In the past week, cryptocurrency traders on the BNB Chain have made millions by investing in small-cap Meme coins, indicating that the market is entering a new speculative capital cycle.
According to data from the blockchain intelligence platform Lookonchain, one of the most profitable investors is trader "0xd0a2," who turned an initial investment of $3,500 into $7.9 million in just three days, achieving a return of 2,260 times.
Another trader, "hexiecs," earned over $5.5 million by investing in the recently launched Meme coin "4," which saw a sharp price increase following a tweet from Binance co-founder and former CEO Zhao Changpeng on the X platform.
Lookonchain data shows that other speculators also jumped on this token, with "brc20niubi" converting a $730,000 investment into $5.4 million, achieving a 1,200 times return on investment.
This wave of activity followed a transaction earlier this week when wallet "0x872" realized nearly $2 million in profit after investing only $3,000 to purchase "4" tokens within a few hours. The trader achieved a 650 times return after Zhao Changpeng reshared a tweet about the token on October 1.
The "4" token originated from a phishing attack on the BNB Chain, from which the hacker reportedly made only $4,000, but the community turned this incident into a Meme.
The growing trader activity on the blockchain has caught the attention of industry observers, including Zhao Changpeng, who referred to this phenomenon as "BNB Meme Szn," stating that he "completely did not anticipate" it.
Marwan Kawadri, head of DeFi for BNB Chain and the EMEA region, stated that the increasing investor interest is primarily due to the recognition of BNB Chain's potential in digital asset trading.
In an interview with Cointelegraph, Kawadri said, "BNB Chain has been performing strongly in the DeFi space, but now, it is becoming the heart of on-chain trading," adding, "The 'BNB Meme Szn' phenomenon you are seeing now is actually the market realizing that BNB Chain has become the leading ecosystem for trading."
He also mentioned that the emerging cryptocurrency trends on the blockchain may gain attention more quickly because "the community has already built around the trading culture."
According to data from the blockchain intelligence platform Nansen, the most successful traders in the industry, known as "smart money" traders, have also begun to prioritize investments in BNB native Meme coins.
Nansen's data shows that the top three cryptocurrencies purchased by smart money traders are all BNB native tokens, with the platform displaying the 24-hour capital inflow for these tokens.
As of Tuesday, over 100,000 on-chain traders have purchased the new BNB native Meme coins, with about 70% of traders making a profit, according to blockchain data visualization platform Bubblemaps.
Among these 100,000 traders, one address earned over $10 million, 40 addresses earned over $1 million, and 900 traders made profits exceeding $100,000.
Meme coins are among the riskiest digital assets. Due to their lack of intrinsic value, these tokens rely solely on social sentiment to attract market attention.
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Original article: “BNB Chain's Meme Coins Create New Millionaires in a Frenzied Trading Week”
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