BNB Chain TVL Rises With New Addition
BNB Chain has introduced native liquid staking to the Binance Smart Chain, resulting in a 2.75% increase in the Total Value Locked (TVL) of Binance Staked ETH, the top liquid staking protocol on
the chain. This increase suggests increased trust in the protocol and allows users to engage in DeFi activities without sacrificing asset utility.
The integration is scheduled to occur between April and early May 2024, allowing delegators to compound staking rewards and making cross-chain migration easier. However, the TVL of the BSC fell by 22.16% in the last 24 hours, suggesting that if staking activity improves, the metric might climb. BNB Chain’s revenue could also be affected by staking activity, as reported in Q1 AMBCrypto reported a 70% growth. However, the full liquid staking integration could be ready before the end of May, improving the revenue condition. Sentiment around BNB has improved, with a positive reading of -1.631 on 20 April.
(With inputs from Shikha Singh)
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