Author: Biteye Core Contributor Viee

Editor: Biteye Core Contributor Denise

01. Frequent Positive Developments in the BNB Ecosystem, Market Focus Continues to Return

Since mid-October, the BNB Chain ecosystem has maintained its momentum, with key events occurring one after another. Traditional financial institutions have entered the space, with China Merchants Bank International launching a $3.8 billion dollar money market fund on the BNB Chain, and YZi Capital announcing an investment of approximately $100 million for projects within the BNB ecosystem. These positive developments further solidify BNB Chain's leading position in the industry. Just yesterday, with the news of CZ receiving a pardon, market sentiment saw a significant boost once again. The last remaining cloud of regulatory uncertainty hanging over the BNB ecosystem has dissipated. Trust restoration has become the starting point for a new round of capital, users, and narrative resonance for BNB Chain.

At the same time, BNB Chain has integrated with the prediction market platform Polymarket, allowing users to deposit and withdraw directly through the BNB Smart Chain (BSC), opening up a new scenario of "prediction + trading." Additionally, BNB has been listed on two major centralized exchanges, Robinhood and Coinbase, gaining greater global financial access. On the stablecoin front, StraitsX announced support for the native issuance of USDT on BSC, further enhancing on-chain payment and settlement capabilities. A strategic partnership with Better Payment Network (BPN) aims to build a multi-stablecoin-driven global settlement network, enhancing payment capabilities on BSC. The "Binance Life" Chinese meme token has launched on the Binance contract platform and Base App, keeping market funds and attention focused on the BNB ecosystem.

Furthermore, the ongoing $45 million "Rebirth Support" BNB airdrop plan by Four.meme in collaboration with the BNB Chain ecosystem has completed its first two batches of airdrops, rapidly restoring confidence after the "10.11 crash."

Looking back at this market cycle, despite a sharp decline on October 11, BNB was one of the few mainstream assets that quickly recovered its losses and drove a simultaneous rebound in on-chain activity. From community enthusiasm to capital inflow, BNB Chain is forming a triple resonance of "platform narrative + user growth + capital return." If 2021 was the golden age of the Ethereum ecosystem, then 2025 could be considered the home ground for BNB Chain.

02. Three Forces Supporting the Narrative Behind BNB Chain

2.1 Breaking the Narrative Barrier: "Binance Life" Triggers a Chain Reaction

One of the key catalysts for the recent surge in BNB Chain's popularity is the launch of the meme coin "Binance Life" on Binance perpetual contracts. This not only breaks the old perception that "Chinese memes cannot be listed on major exchanges," but also marks the beginning of the narrative of native projects on the BNB chain being exported to centralized platforms, forming a stronger mainstream acceptance. Moreover, "Binance Life" has now expanded to the Base App, with its narrative influence breaking the boundaries of a single chain. Additionally, Binance recently launched a dedicated section for Chinese trading pairs, which could further support the exposure of Chinese projects.

From an ecosystem perspective, this wave of meme culture centered around Chinese culture is no longer limited to "content memes," but is driving product upgrades on the platform side and narrative strategy adjustments from project parties. This has not only boosted on-chain activity but has also begun to draw attention back to other products and tracks within the Binance ecosystem (such as Alpha, Pre-TGE, etc.), opening up a broader radius of influence for BNB Chain.

2.2 Solid On-Chain Fundamentals: Low Cost, High Performance, Large User Base

The ability of BNB Chain to attract a large influx of funds and users is closely related to its performance and cost advantages. Previously, BNB Chain further shortened block times and halved gas fees, driving a surge in on-chain activity. According to statistics from DefiLlama and others, BNB Chain's daily on-chain transaction volume peaked at 30 million transactions in early October; in terms of DEX trading, BNB Chain's daily trading volume even surpassed Ethereum and Solana at one point.

2.3 Binance Ecosystem's Combined Efforts: Issuing Platform + DEX + CEX Creating Ample Liquidity

The explosive growth of BNB Chain is inseparable from the liquidity support system of the Binance ecosystem. First, Binance Alpha and Aster provide an environment similar to "mini Binance," allowing popular on-chain tokens to be quickly listed for trading. Additionally, the emergence of launch platforms like Four.Meme has greatly enriched the project supply on BSC, providing low-cost one-click token issuance channels, allowing various memes to flourish on-chain in a short time. Furthermore, Binance's official wallet recently launched the "Meme Rush" feature, standardizing and guiding the on-chain meme token issuance process in stages.

These elements form a unique "liquidity closed loop" for BNB Chain. After a token is listed on Alpha, it then moves to Aster DEX spot trading + Binance futures, ultimately landing on the Binance main board, with each step driving the token price higher.

