Original | Odaily Planet Daily (@OdailyChina)
Recently, a Meme coin called BUBB on the BNB chain has gained attention in the community, as Binance founder He Yi interacted with it and followed it on the X platform in the early hours of March 21. According to GMGN data, after He Yi's interaction, BUBB's market cap rose from $2.5 million to $27 million, an increase of over 10 times, and after a brief pullback, it reached a new high, with a market cap peaking at $34 million.
BUBB is not a standard "riding on He Yi's coattails" coin; it is a hand-drawn art style Meme coin created by @vutnerable. This Meme coin was launched on the Four.meme platform in the early hours of March 20, and its market cap had previously reached a maximum of $6 million before He Yi's interaction.
The general consensus in the community is that BUBB will become the leader of art-style Meme coins on the BNB Chain, filling the gap in this Meme sub-sector on the BNB Chain. Additionally, BUBB has significant importance as its emergence signifies that the BNB Chain has attracted considerable attention from overseas Meme players and developers, whereas previously, art-style Meme coins were mostly issued on the Solana chain. This also indicates that the Meme scene on the BNB chain is entering a new era, with on-chain hotspots gradually shifting away from just CZ and He Yi, and more original, community-driven Memes are on the rise.
Is BSC Meme really different this time?
This week, Mubarak surged due to CZ's frenzied mentions over the weekend. On Monday, we expressed concerns about whether the "CZ-style Build" would continue to be effective for the BNB Chain, as data from February indicated that the "CZ-style Build" had not retained players and funds on the BNB Chain (Related reading: In the winter of Memes, can the CZ-style Build bring spring back to the BNB Chain?).
Data Perspective: Heat Remains Unabated for a Week
However, after a week of observation, surprisingly, the on-chain heat of the BNB Chain has not diminished. Although there have not been significant changes in TVL and on-chain activity, the DEX trading volume and data from the main Meme issuance platform, Four.meme, are quite impressive.
Starting with DEX trading volume, Artemis data shows that from March 14 (the initial surge of Mubarak) to now, the BNB Chain's DEX trading volume has consistently outpaced Solana, Ethereum, and Base.
According to DeFiLlama data, the BNB Chain's DEX trading volume reached $14.22 billion in the past week, ranking first among blockchains, while Solana dropped to third place after Ethereum; the main DEX on the BNB Chain, PancakeSwap, also became the DEX with the highest trading volume in the past week.
Looking at the data from Four.meme, according to Dune data, the Four.meme platform currently has total revenue exceeding 6,266 BNB (approximately $4 million), an increase of about $1.5 million since the last statistics (March 17). The daily number of unique users, the number of tokens launched daily, and daily trading volume have all shown an overall upward trend in the past week.
In summary, the current Meme craze on the BNB Chain shows stronger on-chain activity compared to the TST and CZ pet dog in February, with attention not fading within one to two days. Of course, from another perspective, the official support has also played a significant role; this week, Binance co-founder He Yi has noticeably increased his activity on social media and actively interacted with the community and project parties, with today's explosive performance of BUBB being a vivid example.
Additionally, the first phase of the voting for new coin listings launched by Binance on March 20 not only mobilized the enthusiasm of various Meme communities in the short term but also extended the expectations for BSC Meme to be listed on Binance's spot market until March 27. As long as the community can see hope, the heat of Meme on the BNB chain will not quickly fade.
New Narratives Emerging, No Longer Relying on He Yi and CZ
In addition to the appealing on-chain data, the narrative surrounding this Meme craze is gradually shifting away from He Yi and CZ. In February, both TST and the CZ pet dog were closely tied to CZ as on-chain hotspots, and last weekend's Mubarak also had this characteristic. However, for a Meme ecosystem to develop healthily, it cannot solely rely on the founder's endorsements; it needs Memes with higher community autonomy and better originality.
This week, the autonomy of Memes on the BNB chain is increasing. In addition to the hand-drawn art style Meme coin BUBB mentioned at the beginning of the article, the Zoo series on the BNB Chain is also rising, with the Meme coin ALANDALDS currently enjoying relatively high popularity, with a market cap peaking at around $1.2 million.
All these trends may indicate that this time BSC Meme is indeed going to be different?
In Conclusion
However, some viewpoints suggest that these are merely superficial illusions; a week of appealing on-chain data does not indicate any substantial issues, and Meme coins like BUBB and ALANDALDS have not actually escaped the influence of He Yi and CZ, as they still gained attention because of them.
Essentially, Memes on the BNB Chain can still be divided into two categories: one is directly related to CZ or He Yi, promoted and mentioned by them, such as Broccoli and Mubarak; the other is Meme concepts that CZ and He Yi interact with or may be interested in, such as BUBB or other style Memes like AI.
Regardless, in the overall quiet environment of the crypto market this week, the Memes on the BNB Chain and the new listings on the Binance wallet have become some of the few things that can resonate with players. Some are talking about getting rich quickly, while others are still observing. How long this Meme craze on the BNB Chain can last and what will happen next week, we will continue to observe.
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