The Binance wallet grows the dominance of the category of web3 tools, which benefits from a mix of dex trading and special events. The purse expanded to an 81.2% market sharing, which shot earlier in Coinbase's rival wallet.
The Binance Wallet drives the expansion of the entire ecosystem. The purse becomes a major tool for web3 activities, as well as the new adoption of ownership.
In May, the purse continued to expand its dominance, reaching a part of the market of 81.2% and exceeded all other exchange and web3 -based wallets. The Binance Wallet has the advantage of having a native chain and not relying on third-party services.
The main reason behind the expansion of the wallet service is the Zero-Fee The campaign began in March, which is expected to run until September. The campaign has led to remarkable results in terms of BNB chain daily users and trading volume through the native purse.
Binance Wallet reaches the volumes of peak trading
On May 7, the daily trading volume for Binance Wallet reached a full time high $ 574m. Daily results reflect several months of growth, mostly driven by purse-based swaps and dex activity.
The purse flipped a metamask as a go-to wallet for fast swap, especially after the zero-fee campaign. During that time, Metamask has brought significant fees for the routine and a worse replacement price compared to other wallets.
Low fee policy seems to work for Binance, with new plans to further lower gas costs for entrepreneurs and token users. Binance Smart Chain can go through another Reduction of the feeStrengthening the use of on-chain.
Binance's web3 wallet is also the hub for new token sales for all accounts holding 3 BNB in their purse. Regular new TGE and AirDrops events, as well as the sun -day Binance Alpha Curated token reflects demand for new owners and an honest community.
Binance Smart Chain boosts dex activity
The Binance Smart Chain showed rapid growth in Dex's activity. Last week, volumes expanded by 18.8%, reaching a total of $ 2.09B. At the level of this activity, the Binance Smart Chain closes Solana with $ 2.89B in the weekly Dex trading volume.
The chain regularly exceeds Ethereum, achieved $ 1.79b in Dex's weekly activity.
Growth in the BSC is driven by the pancakeswap market, which has grown more than 23% a week. BSC Dex's activity began to choose in April, as the sun -sun volume disappeared to break above $ 1B. During the first week of May, the BSC posted the Volumes of Outlier Dex, the highest visible since March.
BSC Dex's activity sank around January 22, with $ 4.4B in total volume. The BSC has achieved constant growth, even though 2021-2022 trade notes are still not broken. The current increase in activity monitors the performance of BTC wrapped, Stablecoin, as well as the leading BSC versions of meme tokens such as Pepe, as well as native memes from four.meme.
As a result of modified interest and demand for swaps, the BNB's native token expanded at a month's peak. The BNB exchanged $ 614.59, which sets expectations for a more significant breakout.
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