Coinbase’s standalone self-custody crypto wallet, Coinbase Wallet, has been onboarding multiple DApps since its launch last year. Its latest addition is Venus Protocol, a BNB Smart Chain-based (BSC) – previously Binance Smart Chain – lending and borrowing platform.
The top BSC DeFi platform now supports Coinbase Wallet
Coinbase Wallet made the announcement via a tweet recently. With the integration, users of Coinbase Wallet, especially those who also use Coinbase, can easily connect to Venus Protocol to access its rapidly increasing liquidity pool for fast, secure, and low-cost transactions.
Venus Protocol is currently the biggest DeFi platform by trading volume in the BSC ecosystem.
Per data from blockchain data aggregator Dapp, Venus Protocol’s trading volume was $1.28 billion in the last seven days, a 14.82% decline from its previous week’s all-time high trading volume of $1.48 billion.
Its trading volume for the last 30 days is $6.20 billion, the most for any BSC decentralized application. Venus Protocol has been outperforming other BSC heavyweights like PancakeSwap, Alpaca Finance, MDEX, and Cream Finance.
The price of the platform’s native token, Venus (XVS), has also been putting up an impressive performance in the market. XVS is trading at $10.26, up 5.56% on the day, and 19.7% in the last week. However, the current price of XVS is an about 93% drawdown from its previous all-time high price of $147 reached in May last year.
The price tanked from its high following a $200 million liquidation happening in a single day that led to FUD and speculations of market manipulation happening on the platform. Venus protocol has however been gaining the confidence of investors again as its market performance shows.
Meanwhile, Coinbase Wallet has also recently announced the completion of several other integrations including Solana native tokens, and also PancakeSwap, StarNifty, and Moonpot.
BNB Smart Chain putting up a strong contest with competitors
The “Ethereum killer” smart contracts blockchain has been positioned to be a very viable contestant to do just what it set out to. In February, BNB Smart Chain surpassed the crypto market behemoth Ethereum in number of transactions. BSC saw a 378% increase in transactions to reach 156.5 million, compared to Ethereum’s 32.74 million.
Similarly, the BSC’s NFT ecosystem has been flourishing. This month, NFT sales have topped the previous monthly sales all-time high. BSC NFT monthly sales volume in March 2022 surpassed $1.2 million, a 1,180% increase since the end of January.
- Breaking: Singapore Financial Regulator Reprimands Three Arrows Capital
- Ethereum Exchange Supply Spikes, ETH At A Risk of Correcting to $700 And Below
- NFT Marketplace OpenSea Flags Data Breach, Here’s What Was Leaked
- EU Passes A Bill to Trace the Flow of Bitcoin & Crypto Assets In Regulatory Tightening Measures
- North Korea’s Lazarus Group Behind $100 Million Horizon Hack, Harmony Initiates Global Manhunt
- Grayscale Initiates A Lawsuit Against the U.S. SEC Over Spot Bitcoin ETF Issues
- Pentagon Raises Damning Concerns Over Bitcoin, Ethereum Security
- Bitcoin Cash Sinks 7% As Its Biggest Advocate Is Accused Of Default
- Here’s Why Ethereum (ETH) Price Can Plunge More Ahead
- This Crypto Winter Suite Could Help Investors In Bear Market
- NEAR Price Analysis: Falling Prices Eye $3 Breakdown; Should Coin Holders Worry?
- SHIB Price Analysis: Sustained Selling may Lead $SHIB to $0.0000074?
- Sandbox Price Analysis: Crashing SAND Prices Warns 25% Downfall
- Solana Price Analysis: $36 Breakdown Teases SOL Price to Revisit $26
- Chainlink Price Analysis: Wedge Pattern could Lead LINK price below to $5
- AAVE Price Analysis: Buyers Need $76.6 Breakout to Trigger Bullish Recovery
- Apecoin Price Analysis: Rising APE Price Knockout Another Barrier; is $6 Next?
- Stacks Price Analysis: Reversal Within Wedge Pattern Eyes $0.3 Support
- Tezos Price Analysis: XTZ Rebounds from Yearly Support; is it a good buy?
- Tron Price Analysis: Triangle Pattern Governs the TRX Price Action; Should Coin Holders Worry?