Binance Smart Chain was launched in September 2020, as a parallel chain to the original Binance Chain. While keeping the many strengths of the original Binance Chain, Binance Smart Chain is more advanced in terms of allowing the deployment of smart contracts. This creates a playground for many DeFi Dapps. The tokens from these projects are circulated in the Binance Smart Chain and are used for trading, governance, etc..
Here are the top 5 Binance Smart Chain coins by Market Capitalization:
ALPHA takes the number 1 spot on this list with the highest market cap of $83,819,919. ALPHA is ranked #137 on CMC, and has the price of $0.4795. Its 24hr trading volume is $60,781,302.35
ALPHA is the token of Alpha Finance lab, a DeFi platform on Binance Smart Chain which was founded in 2020. The goal of Alpha Finance lab is to provide an ecosystem of products and helps users maximize the returns while minimizing any potential risks. They have launched their very first product, Alpha Homora, which is a yield farming and liquidity providing protocol.
The second place on this top 5 list goes to CAKE, which has a market cap of $60,248,431. CAKE is ranked #268 on CMC, with the price of $0.6165. The 24hr trading volume of CAKE is $5,523,996.38.
CAKE is the token of PancakeSwap – one of the most popular Dapps on Binance Smart Chain. Launched in September 2020, PancakeSwap is a DEX – decentralized exchange running on Binance Smart Chain. PancakeSwap allows for the peer-to-peer trading of crypto assets, without the involvement of a centralized intermediate. Users can also earn interest by providing liquidity or by joining farming pools.
In third place, we have BEL with the market cap of $22,704,823. BEL is ranked #496 on CMC, with the price of $1.00. The 24hr trading volume of BEL is $6,901,435.44.
BEL is the token of Bella Protocol, a DeFi platform launched in 2020 on Binance Smart Chain. Bella Protocol aims to introduce DeFi to a large number of users through a series of products. These products maximize user experience while minimizing the existing fees. Some of the products are Bella lending – decentralized lending of crypto assets and Bella Flex Savings – staking of crypto assets for high yield interests.
UNFI has a market cap of $13,963,498, earning it a fourth place on this list. UNFI is ranked #487 on CMC with the price of $5.81. The 24hr trading volume of UNFI is $5,331,293.51.
UNFI is the token of Unifi Protocol DAO, a DeFi platform launched in 2020 on the Binance Smart Chain. Unifi Protocol aims to connect DeFi marketplaces on different blockchain to allow for simplified cross-chain trading at a low cost. Users can provide liquidity or join farming pools to earn rewards.
The fifth place on this list goes to BIFI, with the market cap of $6,390,669. BIFI is ranked #749 on CMC, with the price of $83.76. The 24hr trading volume of BIFI is $99,559.17.
BIFI is the token of BeefyFinance, a yield farming optimizer launched in 2020 on BSC. They aim to improve the overall farming experience on BSC through vaults, which introduce users to the highest yield opportunities. BeefyFinance also aims to help the growth of the BSC ecosystem by “helping the Binance Smart Chain projects grow together”.
- Note: Trading volumes are collected in 01/2021
- Resource: Coingecko
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