Coin Market

BNB Chain catches memecoin wave as Solana wipes out

Published

1 month ago

March 31, 2025

BNB Chain, the EVM-compatible network tied to cryptocurrency exchange Binance, is experiencing a resurgence in the decentralized finance (DeFi) and memecoin spaces just as some of its rivals face an identity crisis.

For most of 2024 and into early 2025, Solana dominated the retail DeFi narrative. It became the network of choice for memecoins tied to celebrities, influencers and political figures, including US President Donald Trump.

However, the ecosystem took a reputational hit after Argentine President Javier Milei jumped on the memecoin bandwagon. His associated project, “Libra,” was accused of insider trading. The controversy dented trust in Solana’s memecoin sector and opened the door for competitors.

BNB Chain has seized the moment, capturing displaced memecoin volume. The chain has its own memecoin platform, Four.Meme — comparable to Solana’s Pump.fun — and introduced daily competitions to promote new projects and subsidize their liquidity. Some of these memecoins have even gone on to secure listings on Binance itself.

This momentum is clearly reflected in the trading volume of the network’s top decentralized exchange (DEX), PancakeSwap. In a two-week stretch from March 15, PancakeSwap led all EVM chains’ DEX volume on nine separate days, according to Dune Analytics data.

PancakeSwap on BNB Chain dominates the second half of March in DEX volume. Source: Dune Analytics

“It’s worth noting that PancakeSwap’s recent volume spike likely stems from renewed retail enthusiasm for BNB memecoins. Unlike other ecosystems where meme-related volume has declined over recent weeks, BNB Chain has seen significant growth in this sector,” said Justin Barlow, head of business development and investments at Sei Foundation.

In a written analysis shared with Cointelegraph on March 27, Barlow reviewed CoinGecko data and found that just two BNB memecoins were responsible for roughly 13% of PancakeSwap’s daily trading volume.

BNB Chain’s reversal of fortune

BNB Chain launched in 2020 as Binance Smart Chain, positioning itself as a low-cost, fast and EVM-compatible alternative to Ethereum at a time when high gas fees and limited L1 options made Ethereum less accessible.

It quickly attracted developers and users but developed a reputation for scammy projects and faced criticism for centralization. As regulatory pressure on Binance mounted, activity on the chain declined while more decentralized and innovative ecosystems like Ethereum L2s and Solana gained momentum.

PancakeSwap has become the centerpiece of BNB Chain’s resurgence, sustaining high-volume trading across the network. According to DefiLlama, BNB Chain led all blockchains in DEX volume for eight days during the two-week period starting March 15 — the same stretch in which PancakeSwap dominated the EVM DEX landscape.

Binance-linked BNB Chain dominates second-half of March. Source: DefiLlama

“DEX volumes are a clear signal of user engagement and interest in DeFi, and sustained activity on a platform like PancakeSwap suggests that retail interest in BNB Chain and its memecoin ecosystem is growing,” Barlow said. A byproduct of DEX volume growth is higher yields for liquidity providers.

In addition to DEX volume, BNB Chain recently led the industry in active addresses among EVM networks — and was second only to Solana across all blockchain ecosystems over the past week.

Binance-backed growth, memecoin liquidity and Broccoli

The resurgence of BNB Chain is closely linked to the boom in memecoins. In February, BNB Chain published its 2025 tech roadmap, reaffirming its commitment to supporting the memecoin ecosystem.

“We are happy to see many of the meme tool providers integrate with BNB Chain. And we will continue to work closely with them in 2025 and beyond,” the announcement said.

Just days later, Binance founder Changpeng Zhao posted on X that his dog’s name is Broccoli, a remark that sparked a wave of Broccoli-themed memecoins on BNB Chain. Zhao added that he would not be issuing a memecoin himself but would “likely interact” with a few tokens on the network.

Source: Changpeng Zhao

Memecoin activity has been surging ever since. One example came in late March; in a now-viral trade, one trader reportedly invested $232 into the Mubarak memecoin to profit $1.1 million, according to Lookonchain.

Savvy trader flips $232 of Mubarak memecoin into $1.1 million. Source: Lookonchain

BNB Chain has also outpaced competitors in several core DeFi metrics. It recently surpassed both Solana and Ethereum L2s in daily fees generated.

To further support the momentum, BNB Chain launched the “BNB Chain Meme Liquidity Support Program” on Feb. 18. The initiative provides $200,000 in permanent liquidity to top-performing memecoins.

