The competition between Binance Smart Chain and Ethereum (ETH) networks has increased more than ever. The scalability problem in the Ethereum network and the high transaction fees cause many investors to alternatively switch to the BSC network.
The fact that Binance Smart Chain is directly supported by Binance offers investors an extra advantage. Although some projects and developers are already starting to migrate to the BSC network, it was thought that this was actually limited to small projects. The decision of the 1-inch decentralized crypto currency exchange put an end to this situation.
1 Inch, one of Ethereum’s largest decentralized exchanges, announced that it will move to the Binance Smart Chain network. In the statement made by 1 Inch, it was not unnoticed that the ethereum network was likened to hell. Binance CEO Changpeng Zhao also responded to the post, which stated that 1Inch was required to make such a decision. CZ welcomed 1Inch with a welcome message to BSC.
It is known that the token price of 1Inch increased by 25% with this news before the sharp decline that started on February 26. After Uniswap and Sushiswap, the transition of 1Inch, one of the biggest exchanges, to the BSC network can definitely make a difference.
Binance Smart Chain’s leading decentralized cryptocurrency exchange is currently viewed as Pancakeswap. Cake price rose by 1000% and above in a short time, surpassing even Uniswap volume.