The cryptocurrency market is always full of drama, and this time, the spotlight is on Binance Smart Chain (BSC) with former Binance CEO Zhao Changpeng (CZ) at the center. With a series of unexpected moves, he has brought a Middle Eastern breeze into the BSC ecosystem, igniting a surge in meme coins like $Mubarak, while also ensuring the stability of BNB as a cornerstone. This "dual-driven" revival showcases CZ's market magic and raises questions: how far can BSC go behind this excitement? Let's break down the origins and developments of this trend.
Middle Eastern Friends Kickoff: MGX's $2 Billion "Blessing"
The story begins on March 12. On that day, Abu Dhabi investment giant MGX announced a $2 billion injection into Binance for a minority stake. This not only marked Binance's first institutional investment but also represented the largest stablecoin investment in cryptocurrency history. The market sensed a shift, and $BNB surged over 10% that day. MGX's status in the Middle Eastern and global investment circles made it seem like Binance had "hitched a ride on a big leg," and CZ was clearly not idle.
The next day, Binance's Chinese official account tweeted a post with a Middle Eastern flair, which CZ casually retweeted with the word "mubarak" (Arabic for "blessing"). This seemingly casual act ignited a fuse. The community quickly followed suit, with someone posting a meme saying "MUBARAK=CZ," to which CZ cheerfully responded, clearly enjoying the joke. Shortly after, he dug up an old tweet from 2021 saying "Inshallah" (meaning "God willing"), paired with a photo with the UAE president, and pinned the tweet. This series of actions seemed to lay the groundwork for the market.
$Mubarak's Surge: From Tweet to Billion-Dollar Market Cap
On March 15, CZ posted an update in Binance Square: "Going to meet a friend this weekend," casually including a meme of $Mubarak. What happened next? The price of $Mubarak in the BSC ecosystem skyrocketed by 150%, with its market cap surpassing $20 million and a 24-hour trading volume reaching $27.1 million. That night, Binance Alpha launched $Mubarak, pushing its market cap directly to $50 million. Market sentiment was completely ignited, and everyone felt that the meme coin craze on BSC was back.
But CZ's moves are always hard to predict. On the evening of March 16, he first unpinned the "Inshallah" tweet, causing the market caps of $Mubarak and $Inshallah to drop. However, not long after, he bought $TST and $Mubarak with 1 BNB each. This "test" led to $TST's market cap briefly exceeding $75 million, while $Mubarak surged over 120%, reaching a market cap of $62.8 million. Some in the community exclaimed, "When this man makes a move, he can turn the BSC ecosystem upside down."
The excitement continued. On the evening of the 16th, $Mubarak's market cap briefly hit $92 million, and by the morning of the 17th, it surpassed $100 million, peaking at nearly $150 million. As of now, according to GMGN data, $Mubarak's market cap has stabilized around $130 million, with a 24-hour increase of 158%. This surge is supported by the one-click token issuance platform Four.meme on BSC, and the $BNX project behind it has also seen good growth, indicating that the ecosystem's interconnected effects are fermenting.
BNB's Steady Course: Calm Layout Amidst the Surge
While $Mubarak's surge is eye-catching, CZ's vision clearly extends beyond that. BNB, as the lifeblood of BSC, is the foundation of this trend. Data shows that BSC's DEX trading volume in the last 24 hours reached $1.64 billion, surpassing Solana to take the top spot. The popularity of meme coins like $Mubarak has played a significant role in this. PancakeSwap's trading volume even surpassed Uniswap, with on-chain activities bustling.
CZ understands well that meme coins are a good tool for attracting traffic, but the stability of BNB is the long-term strategy. Some market analysts have noted, "If the main coin is unstable, no one dares to build liquidity pools, and meme coins won't thrive." CZ's strategy is to attract attention through new tokens and then let that traffic settle into BNB, creating a flywheel effect. Recently, Binance also launched a liquidity support program, with projects like $Broccoli receiving funding injections, boosting retail investor confidence.
Cool Reflections Amidst the Heat Wave: Risks and Future
This surge looks thrilling, but the risks are significant. Meme coins rise quickly but can also fall hard. $TST and $Broccoli have both experienced rollercoaster market conditions, with retail investors laughing when they profit and crying when they lose. BSC's infrastructure also has shortcomings; when traffic surges, the platform can easily lag or even crash. CZ himself has mentioned that the meme coin ecosystem on BSC is not mature enough, which sounds like a reminder and a way to leave himself some room.
Some have questioned whether CZ's approach is too short-sighted. Relying on meme coins to heat up the market is quick, but can it bring real value and user retention? If it's just a "massacre on-chain," what might be left after the excitement is just a mess.
What about the future? BSC has many opportunities. If BNB can leverage this momentum to rise again, and if TVL and user numbers follow suit, the ecosystem could become more solid. Technical upgrades also need to be prioritized; otherwise, once the excitement fades, losing users could become a problem. CZ's influence is currently top-tier, but the market will always evolve, and he needs to ensure BSC can stand on its own. Looking ahead, with Ethereum being expensive and Solana unstable, BSC actually has the advantage of low cost and high efficiency; it just depends on whether it can seize this window of opportunity.
Conclusion: CZ's Experiment and BSC's Tomorrow
CZ has ignited a fire for BSC with the Middle Eastern breeze and meme coins. From MGX's $2 billion entry to $Mubarak's billion-dollar market cap, he has played the market sentiment like a magician. However, the core of this experiment remains the steady progress of BNB. The surge is a catalyst, and the foundation is the lifeblood; both are indispensable.
For investors, this is a game that is both exciting and dangerous, with opportunities and risks coexisting. For BSC, CZ has made a good start, but the road ahead must be paved by the ecosystem itself. Is this wave initiated by CZ just a fleeting moment or the starting point of a new chapter? We shall see.
This article represents the author's personal views and does not reflect the stance or views of this platform. This article is for information sharing only and does not constitute any investment advice to anyone.
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