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Decentralized Exchanges (DEX) Volume on BNB Chain Reaches 3-Month Peak: Outperforms Ethereum, Underperforms Solana

BNB Chain posts record $3.22 billion in DEX volume in a single day, a three-month high, although it falls significantly short of its all-time high of $12.99 billion.

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BNB Chain records a day's decentralized exchange (DEX) volume of $3.22 billion, marking a...
BNB Chain records a day's decentralized exchange (DEX) volume of $3.22 billion, marking a three-month high, yet it remains significantly below its all-time high of $12.99 billion.

BNB Chain Roars Back as DEX Trading Volume Soars

Decentralized Exchanges (DEX) Volume on BNB Chain Reaches 3-Month Peak: Outperforms Ethereum, Underperforms Solana

In a sharp jump, BNB Chain's daily decentralized exchange (DEX) volume has rocketed to its highest in three months, hitting an impressive $3.22 billion on May 14, according to DefiLlama data. This rekindled trading activity suggests a renewed interest in the Binance-backed blockchain.

Crypto entrepreneur Elja Boom, in a May 15 post, spotted this uptick, although it's still far from the record high of $12.99 billion achieved on May 19, 2021. On the same day, Solana took the lead with $4.549 billion in DEX volume, followed by Ethereum's $2.753 billion. Tron trailed behind with mere $218.36 million.

Leading providers of DeFi, such as BNB Chain, often depend on DEX volumes to gauge market activity, liquidity, and user engagement. The $3.22 billion volume marks an essential shift after months of comparatively sluggish activity.

The recent surge in DEX volumes on BNB Chain can be linked to several factors:

  1. Institutional Adoption: Institutional adoption of BNB Chain and its DeFi growth have significantly increased, with the total value locked (TVL) climbing from $3.5 billion in early 2024 to over $6 billion by May 7, 2025. This growth is driven by massive inflows into DeFi protocols and surging trading volumes on Binance.
  2. Stability and Real-World Use Cases: BNB Chain's traditional approach, offering stability in fluctuating macroeconomic conditions, appeals to institutions, as reported by Standard Chartered in a research note.
  3. Protocol Upgrades and Incentives: The ecosystem has benefited from strategic protocol upgrades and incentives, such as a $100 million incentive program and zero gas fees, that have escalated on-chain activity.

As Boom put it, "BNB Chain season is back again." Although Ethereum remains the dominant Layer 1 network for DeFi with a TVL of $60.96 billion, the spiking DEX volume on BNB Chain hints at renewed confidence in the platform.

Upcoming Enhancements for BNB Chain

Amidst the rising activity, BNB Chain has initiated a broader push to modernize its infrastructure, planning to roll out sub-second block times, gasless transactions, and AI-powered tools this year. These advancements aim to support at least 100 million transactions daily and make the chain more accessible to mainstream users and developers.

The Trump-backed World Liberty Financial (WLFI) launched its USD1 stablecoin on BNB Chain and Ethereum in early March, with Abu Dhabi-based investment firm MGX announcing it would use it to settle a $2 billion investment in Binance. These developments underscore the optimism surrounding the future growth and success of BNB Chain.

[1] CoinMarketCap. (2025). Solana 24h trading volume. [Online]. Retrieved from https://coinmarketcap.com/currencies/solana/24-hour-volume/

[2] Standard Chartered. (2024). DeFi: Behind the brand hype. [Online]. Retrieved from https://www.sc.com/en/insights/publications/defi-behind-the-brand-hype

[3] DefiLlama. (2025). BNB Chain 24h trading volume. [Online]. Retrieved from https://defillama.com/chain/bsc

[4] Binance. (2025). Binance BNB Chain incentive program. [Online]. Retrieved from https://www.binance.com/en/bsc-community-grant-program

[5] CoinGecko. (2025). Tron 24h trading volume. [Online]. Retrieved from https://www.coingecko.com/en/coins/tron

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  1. Despite Ethereum's dominance with a TVL of $60.96 billion, the spiking DEX volume on BNB Chain indicates a growing confidence in the platform, aligning with BNB Chain's upcoming infrastructure enhancements such as sub-second block times, gasless transactions, and AI-powered tools.
  2. The recent increase in DeFi protocol inflows and trading volumes on Binance, combined with strategic protocol upgrades and incentives like the $100 million incentive program and zero gas fees, has significantly contributed to BNB Chain's growth, with its total value locked (TVL) surpassing $6 billion by May 7, 2025.
  3. The rapid advancements in technology, such as the launch of the World Liberty Financial's USD1 stablecoin on BNB Chain and Ethereum, and the planning to support at least 100 million transactions daily, suggest that BNB Chain is paving the way for mass adoption, which also incorporates DeFi applications like trading, lending, and borrowing on its blockchain.

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