Altcoins on Binance Smart Chain Could Skyrocket, Says Davis

Popular crypto YouTuber Lark Davis talked about Binance Smart Chain (BSC) many opportunities for investors. With its low fees and fast transactions, Davis believes this ecosystem provides the kind of experience that the people want.

BSC flagship product PancakeSwap (CAKE) has given its competitor a run for their money and even managed to “eclipse Ethereum” in terms of transaction volume, according to Davis.  The analyst cited data from DappRadar that claims BSC outperformed Ethereum on this metric, at least for a 24-hour period.

Binance Smart Chain BNB CAKE
Source: DappRadar

PancakeSwap experienced an all-time high number of users during the past week and registered some issues due to the high congestion. Davis said:

Binance Smart Chain hit a an all-time of 8.5 million transactions. I think it is pretty obvious what we are seeing right here. People want exposure, they want to get into DeFi. They want to get into crypto and use the different products.

The analyst reiterated Ethereum’s disadvantages and the high number of users that have been price out of the platform. When it comes to adoption, the “numbers speak for themselves”. PancakeSwap’s native token trading volume sits at $1.1 billion in the daily chart. Ethereum DEX Uniswap record a similar number but has been lagging behind its competitor. David added:

I suspect that we’re going to continue to see Pancakeswap moving up the charts and becoming a more and more prominent decentralized exchange. The users are there. The daily volume’s there. Just the market cap is a bit behind in comparison to Uniswap which only does half the daily volume right now.

Binance Smart Chain (BSC) Expansion And New Opportunities

This ecosystem is anything but static and will be making an entry into other crypto trends, like non-fungible tokens (NFT). For that, they will launch the BSC Station to allow users to do auctions for these assets to a “wide” audience. The platform will also integrate a BSC Swap feature along with the NFTs.

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