Chinese Investors Are Shifting From Solana Meme Coins To BNB
The BNB meme coin season is heating up as Chinese-themed tokens dominate the BNB Chain, drawing liquidity away from Solana.
Facing this development, Solana is making an attempt to strike again — however can it reclaim its meme market momentum earlier than the subsequent wave hits?
BNB Meme Season Driven by Chinese Investors
Recently, BNB Chain has witnessed a wave of Chinese-inspired meme coins surging in market capitalization. A sequence of tokens with Chinese names — similar to Binance Life, Customer Service Xiao He, and Binance Assistant — have skyrocketed in worth inside hours.
According to BeInCrypto, the market cap of a number of BNB meme cash surged dramatically in just some hours. Notably, Binance Life (Chinese title: 币安生活) reportedly surpassed $500 million in market capitalization solely days after launch.
Analyst believes this BNB meme coin season will final “for fairly some time.” As one dealer commented, “CZ and He Yi received’t let this wave of enthusiasm finish simply — it’s extremely doubtless they’ll preserve pushing it ahead.”
Meanwhile, the fast unfold of Chinese-language memes on Weibo, Telegram, and X has triggered a FOMO impact just like the early DOGE or PEPE rallies.
Most of this buying and selling occurs on PancakeSwap, the dominant DEX on BNB Chain. With its deep liquidity and spot quantity, PancakeSwap has turn out to be the principle stage of the China meme season.
Interestingly, the platform has additionally expanded its cross-chain swap capabilities to Solana, permitting simpler liquidity switch between ecosystems.
Some analysts even counsel this may very well be one of many key causes behind current capital outflows from Solana to BNB Chain.
Another Solana Meme Season is Coming?
Solana appears to have misplaced endurance after days of persistent fund outflows to BNB. The official Solana account started posting in Chinese, branding itself because the “Apple Chain (苹果链)” — implying sophistication and premium positioning, akin to Apple’s picture.
However, the submit was deleted inside minutes.
Surprisingly, inside minutes of deletion, a flood of “Apple Chain” tokens emerged and noticed fast market cap will increase. Although this transfer was criticized as a “panic response,” it inadvertently reignited Chinese group consideration round Solana.
While the group debated the incident, Raydium, Solana’s largest DEX, posted a hint: “SOL meme szn is coming.” Shortly after, another Chinese tweet hinted, “SOL memes look prepared for an enormous surge.”
The message unfold shortly, interpreted as Solana’s counterattack towards the booming BNB meme coin wave.
One analyst jokingly commented that the one manner for Solana to maintain up can be for co-founder Anatoly Yakovenko to tweet every day: “Hello, thanks, I really like China!”
SOL Price Falls — But ETF Could Spark a Reversal
Losing its footing within the meme coin warfare is likely to be one issue behind SOL’s current worth decline. According to BeInCrypto, SOL has dropped from $235 to $217, returning to its early-October vary earlier than rebounding barely.
In distinction, BNB has been setting new all-time highs, supported by the meme coin frenzy and rising DEX buying and selling volumes throughout BNB Chain. Analysts say the BNB meme coin exercise surge has straight boosted on-chain liquidity and retail participation.
“Solana dominated each crypto development for 3 years. If CZ season solely lasts every week whereas Bitcoin and BNB hit all-time highs — I’ll be amazed.” One consumer X commented.
At the identical time, expectations for a Solana ETF approval are mounting. Multiple sources counsel the SEC may approve a spot Solana ETF this week, with odds near 100%.
If accredited, analysts imagine SOL may rebound to $290–$345, reestablishing its mid-term uptrend.
The submit Chinese Investors Are Shifting From Solana Meme Coins To BNB appeared first on BeInCrypto.