Original | Odaily Planet Daily (@OdailyChina)
Recently, BNB Chain has been quite lively. On one hand, the price of BNB has repeatedly hit new highs, reaching a peak of $1349, with a monthly increase of over 25%. BNB's market capitalization once surpassed USDT, ranking it as the third largest cryptocurrency. On the other hand, the Meme season on BNB Chain has erupted again, sparking a Chinese language craze globally. Not only do overseas Meme investors want to integrate into the Chinese Meme community, but many overseas project teams are also learning and speaking Chinese.
On October 9, the newly launched Meme Rush platform by Binance Wallet attracted widespread market attention. Its successful launch of the first Meme coin migrated to DEX, BNBHolder, saw its market cap exceed $100 million within half an hour. This indicates that currently, people, funds, and traffic are all concentrated on BNB Chain.
The Bull Market Belongs to BNB Chain
There is no doubt that this bull market belongs to BNB Chain, as reflected by the flourishing on-chain indicators of its ecosystem.
According to Artemis data, the DEX trading volume on BNB Chain has been steadily increasing since September, comparable to Ethereum and Solana. As October began, with the on-chain heat continuing to rise, on October 8, the DEX trading volume on BNB Chain surpassed Ethereum and Solana for the first time, becoming the number one in the network. The momentum has not diminished, and the gap between BNB Chain and Ethereum and Solana has widened. On October 8, the DEX trading volume on BNB Chain reached $6.38 billion, while Solana only reached $4.96 billion.
At the same time, DeFiLlama data shows that the TVL of BNB Chain has been steadily growing. In April 2025, the TVL of BNB Chain was about $8 billion, and in just six months, its TVL has reached $16.38 billion, with a growth rate exceeding 100%. The increase in TVL not only reflects investors' trust in BNB Chain but also signifies the gradual prosperity of the BNB Chain ecosystem, bringing more investment opportunities to investors.
From the perspective of on-chain fees, the enthusiasm for trading can be further observed. Artemis data shows that the on-chain fees of BNB Chain surpassed Tron on October 5, becoming the number one in the network. Since then, it has maintained a significant lead, with BNB Chain's on-chain fees reaching $3.2 million on October 8, while the second place, Tron, was at $1.3 million.
Funds are always profit-driven, and the rise in user trading enthusiasm indicates a wealth effect on BNB Chain, attracting Meme players to gather there. The data from the Meme issuance platform Four.meme is also noteworthy. According to Dune data, the Four.meme platform currently has total revenue exceeding 35,231 BNB (approximately $45 million), and its revenue over the past seven days has surpassed Pump.fun, with daily unique users exceeding 70,000.
Of course, BNB Chain is not just a "Meme chain." The previously popular Prep DEX market also featured BNB Chain as a key player. Artemis data shows that on September 23, Aster's on-chain contract trading volume surpassed Hyperliquid, becoming the number one in the network, with a peak single-day contract trading volume reaching $99 billion.
Aster's success is inseparable from the support of BNB Chain, with its current TVL reaching 2.44 billion dollars, of which funds on BNB Chain amount to $2.167 billion, accounting for as much as 88%.
The comprehensive prosperity of BNB Chain has made other public chains pale in comparison. In the past, BNB Chain seemed to be the perennial third place, always overshadowed by Ethereum and Solana. People even habitually thought that Solana's only competitor was Ethereum. This time, BNB Chain topping various data metrics is unexpected.
Solana shared the song "Many Men (Wish Death)" by American rapper 50 Cent on social media to express an "undefeated" stance, while BNB Chain responded with 50 Cent's "Window Shopper," showcasing an attitude of "I prove myself through hard work and counter the onlookers." Both are rivals chasing each other and fellow travelers in the crypto industry.
BNB Chain's Journey of Cultivation
However, some opinions still suggest that BNB Chain's current popularity is merely a data performance driven by CZ and He Yi's "calls" that have sparked the Meme market, rather than a successful "cultivation" by BNB Chain itself. After the Meme craze subsides, BNB Chain may still be surpassed by Solana or even fall into silence.
Regarding the Meme calls, CZ responded that the explosion of Meme coins on BNB Chain is not a deliberate endorsement but purely a coincidental overlap, and does not represent approval. Perhaps the explosion of BSC Meme coins is indeed a result of the right timing, location, and people, but the current prosperity of BNB Chain is by no means a coincidence.
On October 10, Binance co-founder He Yi published a long article on Binance Square, systematically explaining his entrepreneurial cultivation philosophy of "Dao, Fa, Shu, Qi." The current bull market scenario of BNB Chain is also a result of its advancements in techniques and tools.
Trading Engine for Quality Assets
Becoming a trading engine for quality assets has always been one of BNB Chain's "cultivation" goals. To achieve this goal, BNB Chain must possess sufficient throughput capacity and sufficiently low on-chain fees. To this end, BNB Chain has undergone multiple technical upgrades this year. The Lorentz and Maxwell hard fork upgrades in April and June reduced BNB Chain's block time to 0.75 seconds, greatly enhancing network responsiveness, which also provided solid "logistical support" for the current BSC Meme boom.