03. The Wealth Creation Effect of BNB Chain Spreads, On-Chain Activity Remains High

During the peak of the meme craze in early October, over 100,000 addresses participated in the BNB Chain meme wave, with nearly 70% of early traders at one point in profit. Multiple BNB Chain meme coins saw their market capitalization soar, with successful memes traceable to factors such as narratives aligning with community sentiment, abundant on-chain liquidity, and community interaction serving as a catalyst.

After the significant market correction on October 11, BNB Chain became one of the few public chains where "prices did not fall, and data improved." According to the latest data, as of October 20, the number of daily active addresses on BNB Smart Chain has surpassed 2.58 million, up over 20% from the month's low. The daily transaction count on-chain also reached 18.77 million, still above the early month's level.

From the trend chart, since May, the number of active addresses on BNB Chain has climbed from an average of less than 1.5 million to a peak of over 3 million in mid-July, followed by multiple strong surges driven by the meme craze; the transaction count has also been on a continuous upward trend since June, with a significant explosion in early October, reaching nearly 28 million transactions in a single day. Although there has been some pullback since then, it remains in a strong range above 20 million transactions.

This series of data confirms a fact: the current market enthusiasm for BNB Chain is not a bubble, but rather a synchronous growth accompanied by real users and on-chain activities, with user retention and interaction frequency indicating a positive cycle of the ecosystem's "second growth curve."

04. How to Find the Next Opportunity on BNB Chain?

Based on the experience from this market cycle, there are several key channels and signals to consider.

To determine whether an Alpha project has explosive potential, one can look for four signals:

• First is rising enthusiasm. When a project's name, logo, and meme images frequently appear on X and Telegram, and the number of comments and interaction rates suddenly increase, it often indicates that market attention is concentrating.
• Second is community fermentation. Pay attention to the number of holding addresses, group activity, and user-generated content. Whether a project can generate "organic" spread depends on whether users are actively creating content rather than just waiting for prices to rise.
• Third is interaction with celebrities like CZ. Likes and retweets are seen as strong signals.
• Finally, capital aggregation. When on-chain whale addresses continuously buy up tokens in a short period, it is a typical sign of "smart money entering," and such signals are usually most concentrated a few hours before a price surge.

When these four signals appear simultaneously, it indicates that a project's narrative, community, and capital are resonating—this is the key moment for an Alpha project to enter the explosive zone.

In terms of specific operations:

1. Keep a close eye on Binance Alpha's new project announcements, as trading enthusiasm is expected to rise in the short term.

Additionally, Binance has previously launched the Pre-TGE Prime Sale model, which is an upgraded version of the original Pre-TGE, with a larger sales scale and longer cycle. The participation process is divided into three steps—first, recharge with BNB to subscribe (over-allocation, everyone can participate), and after the subscription ends, the system distributes tokens proportionally, which can be traded on the Binance Alpha market once the project TGE goes live.

2. Use XHunt to track real-time dynamics.

XHunt has launched a new BNB Feed feature, integrating important updates related to the Binance ecosystem, along with AI summaries. It also supports sound alerts and pop-up notifications, suitable for Alpha traders to respond quickly 24/7.

3. Participate in early trading on on-chain DEXs like PancakeSwap and Aster.

For sharp on-chain players, discovering new tokens with a sudden increase in trading volume on DEXs like PancakeSwap is one of the effective ways to catch a dark horse.

4. Use the Binance Wallet "Meme Rush" feature.

The Binance wallet has launched the Meme Rush feature, which is essentially a launchpad developed in collaboration with Four Meme. It has two core differences from ordinary launchpads:

First, participation is limited to users with the built-in Web3 wallet in the Binance App (who have completed KYC).

Second, the migration cap for internal trading is higher.

So, how can we leverage Meme Rush to find and participate in early meme projects? Its interface is typically divided into three core areas, representing different stages of projects: new tokens, upcoming releases, and migrated tokens.

New Tokens: This area contains a mix of projects with high risk and noise, suitable for seasoned players who enjoy digging for ultra-early Alpha to conduct preliminary research and screening.

Upcoming Releases: This section lists projects that are about to migrate from internal to external trading, belonging to those with capital buy orders. If we are not too picky, we can pay attention to interesting projects in this list.

Migrated Tokens: This section lists projects that have migrated from internal to external trading, which all users can purchase. It also represents a selection of the best.

In addition to chain-sweeping features like Meme Rush, the Binance wallet also provides decision-making tools—a KOL monitoring list.

