Binance or in simplified terms, Binary Finance, is the world’s largest and the most trusted crypto exchange. The platform kick-started in 2018 and currently facilitating more than 1.4 million transactions per second. BinanceCoin is the native & utility token of the exchange which is issued to manage the trading fees and other benefits.
The asset incepted the trade on Ethereum Chain initially and later transited on its native blockchain Binance Chain. Presently, BNB is the third largest crypto asset excluding the stablecoins after Bitcoin & Ethereum with a market capitalization of $52.34 billion.
The most unique feature of the asset is the platform burns 1/5th of its profits to repurchase BNB & burn which has slashed the circulating supply to 161.33 million at the moment.
BinanceLabs funds the thriving projects in the crypto space and recently Cross-chain staking protocol Ankr received a $500 million Web3 fund. The platform is well-known for constant upgrades and developments.
The chain recently released a new version V1.1.12 that includes 2 nodes to speed up and also built a trustless scaling solution for the BNB chain called BNB ZK Roll-Up. Alongside, the chain launched the BNB sidechain which will allow cross-chain interaction of different native assets. Additionally, BNB Beacon chain Godel Testnet Upgrade was implemented for future computing projects & governance requirements.
Top Binance Smart Chain Tokens by Market Capitalization
|Crypto||24H Volume||Current Price|
|Trust Wallet Token||$2.12 million||$1.13|
Additional Read: Top Cryptos to Watch this Week
Latest News on BSC Ecosystem Tokens
Binance Coin (BNB)
- pStake, a liquid staking protocol recently announced a liquid staking functionality for Binance Coin. Users can stake their BNB and receive stkBNB via the pStake App which will be minted as a BEP-20 token. These can be used elsewhere to earn additional yield.
stkBNB is now live!🎉
Stake your $BNB with pSTAKE to maximise the efficiency of your capital by unlocking liquidity.
Stake now: https://t.co/u3BerIX2oj@BNBCHAIN #BNB pic.twitter.com/J5vDrN2ca9
— pSTAKE Finance (Earn 90% APY on stkBNB) (@pStakeFinance) August 8, 2022
- The BNB whales are constantly accumulating the asset as their holdings have been incremental over the past couple of days. The holders holding 100,000 to 1,000,000 BNB tokens have surged by more than 6.7%.
Additional Read: Binance Coin Price Prediction
- The Fantom community is currently voting on a governance proposal that seeks a reduction of the rewards paid to the network validators. However, in response to decreasing the staking rewards, the duration of the rewards is increased which could increase the activity that may in turn increase the volume & fees.
- One of the top lending and borrowing platforms Aave recently rolled out a Governance Proposal that suggests the removal of Fantom integration amid the fears of multiple DeFi bridge hacks.
- Pancakeswap recently adopted a new type of token sale event called the Initial Farm Offerings(IFO) and announced the launch of its first fixed-term CAKE staking benefit, iCAKE. These allow the users to gain access to newly issued tokens as they are added to the DEX.
🐇📝 PancakeSwap July Recap
First IFO with iCAKE, Weighted Voting with vCAKE, Q3 Roadmap Update, Kitchen AMAs… What an amazing start to the second half of 2022!
👉 Read more: https://t.co/CRdH5w3H5G pic.twitter.com/8Nrw6RJTLR
— PancakeSwap 🥞 #BSC (@PancakeSwap) August 11, 2022
- The BNB Chain Top Token platform reduced the CAKE emissions or rewards to 12.75 per block. A proposal was circulated for a vote which received an immense response and passed the proposal with a majority.
Additional Read: PancakeSwap Price Prediction
Trust Wallet Token(TWT)
- Trust Wallet announced its collaboration with doubt, a web 3 platform that supports ETH, MATIC, BNB & TRX chains. The platform has successfully integrated the Did.bit data container where-in you can store the blockchain address in the .bit account and transfer using .bit address instead of a long, complex, individual address.
We’ve got a #TrustWalletTuesdays announcement for you fam!
We’ve integrated the @dotbitHQ #Web3 identity service! .bit supports the #ETH, #MATIC, #BNBChain and #tronnetwork 💙
Read the full announcement on our community page linked below 👇
— Trust – Crypto Wallet (@TrustWallet) August 9, 2022
- Recently, Meta in collaboration with Instagram announced the rollout of digital collectibles to more than 100 countries. Therefore, the platform integrated with the Trust Wallet for the initiative.
- After thriving in the music industry, Gala has now stepped into the film industry and rolled out Gala Films. Here anyone can purchase a Node to grant access to movies and content.
Be part of the next phase of #Web3 entertainment 👇 https://t.co/WigLQcMj82
— Gala Games (@GoGalaGames) August 9, 2022
- Gala also launched the newest Taskforce, the CaCE where-in the platform will enhance the engagement with the other crypto communities and also strengthen its core Gala community as it grows.
Collectively, Binance Coin is among the strongest crypto asset which does not fall prey to any fake breakdowns. Therefore, in the coming days, a significant upswing is expected. And hence the top tokens based on the BNB chain may also follow the BNB price to achieve their respective highs very soon.
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Prices as of August 11th, 2022