Binance Smart Chain continues its streak of unstoppable growth. It doesn’t matter if it’s token swaps NFTs or decentralized markets, BSC supports more than one method to generate substantial returns in addition to making the world more thrilling.
Its Binance Smart Chain is an original new blockchain, with a specialized environment that is able to support high-performance and decentralized applications. Its cross-chain support BSC is among its most notable features. Additionally, it lets users to enjoy the benefits that come with the Binance Chain along with the Binance Smart Chain. A Low-Cost Trading Tool According to the Bitcoin Motion website, there are no trading fees involved in the program.
However, unlike Binance Chain, BSC functions in parallel and is able to support smart contracts that are compatible along with EVM (Ethereum Virtual Machine). Additionally, BSC is highly flexible and scalable, allowing users to make use of coins from multiple chains.
Types of Binance Smart Chain Coins
It is important to recognize the BeP-20 tokens and BEP-721 represent two distinct kinds of tokens they Binance Smart Chain supports. In contrast to BEP-20’s fungible tokens BEP-721 refers specifically to NFTs that are part of Binance’s network. This is why the main focus in this post will focus on the BEP-20 coins in terms of the market capitalization, their popularity, and the future of.
Let’s look over the most popular 7 Binance Smart Chain coins that you must keep an eye on through 2022:
1. Binance Coin
BNB token, also known as Binance Coin is in existence since the year. At first, Binance Coin was issued to help support ERC-20 and was based on the renowned Ethereum network. When it was first announced for launch, the quantity for the BNB coin was around 200 million and the company was offered for sale at 100 million in an initial token offering. One of the major benefits that comes with BNB token is that it can be used to pay for BNB token’s ability to charge a fee for part of token sales, or for the official Binance exchange.
Furthermore, BNB can be used in conjunction with it with the Binance Decentralized exchange.BSC has been designed to provide the compatibility of cross-chains and to help users get the most benefit from this Binance Chain. It also allows smart contract compatibility and features by using the Ethereum Virtual Machine.
Each period, Binance utilizes a fifth of their earnings to purchase the back of and then burn Binance coins into the Treasury. In a relatively short period of time that has passed, Binance’s BNB token has been able to be able to cover a broad variety of uses. As an example, for instance, users could make use of BNB tokens to pay for BNB token as a payment transaction fees and financial services online as well as entertainment and travel reservations.
It is located in the PancakeSwap or CAKE is a reference on the BEP20 token. PancakeSwap was first introduced on BSC and let users trade a variety of currencies and tickets. In the core, CAKE provides liquidity for the PancakeSwap platform. CAKE will allow users to put their tokens on the line and receive significant benefits. Token holders have to deposit LP tokens before locking them in.
In the case of purchasing the tokens Pancake Swap retains the custody. PancakeSwap token operates in the same way as an automatized market maker. One of the most interesting aspects regarding PancakeSwap is that PancakeSwap pass is the ability to earn CAKE which is the native currency. PancakeSwap allows customers to place their coins in various Syrup pools that offer significant rewards to those who use it.
In the early days of November the market capitalization of DYP is $13.78 million and the price in USD of $0.7196. DYP may not have been able to maintain an even ranking, but the most expensive price ever recorded is currently $4.90.
DYP.Finance lets users maximize the yield of their farming. DeFi Yield Protocol reduces the impact of a huge number of users. The protocol has an anti-manipulation function that reduces the impact of converting tips into native platforms. The anti-manipulation function ensures security and stability as well as a clear access to liquidity. It also helps simplify and secure access to the platform by all its users.
In essence, DYP (DeFi Yield Protocol) is an innovative platform that offers yield farming and staking options. Users can also benefit from the most modern and sophisticated DYP trade tools. The most notable feature for DYP is its dashboard that is decentralized. It is loaded with sophisticated features such as Community Trust Vote System, Decentralized Score, LunachPad, and DYP Locker. The aim is to help investors make informed choices, reduce risks and increase yields. Recently the DYP team has also introduced V2 Buyback, Staking, as well as farming Pools via the Binance Smart Chain to strengthen their market position.
4. GALA (GALA)
GALA is the name of the virtual asset on Gala Games. GALA is the digital asset of Gala Games platform which allows users to make payments that reward nodes. Users require an authorization to run a specific software program from their personal computer. They can also receive the rewards using GALA tokens. Additionally they can also earn NFTs. In 2021 the price of GALA token was set to increase. GALA token has experienced an unbroken upward trajectory and experts believe that the price will increase further until 2022.
5. Ankr (ANKR)
ANKR is the main native utility and governance token in the ANKR ecosystem. At present there is more than 10 billion tokens, including 7 billion tokens currently in circulation. Additionally ANKR token ANKR token can be used as an ERC-20 token which holders can keep and trade using DEX as well as Ethereum wallets. In a short moment, ANKR token is able to receive constant recognition and appreciation from several central exchanges.
In reality, after every CEX listing and listing, the value of ANKR has increased. The ANKR token is based in conjunction with the ANKR platform, which is a multi-faceted system that integrates many protocols to facilitate blockchain-based adoption. It is interesting to note that ANKR is designed to serve developers, users, as well as enterprises. Alongside Binance Smart Chain ANKR users can use many more blockchains, including Ethereum, Polkadot, and other blockchains.
6. Coin98 (C98)
Coin98 allows users to use services across twenty blockchains. In the present, Coin98 has up to 284,000 customers who have generated $216 million in transactions through 488,000. Additionally, because Coin98 has various blockchains available, users have the ability to obtain the best price for swapping tokens.
It also comes with an optimized gas price and lets users discover different routes to make transactions. C98 coin can be used with blockchains such as Ethereum or Binance Smart. It is possible to use C98 to earn rewards for staking as well as earn a transaction cost and enjoy discounts for membership on a wide range of services and products.
Coin98 also permits users to control the governing protocols and make suggestions for coin98’s ecosystem. Coin98 might not have as many fans like other BSC-compatible coins however, the overall supply illustrates a different picture and suggests its potential growth potential.
7. Trust Wallet Token (TWT)
It is known as TWT (Trust The Wallet Token) is a BEP-20-backed asset that enables new contract crypto projects that are innovative and runs with the Binance Smart Chain. Additionally, since the BSC has lower gas costs in comparison to other blockchain-related projects, TWT provides a fast response time and token-based bonuses on BSC.
Shortly, TWT offers added value for users using Trust Wallet. It can be used as a service-based payment or exchange it for an alternative crypto asset. In addition, as a Governance token, TWT can be used in a variety of applications and allows users to enjoy many benefits of token-related features. For instance, holders of TWT are able to participate of the use of any Trust Wallet with governance protocol.
It’s a shame that the Binance Smart Chain couldn’t be ideal for those who require a low-cost, high-speed platform. In the year 2020, BSC broke the record of the number of active users using the wallet. By 2021, the amount of transactions total on BSC will exceed $1.5 billion.
Even though Ethereum is the most well-known blockchain technology for smart contracts however, it is becoming more overwhelmed. If the slow processing and the high cost of Ethereum continue to follow the same pattern this will open the way for the adoption of an affordable chain such as BSC.