Translation: RPC Cat Friends Association (Nine Lives Community)

Good question. No one can be certain. Correlation does not imply causation. But here is an incomplete list of possible reasons. People often overestimate me. I haven't done much. I haven't technically participated like Vitalik. At best, I'm just a mascot, but more so a community member.

First of all, I think the new pro-cryptocurrency stance of the U.S. government may be the biggest influencing factor. Their position not only affects the U.S. but also most countries in the world. Now, most countries have adopted a pro-cryptocurrency stance. This is a huge boost for the entire industry. A rising tide lifts all boats.

Earlier this year, meme coins made a comeback on the BNB Chain. I actually made some mistakes that may have hindered the development of meme coins on the BNB Chain. I had never bought meme coins before. In my clumsy learning process, I may have caused some PVP (player versus player), which somewhat divided the community.

In the same process, I learned about the negative impacts of MEV attacks (again in the public eye). Subsequently, developers, nodes, block builders, wallets, DEXs, and other participants on the BNB Chain spent a lot of effort to reduce MEV attacks. Meanwhile, the block time on the BNB Chain increased from 3 seconds to 1.5 seconds, and then to 0.75 seconds. Capacity also significantly increased. Gas fees on the BNB Chain dropped tenfold overnight, making it one of the blockchains with the lowest transaction fees.

Trading volume surged further. The BNB Chain became the chain with the highest trading volume. Binance Alpha eliminated the requirement for project tokens to be listed on smaller exchanges first. Thus, it provided a more streamlined process for projects to evolve from DeFi to CeFi. I had no involvement in the design of Alpha. I learned about it through X.

With the return of meme coins, the BNB Chain also saw its trading volume grow in other areas, such as stablecoins, DEXs, AI, and RWA. WLF issued the first native stablecoin USD 1 on the BNB Chain, further enhancing the liquidity of stablecoins on the chain. The previous native stablecoin BUSD (not issued by Binance) was shut down by NYDFS in 2023, just before the collapse of three banks (Silvergate, Signature, Silicon Valley Bank), leaving a gap that was ultimately filled by USD 1. USD 1 is growing rapidly. Multiple RWA issuers are deploying on the BNB Chain. Hundreds of AI projects are being deployed on the BNB Chain.

The BNB Chain burned $1.6 billion worth of BNB last quarter, and also burned billions in the previous quarter. People often ask, why burn $1.6 billion? Why not spend it on marketing? Well… the SEC dropped the lawsuit against Binance, Binance US, and myself in May (under Gary Gensler's leadership). This eliminated the last attack on BNB potentially being a security. I'm not a lawyer, this is my layman's understanding. It may not be correct. But this is definitely good news for BNB.

YZiLabs (and other VCs) have invested/incubated dozens of strong projects on the BNB Chain. Existing projects on the chain are performing well. Pancake Swap is handling huge trading volumes. Lista is competing with Venus in DeFi lending. Four launched meme coins and RWA. Aster had a fantastic TGE…

Multiple DAT companies are buying BNB, with each purchase amounting to hundreds of millions. There are more developers on the BNB Chain. Strong community support. (Thank you, everyone!) … And many reasons I don't even know about … Lastly, the 0.25% interest rate cut yesterday surely helped in some way, even if I don't fully understand the mechanics behind it. Most importantly, I look forward to this vibrant ecosystem bringing more surprises. Keep building!

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