BCH

Messari released the BNBChain Q4 2024 report: BNB market capitalization grew by 114%, and the stablecoin market capitalization maintained third place at $6.84 billion

ChainCatcher news, Messari today released the BNBChain Q4 2024 report, which covers ecological expansion and growth in various metrics. Among them, the market capitalization of BNB reached $101.09 billion at the end of Q4, a year-on-year increase of 114% compared to the beginning of the year.The annual growth of BNBChain's DeFi ecosystem is 53%, with a Q4 growth of 10%, and the TVL is $5.35 billion, where ListaDao performed remarkably with a TVL growth of 174%. The average daily trading volume of DEX on BNBChain in Q4 increased by 122%, reaching $1.29 billion. The annual average daily trading volume of DEX grew by 269%.The stablecoin market also saw steady growth, with BNBChain maintaining the position of the third-largest stablecoin ecosystem globally (after Ethereum and Tron), and the total market capitalization of stablecoins reached $6.84 billion in Q4. Additionally, in the BTCFi sector, the number of holders increased by 5% quarter-on-quarter, surpassing 1 million users, with Solv and Lorenzo performing particularly well.On the technical front, by the end of the year, 96% of blocks had utilized BuilderAPI, improving block speed and MEV transparency. The number of active validators increased from 40 to 45, further promoting the decentralization of BNBChain.BNB Chain is committed to driving crypto applications and attracting the next billion users into Web3.

Gala's other dimension joins BNBChain as the Director of Ecosystem Development

ChainCatcher news, BNBChain is pleased to announce that Lingwei has become the new Director of Ecosystem Development. Lingwei has extensive experience, is a member of the Chinese Writers Association, and is the author of bestsellers such as "Every Day Dream Practice," which has been widely sold both domestically and internationally; in 2019, Lingwei was recognized as a Forbes 30 Under 30 elite as a leading travel blogger; additionally, Lingwei served as a commentator and on-site reporter for Tencent NBA from 2010 to 2016. She has millions of fans across the internet.Lingwei holds degrees in Accounting and Psychology from the University of Washington, and her career began in traditional finance, where she worked as an auditor at PwC, a marketing manager in asset management, and a marketing director in investment research.After entering the Web3 space, Lingwei has taken on multiple roles in venture capital and the development of Web3 wallet businesses, and is currently in a leadership position at BNBChain.Lingwei is committed to building a closer developer community within BNBChain, ensuring that every developer's ideas are heard, and helping BNBChain navigate towards the new world of Web3. Gala believes that the blockchain industry, much like the great maritime discoveries 500 years ago, will create a whole new world through disruptive financial innovation and human connection. Developers are the creators of this new world.Lingwei's career journey demonstrates her adaptability and vision, which will help connect BNBChain's business needs with humanistic care.

Analysis: Insufficient liquidity exacerbated the BCH sell-off triggered by Mt. Gox

ChainCatcher news, according to CoinDesk, based on TradingView data, Bitcoin Cash (BCH) fell 20% last week, marking its largest drop since April. This sell-off comes as the defunct exchange Mt. Gox announced it would begin repaying creditors for tokens worth approximately $9 billion that were stolen in a 2014 hack, including $73 million worth of BCH, which accounts for 20% of the token's daily trading volume.Kaiko stated that due to the expectation that Mt. Gox creditors might liquidate on a large scale, BCH holders are panic selling, and the poor liquidity on centralized exchanges (i.e., shallow order books) exacerbates this panic. In a market with low liquidity, traders find it difficult to execute large orders at stable prices, and a large buy or sell order can disproportionately impact asset prices, leading to volatility spikes.In a newsletter released on Monday, Kaiko said: "From the price slippage of simulating a $100,000 sell order for BCH, the price slippage on most exchanges has reached its highest level in over a month, indicating that liquidity is deteriorating due to insufficient order book depth for large market orders." Slippage refers to the difference between the expected price of a trade and the actual price at which the trade is executed, and a surge in slippage indicates poor market liquidity and/or high volatility. According to Kaiko, on July 5, the day Mt. Gox announced refunds, the slippage on the BCH market on Bybit rose from 0.2% to 2.8%, while on Itbit, it increased from 0.3% to 3.5%. Kaiko noted that the poor liquidity "aligns with the strong selling pressure related to the Mt. Gox repayment event, with the highest slippage increases on Itbit and Bybit." Arca's Chief Investment Officer Jeff Dorman stated that market makers have completely disappeared, similar to the situation in the credit markets of 2009-2010.
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