3 weeks ago
The BNB Chain has go the caller playground for memecoins and this week’s enactment shows conscionable however accelerated superior is rotating betwixt plays arsenic the network’s BNB token keeps breaking records.
Whenever the basal plus rallies, liquidity tends to enactment wrong the ecosystem — conscionable arsenic Solana experienced with WIF and different dog-themed tokens past year.
Freshly launched “Chinese”-themed tokens similar 币安人生 (“Binance Life”), 客户小何 (“Customer Xiaohe”) and 空气币 (“Air Coin”) person surged thousands of percent successful hours, pushing regular volumes into the tens of millions wrong 24-hour periods.
Bubblemaps information shows much than 100,000 caller on-chain traders person piled into the BNB meme question successful the past 48 hours, with 70% already sitting connected insubstantial profits. A fistful of whales minted fortunes astir overnight, with 40 wallets present showing much than $1 cardinal successful gains, and astatine slightest 1 cracked $10 million.
But what sets this tally isolated is the explicitly Binance- and laminitis Changpeng Zhao-linked branding. Tokens similar 4ever (built connected the “4” meme from Zhao’s 2023 caller twelvemonth solution to “ignore FUD”), and spin-offs of his canine Broccoli, necktie speculation straight to Binance’s laminitis and its culture. The effect is recursive arsenic each clip Zhao posts oregon reacts connected X, BNB-linked memes pump harder.
In the past 24 hours, the BNB Chain web shows implicit $82 cardinal successful trading measurement among the apical 10 memecoins issued this week, per DEXTools.
But beneath the euphoria lies acquainted fragility. Older BNB memes similar BROCCOLI and MUBARAK inactive commercialized much than 90% beneath their peaks, reminders of however accelerated hype fades erstwhile inflows adust up.
BNB Chain present accounts for 11.4% of planetary meme coin activity, astir catching Ethereum’s 12%. Solana, agelong the ascendant meme venue, has slowed, with regular volumes for Trump (TRUMP), Doodles (DOOD), and Cards (CARDS) beryllium acold beneath the BNB-based newcomers.
BNB itself is the quiescent elephantine successful this story. Year-to-date, it’s the top-performing large-cap, outpacing some bitcoin (BTC) and ether (ETH) and flipping xrp (XRP) connected Tuesday to go the world's third-largest token by marketplace cap.
Its breakout supra $1,200 coincided straight with the meme frenzy, suggesting a feedback loop arsenic higher BNB prices money meme speculation, which successful crook drives much volumes, fees, and visibility backmost to the chain.
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