BNB Chain Dominates DeFi, Leaves Solana and Ethereum Behind!: 24-H Trading Volume Hits $1.63B

BNB Chain has emerged as a key player in the DEX market (Decentralized exchange), recently surpassing crypto giant Solana in its trading volume. Data from DeFiLlama suggests that BNB Chain has achieved a fantastic 24-hour trading volume of around $1.637 billion, highlighting a 13.3% rise from the previous week. This surge indicates the platform’s strong and stable development and well-planned initiatives. This update comes in the light of the underwhelming performances by mainstream blockchains like Solana and Ethereum

BNB Chain’s Success Explained: Active Market Engagement The Key

The BNB Chain’s success can be linked to several factors. These include their strategic promotion of meme coin platforms and efficient usage of the Binance wallet for token generation events of DEX market tokens. The CEO of Binance, Changpeng Zhao, has contributed massively to this growth by taking various initiatives to keep the ecosystem abuzz. Initiatives like consistent airdrops and launch pool events have helped the BNB chain retain investors. For example, the memecoin $TUT exploded after CEO Zhao shared its promotional video.

Memecoins Driving Ecosystem Traffic

Since last week, BNB Chain’s DEX markets have constantly accounted for over 30% of decentralized trading volume, cementing its position in the DeFi landscape. The week-long trading volume on the platform, from March to March 21, was reportedly $4.32 billion. The blockchain ecosystem has also gained benefits from increased memecoin activity, which has largely contributed to its trading volume. Recently, a community poll was conducted on the platform regarding future token listings that have generated market buzz. Also, price rallies for new tokens like Mubarak have also been a common occurrence in the BNB chain ecosystem. 

As BNB Chain continues to dominate market share and attract more investors, it signals a shift in preference within the DeFi space. With multiple planned developments and a rapidly growing consumer base, the BNB chain is poised to maintain its leadership in the DEX markets. The success of the ecosystem has also rubbed off on the native BNB coin, as the trading volumes increased for the native token as well.

Let’s quickly take a look at how BNB has performed in the last 24 hours

BNB Price Analysis of Last 24 Hours: BNB Holds Steadfastly to Key Resistance Levels

The BNB coin has had a fair outing in the last 24 hours as it consolidates close to key resistance levels. This means that in the coming times, interesting price action awaits investors. 

The BNB price started at $631.2, and within 15 minutes, the price was sent reeling down thanks to a midnight death cross. As buying pressure sought to gain momentum, a steep climb began, validated by a golden cross. BNB, although met by short reversals, continued a handsome climb all the way up to $633.57. The level posed stern resistance as BNB made another attempt at crossing it but to no avail. The BNB price slumped quickly following the failure, reaching its 24-hour low of $625.8 As the market reached oversold conditions, a reversal was expected.

Chart 1; analyzed by raodevansh18, published on TradingView, March 22, 2025

The reversal occurred and led BNB to eventually find resistance at $637, after facing several sharp declines. The BNB price established hard support at $631 and rebounded several times to try and breach resistance before eventually facing a downward breakout. The coin formed a new support $628 on March 22 and as of the last update, is poised to test it again. 

BNB Price Prediction: Will $626 Hold or Will BNB Go For The Sky Again?

As Binance coin holds close to the $637 resistance, the burning question arises, will it breach it any time soon? For now, the $626 support matters a lot. If that support is abandoned, BNB’s upward march could be a slower one. However, if BNB goes on to find a new resistance, the coming days could spell out sizable profits for investors.