Binance Smart Chain’s Biswap Attracts New Users and Increases Transaction Volume by 69%

Binance Smart Chain's Biswap Attracts New Users and Increases Transaction Volume by 69%

The decentralized Binance Smart Chain (BSC) exchange Biswap has seen a significant increase in the number of active wallets that interact with it. Over the past week, the exchange’s active user wallets rose 32%, which in turn increased the processing volume to $1.2 billion.

Biswap Has The Lowest Transaction Fees

Due to several new hacking and fraud projects, the Binance Smart Chain Exchange has seen some turmoil. This could be one of the reasons for the increase in Biswap activity. In the past 24 hours, the number of unique active wallets on the exchange has increased by 3% and the trading volume has increased by another 35%.

Image: Biswap Unique Active Wallets

According to Biswap official documents, this is the first decentralized trading platform on the market with three types of recommendation systems. It is also the exchange that has the lowest transaction fees for the platform (0.1%). The recommendation system is obviously key to attracting new users and it seems to be working well.

In addition to the attractive advantages mentioned, Biswap has also developed a very ambitious roadmap. The exchange is currently working flat out to introduce automatic comparisons for its BSW startup pool.

Biswap beats BSC competitors

Measured by the DappRadar data for the last 30-days, Biswap clearly dominates the BSC stock exchange ecosystem. Among other BSC DeFi competitors, it is currently in fourth place in terms of users. The exchange is also one of the few exchanges that have generated positive indicators in the turbulence of the BSC DeFĂ­ ecosystem.

Interestingly, big names like PancakeSwap are actually losing users. Biswap attracted more than 23,000 unique users, while PancakeSwap was significantly reduced by almost 12%. In addition, Biswap’s transaction volume is higher than that of the second-placed PancakeBunny.

These indicators show that Biswap is actively attracting users’ attention, which helps the exchange increase its processing volume. Another major trend that can be seen from Biswap’s 30-day data is that trading volume has grown exponentially over the month.

Image: Biswap Transaction Volume

Although the exchange was processing an average of about $30 million per day through the end of May, that number has grown significantly in the past 7 days. The average daily transaction volume over the past 7 days has more than doubled to around $65 million.

Biswap’s impressive performance over the past thirty days suggests that the exchange will perform strongly over the next month. DappRadar will continue to monitor data from Biswap and its BSC competitors, so stay tuned.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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