This feature's greatest innovation lies in its binding of wallet addresses to KOL identities. Other products allow you to track a string of anonymous addresses, while the Binance wallet lets you directly track KOL investment portfolios. It clearly displays the complete holdings and detailed transaction records of specific KOLs, allowing for intuitive analysis of different KOLs' holdings, win rates, and investment styles.

05. Long-Term Outlook: The Market Continuity Driven by the Flywheel Effect of BNB and BNB Chain

As the current BNB Chain market evolves, a noteworthy question arises: can the rise driven by the resonance of capital, users, and narratives transform into a long-term bull market for the BNB ecosystem?

5.1 Flywheel Effect: Positive Feedback Loop from Trading to Price

From a fundamental perspective, BNB Chain is forming two powerful "flywheel effects" that support market continuity:

Trading-Burning Flywheel

The surge in on-chain trading volume provides direct support for the price of BNB. As the fuel for the BSC network, BNB's economic model includes a dual deflationary mechanism: on one hand, Binance executes automatic BNB burns quarterly, and on the other hand, BSC implements BEP-95 real-time burning, directly destroying a portion of transaction fees to reduce supply. In the current meme trading frenzy, a large amount of BNB is continuously consumed. This sustained burning driven by trading demand enhances BNB's scarcity. Therefore, this round of BNB's rise is not only driven by market sentiment but also reflects the unique intrinsic value and deflationary mechanism of the BNB Chain ecosystem. As users continuously trade meme coins on-chain, they inadvertently elevate BNB's intrinsic value, forming a virtuous cycle of "the more usage, the more burning, the higher the price."

Ecosystem-Funding Flywheel

The capital return brought about by the expansion of the BNB Chain ecosystem is also significant. On one hand, a plethora of new projects attracts investors, and users must purchase BNB as gas or trading pair collateral to participate in popular opportunities on the BSC chain, leading to sustained buying pressure. On the other hand, many meme coin winners who have become wealthy choose to convert a portion of their profits back into BNB or invest in other projects within the BNB ecosystem, keeping most of the funds circulating within BNB Chain. In the long run, as BNB Chain continues to roll out technological upgrades, the types of applications and user scale that can be supported on-chain will further expand, injecting new growth points into the ecosystem. As long as the two wheels of ecosystem prosperity and capital inflow continue to roll, the price of BNB and the overall market capitalization of the ecosystem are expected to maintain a strong upward trend.

5.2 Long-Term Value of BNB Chain and Bull Market Logic

If the flywheel explains the "mechanical principle" behind BNB's price increase, then the long bull logic of BNB Chain lies in its ability to form a continuously growing ecological potential.

From on-chain data, the rise of BNB Chain is not built on a bubble but is supported by real on-chain activity. The previously mentioned core indicators such as active addresses, trading volume, and TVL have all reached historical highs, indicating that the underlying driving force of this meme market comes from the participation of real users and capital flow, rather than mere speculation.

From an ecosystem perspective, the success of this meme season is a concentrated manifestation of community power: the interaction between CZ and the community has become a catalyst for dissemination; the cohesion of the Chinese-speaking community has made the narrative more vibrant; additionally, the favor of traditional leading brokerages and institutions has enhanced the adoption of BNB. The combination of these three factors forms the true underlying logic of BNB Chain's long bull market— the resonant cycle of capital, users, and narratives.

At the same time, BNB has also made breakthroughs in institutional adoption: it has been listed on two major platforms, Robinhood and Coinbase, and several publicly traded companies have announced plans to acquire BNB.

More importantly, this round of enthusiasm for the BNB ecosystem demonstrates a healthier endogenous cycle, with mechanisms for funds to remain circulating within the ecosystem, real user growth, and narratives supported by cultural connotations and community consensus.

Therefore, the rise of BNB Chain may be moving towards a long-term positive feedback development phase.

06. Conclusion

This round of rise for BNB Chain is not only a victory for the market but also a self-proving of the ecosystem. It shows the outside world that, in the long crypto cycle, users and liquidity are the most solid moats.

Whether from the heat of memes, on-chain activity, or capital flow, BNB Chain is forming its own "resonance system"—trading brings heat, heat brings traffic, and traffic feeds back into price. This is the natural selection of market forces and the inevitable echo of community consensus.

Of course, BNB's long bull market cannot rely solely on short-term emotions; it must continue to be built on real trading, robust mechanisms, and user trust. Only when these fundamentals are solid will the price have meaning. From this perspective, the second half of BNB Chain is not just about continuing the heat of the previous round but entering a new phase: moving from short-term explosions to long-term construction; from wealth creation myths to ecological value.

The BNB cycle may have just begun.

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