Venus Protocol users have recently borrowed over $1 billion worth of BNB on the platform

2022-11-30 21:31:45

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ChainCatcher news, according to bsc.news, users of the BNB Chain ecosystem DeFi lending protocol Venus Protocol have borrowed over $1 billion worth of BNB in the past few days. Data shows that since November 23, the APY of the BNB lending pool on Venus Protocol has been continuously rising, reaching 60% multiple times.

It is reported that there are increasing speculations about the reasons for the influx of borrowing. Analysts believe that the proof of reserves released by Binance on November 25 has created a premium effect for BNB within the entire BNB Chain ecosystem. Additionally, some analysts suggest that the large borrowing of BNB by users is due to Binance Launchpad launching its 29th project, Hooked, and OpenSea integrating BNB Chain, which has increased market demand for BNB. (source link)

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