The amount of digital assets locked on the various DeFi protocols on the Binance Smart Chain
(BSC) has hit a staggering $44.250 Billion. In addition, a total of 25.118 million Binance Coin (BNB) worth $15.573 Billion is currently locked on BSC. The remarkable growth of the Binance Smart Chain has been visualized by the team at DeFiStation.io as seen in the following screenshot.To note is that the Binance Smart Chain is less than a year old having being launched in September of last year. From the chart above, it can be observed that the Binance Smart Chain had $1.13 Billion in total value locked (TVL) at the beginning of February.
Doing the math, the TVL on the Binance Smart Chain has grown by a factor of 39.16x in a span of 3 months and increasing by roughly $15 Billion every month. Such a trajectory in terms of growth means that the Binance Smart Chain could eclipse Ethereum within a few months, in terms of total value locked.
At the time of writing and according to DeFiPulse, a total of $67 Billion is currently locked on Ethereum.
Of the $44.25 Billion in total value locked on the Binance Smart Chain, PancakeSwap takes a quarter of it with $10.79 Billion in digital assets locked on the platform. A breakdown of the top 10 DeFi protocols on the Binance Smart Chain in terms of total value locked can be found below.