BNB Meme Coin Frenzy Creates Overnight Millionaires and Costly Mistakes

BNB Chain is dominating new token exercise, based on recent information from Bubblemaps. Over the previous 24 hours, the community has seen practically 35,000 new tokens launched, and far surpassed different blockchains. The surge was accompanied by an on-chain buying and selling quantity of roughly $10 billion.

To put this into perspective, Solana adopted with round 16,000 new tokens and $2.3 billion in quantity, whereas Coinbase’s Layer 2 Base recorded about 30,000 tokens however with a much smaller $27 million in buying and selling.

BNB Meme Coin Season Is Here

In its newest put up on X, Bubblemaps attributed the on-chain exercise to a renewed wave of speculative capital on small-cap meme cash on BNB Chain. The frenzy has drawn over 100,000 merchants into newly launched tokens, and practically 70% are at the moment in revenue. The scale of features is putting. Data reveals that one dealer netted over $10 million, 40 made $1 million or extra, and 1000’s earned five- to six-figure income.

Tokens similar to PALU briefly exploded after what seemed to be a delicate nod from Binance founder and former CEO, Changpeng “CZ” Zhao, minting over 100 new six-figure earners. Other breakout tokens like 币安人生, PUP, and 4 additionally generated huge windfalls and produced dozens of millionaires and tens of 1000’s of smaller winners.

The meme coin frenzy has caught the attention of trade observers, together with CZ, who described the pattern as “BNB meme szn” and admitted that he didn’t anticipate it in any respect.

Lookonchain, nonetheless, issued a cautionary notice to the merchants in opposition to FOMO-driven strikes after monitoring a whale’s pricey meme coin spree on BNB Chain. The pockets, recognized as 0x2fcf, withdrew 5,090 BNB ($6.65 million) from Binance to purchase a number of trending meme cash, however the wager has backfired. Within 24 hours, the whale spent 3,475 BNB ($4.54 million) on a number of tokens, all now sitting at huge losses.

Network Undeterred

Individual missteps apart, BNB Chain continued to learn from a wave of latest contributors. The community has just lately surpassed its long-term rival Solana in energetic addresses for the primary time since final yr. This surge was fueled by the hype surrounding decentralized trade Aster, which has pushed huge consumer engagement and boosted on-chain exercise throughout the ecosystem. The rising demand for the community has additionally lifted its native token.

As a outcome, BNB has emerged as one of many best-performing property over the previous week, climbing practically 26%. It now trades near its all-time high of over $1,300, pushing its market capitalization above $181 billion and overtaking Ripple’s XRP to change into the world’s third-largest cryptocurrency.

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