“Memecoins are absolutely driving the recent activity. You can see it in the sharp increase in the number of newly created tokens and the uptick in smaller trade sizes, which often accompany memecoin speculation. When TVL remains stable but volume spikes, it’s usually retail trading that’s driving the difference — and right now, that energy is heavily concentrated in BNB Chain’s meme sector,” Rachel Lin, CEO of DEX SynFutures, told Cointelegraph.

Solana vs. BNB: Who owns the memecoin crown?

Data suggests that Solana’s memecoin sector is cooling off. According to Solscan, token launches dropped to around 26,300 on March 22, the lowest since November.

Daily transaction volume also hit a low of under 43 million on March 1, according to Nansen, the lowest figure since November.

Solana’s transaction volume is also on a downward trend along with cooling memecoin activity. Source: Nansen

Even in a downtrend, Solana’s activity levels remain significantly higher than BNB Chain’s. Nansen data shows that Solana’s lowest transaction day still outpaced BNB Chain’s peak of 7.8 million transactions. But momentum appears to be shifting.

BNB Chain’s transactions have risen but are still far behind Solana. Source: Nansen

Pump.fun, Solana’s memecoin launchpad, is also seeing signs of fatigue. Fewer than 1% of new tokens meet the platform’s requirements to become tradable. The drop in bonding levels points to a cooling period for Solana’s memecoin market.

But this doesn’t necessarily signal a shift in long-term dominance, said Alan Orwick, co-founder of Quai Network. “This pattern reflects the cyclical nature of speculative interest across blockchain ecosystems, which ultimately brings renewed energy to DeFi.”

“This rotation appears to be influenced by regional preferences, with increased Asian market participation driving activity on Binance-related platforms,” Orwick said.

Lin of SynFutures added that the key difference between Solana and BNB Chain’s momentum is the audience: “Solana has become more native to crypto traders, whereas BNB Chain draws a more global, retail-first crowd. We’re not necessarily seeing one chain dominate long-term, but rather a rotation of capital and attention depending on user behavior and transaction economics.”

The rise of BNB Chain amid Solana’s slowdown highlights the fast-moving, cyclical nature of crypto markets, especially in the memecoin space. While Solana still leads in raw activity, BNB Chain is proving it can capture retail attention and drive meaningful volume when the moment is right. With strong backing from Binance, dedicated liquidity programs and viral meme momentum, BNB Chain has reclaimed relevance in DeFi.

Magazine: Memecoins are ded — But Solana ‘100x better’ despite revenue plunge

Coin Market

Warren Buffett to step down as Berkshire Hathaway CEO by year's end

Published

3 hours ago

May 3, 2025

Warren Buffett, the CEO of publicly traded investment company Berkshire Hathaway, announced at the company’s annual shareholder meeting that he will step down by the end of 2025, and his chosen successor will take over as CEO, pending approval from Berkshire’s board of directors.

According to CNBC, Buffett reiterated that Greg Abel, the company’s vice chairman of non-insurance operations, who was previously named by Buffett as his successor, will take over. The Berkshire founder announced:

“The time has arrived when Greg should become the Chief executive officer of the company at year-end, and I want to spring that on the directors effectively and give that as my recommendation.”

Buffett added that he would stay at the company in an advisory role “but the final word would be what Greg decided,” the CEO said. Buffett’s decision to step down as CEO comes at a time when Berkshire Hathaway is sitting on cash reserves of roughly $348 billion.

Buffett speaking at the Berkshire Hathaway annual shareholder conference. Source: CNBC

The legendary stock investor has repeatedly called the growing US national debt unsustainable and issued warnings on the increasingly unstable macroeconomic environment that has taken a toll on the stock market.

Berkshire Hathaway outperforms S&P but is outclassed by Bitcoin

Despite being renowned for consistently returning roughly double the average performance of the S&P 500 to investors throughout his career, Buffet has failed to outperform Bitcoin (BTC) and gold.

Although Berkshire Hathaway’s class A common stock carries a price tag of over $809,000, and a market cap of over $1 trillion at the time of this writing, shares of the company have massively underperformed against Bitcoin in percentage terms since 2015.

Bitcoin has returned gains of over 781% to investors since 2020, while Berkshire Hathaway only returned approximately 150% over the same period.

Bitcoin’s price performance appears in magenta and has outperformed Berkshire Hathaway’s stock in percentage gains. Source: TradingView

Buffett has long been critical of BTC, arguing that the decentralized, supply-capped, digital currency has no value and likened it to a scam on several occasions.

The Berkshire founder and his business partner Charlie Munger have repeatedly said that Bitcoin does not even qualify as an investment and should be avoided by traders.

Magazine: Bitcoin in Senegal: Why is this African country using BTC?

