Original Author: Scof, ChainCatcher
Original Editor: TB, ChainCatcher
Recently, the BNB Chain ecosystem has heated up again. After the Binance Alpha platform ignited on-chain participation, both the trading volume and the number of active addresses on the BNB Chain have seen rapid growth. On May 19, the daily trading volume of Binance Wallet reached as high as $5 billion, accounting for 95.3% of the market share of the top 12 mainstream wallets, setting a new historical record.
One of the core driving forces behind this explosion is Binance Alpha's guidance of Web3 projects with a "low threshold + high incentive" approach. Users can interact on-chain without a wallet, participate in token presales and airdrops, which has driven a surge in interest for Alpha projects after their launch. Under this dual drive of Alpha + Meme, several tokens have experienced a dramatic increase in trading volume in a short period.
Here are the 10 most active tokens on the BNB Chain currently, along with a brief analysis of their projects.
1. $B (BUILDon)
24H Trading Volume: $3.7 billion
Market Cap: $1.7 billion
Active Trading Users: 11,619
24H Transaction Count: 54,639
BUILDon is a meme coin on the BNB Chain, with a lion as its mascot, initially issued through the Fourmeme platform. It started with a market cap of only a few million dollars until mid-May when the project announced a binding with USD1 and co-hosted a trading competition, marking a turning point in trading activity.
After its Alpha launch, the trading link directly pointed to $B, attracting market attention. Now, $B has become one of the main liquidity pools for USD1 and has received official support from WLFI, with a peak market cap exceeding $400 million, making it the most strategically significant meme project on the BNB Chain.
2. $B2 (B² Network)
24H Trading Volume: $7.1 billion
Market Cap: $29.2 million
Active Trading Users: 26,410
24H Transaction Count: 306,723
B² Network is a zk Rollup Layer2 network on Bitcoin, compatible with EVM, supporting interactions between BTC and ETH addresses. With the positioning of being "the most practical L2 for Bitcoin," it has become one of the hot projects in the current multi-chain interoperability track.
3. $KOGE (48 Club)
24H Trading Volume: $1 billion
Market Cap: $8.4 billion
Active Trading Users: 10,782
24H Transaction Count: 193,047
KOGE is a token initiated by the 48 Club community. The 48 Club is the first DAO on the BNB Chain, active since 2018, with over 500 members, focusing on ecological investment, technical operations, and community governance.
After Binance Alpha ignited traffic, this established community token re-entered the market spotlight, with $KOGE rising to a trading volume exceeding $1 billion.
4. $RWA (Allo)
24H Trading Volume: $101 million
Market Cap: $23.2 million
Active Trading Users: 27,691
24H Transaction Count: 119,585
Allo is a Layer1 platform focused on the tokenization of physical assets, supporting on-chain trading of high-value assets such as real estate and artworks, having completed the tokenization of $2.2 billion in assets.
$RWA is its native token, which has quickly become a focal point of on-chain interest due to the resurgence of the RWA concept and the platform's strong fundamentals.
5. $MERL (Merlin Chain)
24H Trading Volume: $96.9 million
Market Cap: $5 million
Active Trading Users: 7,129
24H Transaction Count: 111,542
Merlin Chain is a Bitcoin L2 project supported by Bitmap, building applications such as the metaverse and DeFi based on BTC layer assets, positioning itself as "making Bitcoin fun again."
As one of the first projects to launch on Binance Alpha, $MERL continues to attract capital inflow under the dual support of ecological narrative and platform backing.
6. $SKYAI (SKYAI)
24H Trading Volume: $90.5 million
Market Cap: $5.68 million
Active Trading Users: 5,600
24H Transaction Count: 130,724
SKYAI is a data bridging protocol serving AI intelligences, connecting multi-chain data with large language models based on the MCP standard, representing a cross-section of AI + Infra.
Its token is actively traded on chains like Solana and BSC, and with the anticipated opening of the MCP market, its ecological potential continues to attract attention.
7. $BANK (Lorenzo Protocol)
24H Trading Volume: $78 million
Market Cap: $32.9 million
Active Trading Users: 2,682
24H Transaction Count: 104,024
Lorenzo Protocol is a modular Bitcoin L2 infrastructure based on Babylon, supporting smart contract execution and USD1 liquidity access, emphasizing security and asset compatibility.
Currently, it belongs to the USD1 strategic expansion camp alongside BUILDon, successfully capturing the traffic bonus from the Alpha platform through narrative resonance.
8. $AIOT (OKZOO)
24H Trading Volume: $59.3 million
Market Cap: $16.7 million
Active Trading Users: 5,234
24H Transaction Count: 66,038
OKZOO is a project that combines AIoT, DePIN, and GameFi, collecting environmental data through P-mini hardware, allowing users to earn $AIOT token rewards.
The project has its own hardware manufacturing capabilities, with over ten million ecological users, and after the launch of V2 virtual pets, it quickly became a star project in the evolution direction of DePIN.
9-10. $CZPizza / $PizzaCZ
$CZPizza
24H Trading Volume: $6.4 million
Market Cap: $5,800
Active Users: 1,146
Transaction Count: 5,197
$PizzaCZ
24H Trading Volume: $790,000
Market Cap: $340,000
Active Users: 1,089
Transaction Count: 1,588
These two meme coins originated from a tweet on May 22 when CZ changed his profile picture, humorously referred to by the community as the modern version of "Pizza Day." By tying meme culture to trending topics, they quickly became a short-term speculative hotspot, but lack technical or application support, making them typical trend-following assets.
Conclusion: Ecological Hotspot Rotation Driven by Alpha
From meme narratives to AI Infra, from Bitcoin L2 to DePIN environmental data collection, these tokens not only represent traffic but also reflect how the Binance Alpha platform is guiding a structural renewal of the BNB Chain ecosystem.
Through TGEs, airdrops, and the Alpha Points incentive mechanism, Alpha has achieved a participation model of "low-threshold participation + high-return expectations," allowing quality projects to gain early attention and driving comprehensive activity in on-chain trading.
The next wave of narratives for the BNB Chain may have quietly begun to unfold among these tokens on the trading leaderboard.
(This article is for reference only and does not constitute investment advice.)
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