The post EVM Chains Show Dramatic Shifts in Swap Trends, With BNB Chain and Base Emerging Strong appeared on BitcoinEthereumNews.com.

The landscape of embedded swaps across Ethereum Virtual Machine (EVM) chains has experienced a dramatic makeover in recent years, according to the latest data from @Dune. While Ethereum once ruled the roost, new contenders like BNB Chain, Arbitrum, Optimism, and Base are making noticeable gains. Each chain seems to have enjoyed its own distinct set of growth spurts, periods of stagnation, and brush with market leadership, giving us a good picture of an evolving DeFi and crypto ecosystem. In this environment that’s changing with great rapidity, Ethereum remains in many ways a commanding presence in the market, even if it’s lost a little bit of dominance. Meanwhile, chains like BNB Chain and Base have emerged to challenge Ethereum in the embedded swap space, to some degree. Here’s a closer look at how each of these chains is performing in that market. Ethereum: From Dominance to a Resilient Core Player For a long time, the DeFi ecosystem has hinged on Ethereum. DeFi accounted for nearly 100% of all the sockets in Ethereum until March 2021, but that was never a totally comfortable situation. For one thing, Ethereum is expensive. Those sockets don’t come cheap, and the actual interface implementations are rarely simple or straightforward. Gas fees on Ethereum can change dramatically from hour to hour or even minute to minute, making it a really bad time to be doing a swap when you’ll be basically swapping in order to pay for the swap. Notably, even though its share of the market has decreased to about 20%, Ethereum is still a key player when it comes to trading and settlement inside the network. Its trading volume hit a peak of $10 billion in 2021, but by 2023 it had dropped down to only $200 million weekly. Still, Ethereum is rallying again in…

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Filed under: News - @ May 17, 2025 5:21 am