Decentralized social media protocol Farcaster adds BNB Chain support amid breakout interest in BNB token
Quick Take Farcaster is adding support for BNB Chain (formerly known as Binance Smart Chain), according to an announcement on Wednesday. BNB has rallied in recent days to become the third-largest crypto asset by market cap, according to The Block’s data.
Decentralized social media startup Farcaster is adding support for BNB Chain (formerly known as Binance Smart Chain), according to an announcement on Wednesday. The move comes amid rising interest in BNB, which has rallied in recent days to supplant XRP as the third-largest crypto asset by market cap, according to The Block's data .
Farcaster began branching out beyond the Ethereum ecosystem earlier this year when it integrated Solana. It has also expanded to the bespoke EVM Layer 1, HyperEVM, part of the largest decentralized exchange HyperLiquid's ecosystem, for cross-chain balances without bridging, according to the project .
"Near term goal is: - Every asset and every chain that matters. BSC, HyperEVM, Solana, Base, ETH L1, etc. - Instant cross-chain swaps, no bridging. - As close to zero trading fees as possible," Farcaster co-founder Dan Romero said on X.
Founded in 2020 by former Coinbase executives Romero and Varun Srinivasan, Farcaster is a decentralized protocol designed to support interoperable social applications.
In addition to supporting the Ethereum mainnet, Farcaster is also live on several Layer 2s and sidechains, including Arbitrum, Base, Gnosis, OP Mainnet, Polygon, Unichain, and Zora.
BNB Chain is a Binance-supported blockchain ecosystem powered by the BNB token that supports EVM-compatible smart contracts. The price of BNB has increased by roughly 80% in the last three months amid rising use of the network, which leads to rising BNB token burns.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ackman "Switches Holdings" to AI Giants: Sells All Alphabet (GOOGL.US) Shares, Increases Meta (META.US) Holdings—Should Investors Follow?
Ackman made it clear that this is not a bearish outlook on Alphabet, but rather a decision to shift funds to other, more attractive opportunities given the current valuation.
New Zealand Dollar languishes near two-month low vs USD as bears await break below 0.5700
How to avoid AI? This is the big dilemma for pension funds and sovereign funds
The AI wave is breaking through institutional investors' diversification defenses. From stocks and private equity to bonds and infrastructure, AI risk has fully penetrated—Goldman Sachs estimates that companies related to AI account for 40% of the S&P 500's market value, and AI bond issuances make up nearly half of the investment-grade market. Pension funds and sovereign wealth funds are being forced to redefine "risk," struggling to survive between missing out on gains and excessive concentration.
Crypto prices
More