Coin Market

Bitcoin miners should pay costs in depreciating currency — Ledn exec

Published

4 hours ago

May 3, 2025

Bitcoin (BTC) mining firms should hold their mined Bitcoin and use it as collateral for fiat-denominated loans to pay operating expenses instead of selling BTC and losing the upside of an asset that miners expect to surge in price, according to John Glover, chief investment officer at Bitcoin lending firm Ledn.

In an interview with Cointelegraph, Glover said that holding onto the BTC carries several benefits including, price appreciation, tax deferment, and the potential to make extra revenue by lending out BTC held in corporate treasuries. The executive added:

“If you are mining, you are generating all this Bitcoin. You understand the thesis behind Bitcoin and why it is likely going to continue to appreciate in the future. You do not want to sell any of your Bitcoin.”

This debt-based approach is similar to companies like Strategy, which issue corporate debt and equity to finance Bitcoin acquisition and profit from the diverging fundamentals of BTC and the fiat currencies the corporate capital raises are denominated in.

BTC mining hashprice, a metric used to gauge miner profitability, has collapsed as ever-increasing computing resources are deployed to secure the network. Source: Hashrate Index

Bitcoin-backed loans could be a valuable lifeline for miners struggling in the highly competitive industry, which is facing increased pressure due to the ongoing trade tensions brought on by the Trump administration’s protectionist trade policies and macroeconomic uncertainty.

Trade war places even more pressure on beleaguered mining industry

The Bitcoin mining industry is characterized by high competition and capital costs that increase over time as more powerful computing resources are used to mine blocks and secure the network.

US President Trump’s sweeping trade tariffs have cast a cloud over the already competitive sector, raising fears that import duties will raise the cost of mining equipment, like application-specific integrated circuits (ASICs), to unsustainable levels.

Mining firms collectively sold over 40% of their mined supply produced in March 2025 amid the heightened macroeconomic uncertainty and fears that the ongoing trade tensions will cause price increases across the board.

According to TheMinerMag, this 40% sell-off marked the reversal of a trend that began post-halving, in April 2024, and represented the highest monthly BTC liquidation among miners since October 2024.

Magazine: Korea to lift corporate crypto ban, beware crypto mining HDs: Asia Express

Coin Market

Ethereum nears key Bitcoin price level that last time sparked 450% gains

Published

6 hours ago

May 3, 2025

Ethereum’s Ether (ETH) token is approaching a critical price zone against Bitcoin (BTC), which historically marked the beginning of a massive rebound.

ETH price fractal from 2019 hints at bottom

The ETH/BTC pair, currently trading near 0.019 BTC, is edging closer to 0.016 BTC — the exact level it reached in September 2019 before rallying nearly 450% over the following year.

ETH/BTC weekly performance chart. Source: TradingView

The current ETH/BTC setup resembles 2019, with both periods marked by oversold relative strength index (RSI), long stretches below key moving averages, and multiyear declines.

In 2019, ETH/BTC fell over 90% in the prior two years, driven by the ICO collapse.

As of 2025, the pair is down over 80% from its 2021 peak, weighed by skepticism over Ethereum’s switch to proof-of-stake (PoS), rising competition, and Bitcoin’s growing dominance as an institutional asset.

In response to the growing concerns, Ethereum co-founder Vitalik Buterin has proposed new architecture and protocol-wide standards to make Ethereum simpler, faster, and as maintainable as Bitcoin within five years.

One analyst called Buterin’s proposal “the most bullish thing for ETH.”

The bullish hopes come as ETH/BTC attempts to break free from its multi-year “bearish parabola.” This resistance curve has been instrumental in limiting the pair’s upside attempts since December 2021 but showed signs of exhaustion as of May 3.

Edit the caption here or remove the text

“We might see an end of this bearish parabola,” wrote chartist Jimie.

He noted that if the curved resistance holds, ETH/BTC could drop toward 0.016 BTC — the same level where it bottomed in September 2019 before rallying by roughly 450%.

Flush ETH and buy Bitcoin, says Adam Back

Skeptics like Bitcoin’s proof-of-work pioneer, Adam Back, argue that Buterin is overlooking deeper design flaws while proposing to simplify Ethereum in the coming years.

Back criticizes Ethereum’s account-based system, saying it adds unnecessary complexity compared to Bitcoin’s simpler UTXO (unspent transaction output) model. He argues this growing complexity increases technical risks and makes Ethereum harder to scale and secure.

Source: X/Adam Back

He also warns that Ethereum’s shift to PoS has concentrated power among insiders by redirecting miner rewards to large tokenholders.

“At this point, just flush ETH before it hits zero and buy Bitcoin,” he wrote, suggesting no upgrade can fix what he views as Ethereum’s flawed foundation.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.