Binance Smart Chain And What We Are Getting Involved In With Our CUB

Ever since the announcement by Leofinance relating to the airdrop on Binance Smart Chain (BSC) I have been reading up on the good and the bad. There seems to be more good and I will explain why. No doubt with Ethereum's huge success with DeFi there will be many exchanges getting involved with Defi and Binance Smart Chain is one of what will be many.

For the month of February BSC surpassed Ethereum for the number of active wallets and total number of transactions. This can only be down to one thing and that is Euthereum's Gas fees which can be a turn off for the low budget investor. Not only is BSC growing rapidly, but the entire sector is with others moving away from Ethereum. Quickswap which is a small exchange increased it's volume from $10 million to $25 million just in the last week of February.

Ethereum still has 4 x more value locked in DeFi than BSC, but as we all expect that number will start to shrink rapidly as BSC gains more momentum along with others getting involved. With more and more people piling into DeFi this has definitely put anyone holding WLeo or Cub in the pound seats which should be an exciting ride. One DeFi Dapp (Venus) was responsible for $400 billion in transaction volume on it's own on BSC last month so things are happening and quickly. The one problem with BSC is the majority of transactions are being done by 4 or 5 Dapps so it could be top heavy with a total volume of $720 Billion. Ethereum had $181 Bilion worth of transactions, but not being dominated by a handful.

The one negative with BSC which personally I see as a positive is that their have been copycats and exit scams hitting investors for over $10 million. If something is too good to be true this applies here as well so due diligence and caution is advised. Most of these scams are only up for a few hours before disappearing and with the launch of CUB investors will have the assurance knowing we are at least legit coming from Leofinance which has pedigree and more importantly history. This should stand us in good stead and expect some noise when we all suddenly appear as one large group holding CUB. A community as one will give it even more credibility so this was a smart move by the Leo team making sure everyone is involved via the ticket process.

What I found interesting is the trend in active wallets on Ethereum (67 000) which is down 9% and the BSC wallets up by 27% (108 000). The number of new DeFi listings in February on BSC is more than double that of Ethereum. Obviously this is the growth time and CUB is going to the right place.

To put it in a nutshell this looks very promising for CUB as again it seems like the timing couldn't have been better. With some investors already being burnt by scams CUB being legit will go a long way to attracting new investors. DeFi may have been around a while, but this is like a second wave as investors move away from Ethereum due to the high Gas fees making CUB's timing almost perfect (Hurry up).

Posted Using LeoFinance ^Beta