At the end of September, BNB Chain's transaction fees were reduced from 0.1 Gwei to 0.05 Gwei. Such improvements have attracted more users and developers. Recently, BNB Chain's daily Gas usage has surpassed 50 trillion, primarily driven by 24 million Swap transactions, accounting for 77% of the total network trading volume, bringing it one step closer to the roadmap of a high-performance trading public chain.
Sufficient Funding and Builder Support
In addition, BNB Chain also provides ample funding support for ecosystem development. On October 8, BNB Chain announced the establishment of a $1 billion Builder Fund, supported by YZi Labs, aimed at increasing support for founders of BNB ecosystem projects. The fund supports tracks including trading, RWA (real-world assets), artificial intelligence (AI), DeSci (decentralized science), DeFi, payments, and wallets, enabling project teams to fully leverage BNB Chain's high-performance, low-cost infrastructure.
At the same time, BNB Chain's flagship accelerator program "Most Valuable Builders" (MVB) has been helping builders within the ecosystem grow. Over the past ten quarters, MVB has supported over 200 projects, assisting founders and builders in improving products, obtaining funding, and reaching millions of users.
RWA, Stablecoins, and AI Still Making Strides
Currently, the Meme and DEX on BNB Chain have attracted most of the market's attention, but in terms of RWA, stablecoins, and AI, BNB Chain also provides comprehensive infrastructure support. BNB Chain has the most complete RWA stack, from compliant issuance, secondary liquidity to DeFi functions, all within one ecosystem. BNB Smart Chain is responsible for secure, low-cost, and real-time execution and settlement of transactions, opBNB is used for high-throughput rollups, and Greenfield is for decentralized data storage. Many mainstream companies have chosen BNB Chain to issue RWA, including Circle, VanEck, and Ondo.
At the same time, BNB Chain's "One BNB" architecture (composed of BSC, opBNB, and BNB Greenfield) also provides strong infrastructure support for the development of AI projects, offering the scalability, speed, and secure data management required for advanced AI applications.
BNB Chain is also actively promoting the development of the stablecoin ecosystem. BNB Chain has launched a "0 Fee Transfer" event for stablecoins, where users can transfer USDT and USD 1 on BNB Chain without paying Gas fees until October 31. Since the launch of this event on September 20, 2024, BNB Chain has covered over $5 million in Gas fees for users. In addition to waiving fees, BNB Chain is also integrating USD 1 into more protocols and strengthening collaborations with more exchanges, wallets, and bridges. These initiatives not only save users real money but also contribute significantly to reducing the usability barriers of stablecoins and expanding their usage.
In summary, the current success of BNB Chain is not accidental but the result of accumulated efforts over time. Without the support of BNB Chain, Four.meme might not have achieved its current success surpassing Pump.fun, and Aster would not have become a presence exceeding Hyperliquid. Similarly, with the continuous support of BNB Chain, the fields of RWA, AI, and stablecoins may also experience a boom in the future, akin to the current prosperity of Meme and DEX.
"Dual Cultivation of Coins and Stocks"
In addition to building its ecosystem in the crypto-native field, BNB Chain is also actively expanding the boundaries of BNB in traditional finance. Many traditional financial institutions have recognized the long-term value of BNB and are actively establishing BNB DAT treasury. "We have contacted about 50 potential DAT teams, but will only support a few strong companies," CZ stated in mid-September, indicating that many institutions are interested in BNB, but he will not support them blindly.
Currently, the company holding the highest market value of BNB treasury is CEA Industries, which conducted a $500 million private placement financing in July with the support of YZi Labs and currently holds 480,000 BNB, valued at over $600 million.
In recent years, Binance, along with BNB, has faced regulatory scrutiny, but now, with a shift in regulatory attitudes, BNB Chain, which is flourishing in the fields of Meme, DeFi, stablecoins, and AI, is being recognized and "bought into" by traditional finance.
The Evolving BNB Chain
To take a step back, the beginning of the current Meme craze on BNB Chain is still a familiar formula, the familiar "CZ-style Build." In February and March of this year, CZ brought immense traffic and a Meme frenzy to BNB Chain through his personal influence, with Meme concepts like CZ's pet dog and Arab imagery becoming popular, only slightly less heated than the current Chinese Meme craze.
However, at that time, BNB Chain was often criticized by the community for its poor on-chain trading experience and frequent delays, lacking timely marketing support to match the massive traffic brought by CZ. As a result, once the market sentiment was exhausted, BNB Chain returned to calm.
Now, having learned from past lessons, BNB Chain is no longer the "newbie" it was at the beginning of the year. With solid infrastructure, BNB Chain is operating stably in the face of this greater on-chain heat and influence, with no complaints about the smoothness of transactions; at the same time, the official BNB Chain team is working more closely with CZ, actively responding to community concerns and establishing a fair trading environment for users.
In the crypto world, a day is like a year in the human world, and in such an environment, "self-renewal" is more valued. Although there are no eternal kings in this market, BNB Chain has already provided the answer on how to maintain a foothold in each cycle and continuously evolve and "cultivate."
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
