BNB Chain Shines As Its Memecoin Season Kicks In, CZ Reacts…

• PancakeSwap brings the biggest volume spike on the BNB Chain intraday.
• CZ-inspired memecoins on the BNB Chain are making traders big money.
• 4, one of the top meme tokens on the chain, is inspired by CZ’s ‘four’ posts on X.

BNB isn’t the only token that’s pushing the BNB Chain into the crypto market spotlight. In what is being perceived as a surprise, memecoins on BNB Chain-based decentralized exchanges recorded over $6 Billion in intraday trading volume.

Over 20,000 traders earned over $ 1,000 in BNB memecoins, with many surpassing $10,000. Just one made over $10 Million. The rise of these memecoins surprised Changpeng “CZ” Zhao. memecoins have the potential to boost overall chain numbers, while the volatility could do quite the opposite.

Traders Profit Heavily From New BNB Memecoins, Pancakeswap Gets Lion’s Share

New memecoins were added on the BNB Chain around the time BNB clocked a new all-time-high a few days ago. 

Market observer Bubblemaps 泡泡地图 pointed out that over 100K traders made profits from memecoins on the BNB Chain. Reportedly, over 70% of these traders were in profit. One of these traders made over $10 Million in profits. 40 of these traders made over $1 Million in profits, while around 900 clocked profits of over $100K.

Memecoins like 币安人生 and PALU are among the top names leaading the BNB Memecoin season frenzy. Notably, each of these three memecoins are not more than seven days old.

Data from DefiLlama shows that PancakeSwap is the largest decentralized exchange (DEX) on BNB Chain by miles. PancakeSwap recorded a 24-hours trading volume of over $4.6 Billion. The weekly volume figure was $20 Billion, while the monthly volume was $78 Billion.

Uniswap followed PancakeSwap with a 24-hours trading volume of $1.3 Billion.

BNB Chain’s DEX ecosystem trading volume grew. Meanwhile, Solana recorded a 24-hours trading volume of around $5.5 Billion.

Four.meme and Other Memecoins Highlight Culture and Community Strength in Web3

CZ apparently did not expect the memecoin-driven bump on the BNB Chain. The Binance founder is not known to focus on memecoins. Notably, many of these highly traded memecoins were inspired by CZ and Binance.

币安人生 (Chinese for “Binance Life”) was the fourth biggest token on the BNB Chain in terms of 24-hours trading volume (over $300 Million) at press time. It was trading at $0.375, with a market cap of over $375 Million. Over 340K transactions were recorded for this token on BSC in the last 24 hours.

The memecoin called “4” was the fifth-largest token by 24-hour trading volume on the BNB Chain, right after 币安人生. Its 24-hour trading volume was over $244 Million with over 225K transactions in the same period.

Per CoinMarketCap data, three of the top 10 gainers among memecoins are traded on the BNB ecosystem. These include 币安人生, BNB Card, and Broccoli. CZ’s dog, called Broccoli, is the inspiration behind the memecoin Broccoli (ticker: BROCCOLI).

4 has the most interesting story among these top trading BNB memecoins. Over a week ago, a hacker who gained access to BNB’s X account and exploited the memecoin to make a $4,000 profit using a rugpull strategy. Soon after the rugpull, 4’s price shot up. CZ pointed it out, noting that the community had mocked the hacker.

Memecoins are considered the riskiest among all categories of cryptocurrencies. Nevertheless, the last few years have proven that they are here to stay and are likely to be used to gauge community values and cultural strength in the larger web3 community.