BNB Chain DeFi ecosystem recovers almost one-third in three months

On the DeFi side of things, BNB Chain suffered a 93% decrease from Q3 of 2021 but has since shown signs of steady recovery.

After a year-long struggle to fend off the market bears, parts of the crypto ecosystem started showing signs of recovery in the third quarter of 2022. BNB Chain’s Q3 report confirms significant growth in crypto trading volumes and decentralized finance (DeFi) but a drop in nonfungible token (NFT) trading.

According to DappRadar BNB Chain Report Q3, BNB Chain retained its position as the second biggest DeFi blockchain after Ethereum, with a total value locked (TVL) of $7.6 billion.

Source : cointelegraph.com/news/bnb-chain-defi-ecosystem-recovers-almost-one-third-in-three-months by Cointelegraph By Arijit Sarkar - November 02, 2022

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