An unknown trader made $8.9 million in profit in less than one hour by trading the Shroom (SHROOM) memecoin during the same block where developers added liquidity, on-chain data shows.

Related: Unnamed presale address amasses $33M SOL in an hour

Trader makes $8.9M profit on Shroom memecoin

The wallet spent 6,000 Solana (SOL) tokens worth $1.04 million on Shroom coins, in the same block where the token contract deployer added new liquidity. After an hour, the trader sold for 57,112 SOL worth $9.93 million, according to a March 20 X post by on-chain analytics firm Lookonchain.

The Shroom token was launched on Raydium on March 20 as a mushroom-themed memecoin with no underlying utility or intrinsic value. The token’s price has fallen over 70% since launch, and it currently sits at a market cap of $11.88 million, according to Geckoterminal.

SHROOM/SOL, all-time chart. Source: Geckoterminal

The peculiar timing of the profitable trade caused "insider trading" allegations among the crypto community. In response to Lookonchain’s post, X user Blockchain Maxi wrote:

“It's called Insider Trading. You can never win with new memes, don't even try.”

“That's dev himself,” Wrote pseudonymous trader Bull.Bnb, in response to the same post.

The Solana-based memecoin started generating interest after Trippy Labs announced a surprise Shroom airdrop in a March 20 X post that amassed over 268,000 views in 16 hours.

Memecoin frenzy continues

Memecoins continue attracting retail interest. Recently launched meme token Book Of Meme (BOME) is up over 1,100% on the weekly chart, as the 130th largest token with a market capitalization of $617 million, according to CoinMarketCap data.

BOME/USDT, 7-day chart. Source: CoinMarketCap

The Book of Meme token is part of a series of new memecoins that raised money for unreleased coins by way of a controversial presale model. Presales for these Solana-based memecoins raised over $100 million worth of SOL in the three days leading up to March 18.

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.

This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
Binance is launching the next round of "Binance Learn & Earn", where users can gain knowledge on blockchain and earn free crypto by completing courses and quizzes.
Activity Period: 2024-03-21 09:00 (UTC) to 2024-04-04 09:00 (UTC)
All KYC-verified users will be eligible to participate in this round of "Binance Learn & Earn". Eligible users will stand a chance to receive a predetermined amount of CYBER or tokens from other projects, depending on the course or quiz they complete.
Qualified users can begin to read the articles and watch the video(s) anytime from now and complete quizzes while token supplies last. Do note that each course can only be completed once, and every user qualifies for a maximum of one reward per completed course.
Please note:
Users will not be able to participate in this activity once all rewards are distributed.CYBER rewards will be automatically locked in Simple Earn Locked Products for 150 days, where users can enjoy 10% APR.
Offered Products (Locked Products):
Digital AssetPrincipal RewardDurationStandard APRCYBER0.1 CYBER150 Days10%
Stay tuned for new projects and opportunities to earn more crypto.
Start Earning by Learning Today!
For More Information:
How to Get Started with Binance Learn & EarnBinance Launches EduFi - Learn and Earn Program - to Educate Users on the Blockchain Industry
Terms and Conditions:
All eligible users are required to complete KYC to receive rewards from this activity.Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Rewards are limited and are available on a first-come, first-served basis. Users can only claim the reward for each course after completing the respective quiz.There will be caps imposed on the amount of rewards available to eligible users per country/region. Eligible users may complete multiple quizzes to claim multiple rewards. Users will not be able to participate in this activity once all rewards are distributed. The actual value of the reward received is subject to change due to market fluctuation.For the CYBER course:Binance Simple Earn will redeem the digital assets/digital currencies locked in Simple Earn Locked Products subscriptions to Simple Earn Flexible Products at the end of the agreed subscription period.Users can view their assets on Simple Earn Locked Products and Flexible Products by going to Wallets > Earn.For this activity, users may not redeem their digital assets/digital currencies in advance.Binance reserves the right to terminate the activity at any time without prior notice.Binance accounts can only be used by the account registrants. Binance reserves the right to suspend, freeze or cancel the use of Binance accounts by persons other than account registrants.Binance reserves the right of final interpretation of the activity. Binance reserves the right to change or modify these terms at its discretion at any time.Additional promotion terms and conditions can be accessed here.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
Thank you for your support!
Binance Team
2024-03-21

BNB (BNB) price is heating up again after a four-day correction that saw it lose 16% of its value. BNB climbed from a low of $500 on March 20 to an intra-day high of $539. At the time of writing, the price was hovering around $550, up 5% over the last 24 hours, according to data from CoinMarketCap.

BNB/USD daily chart. Source: TradingView

BNB’s performance has been bullish over the last month. The layer 1 token has soared 50% over the last 30 days and 61% in March alone to reach $645 on March 16, its highest value since November 2021. This rally brought BNB within 7% reach of its all-time high of $690 reached on May 10, 2021.

This has left many traders wondering whether the BNB price will return to its all-time highs. Let’s look at the factors that could potentially bolster BNB higher.

Binance exchange leads in trading volumes

Binance crypto exchange appears to be holding on to its market share even after regulatory challenges in the United States and abroad marred its operations. After a wild legal ride in 2022 that ended with the former Binance CEO Changpeng Zhao stepping down and a $4.3 billion fine for the exchange, Binance has recovered its trading volume market share.

Data from CCData shows that Binance’s market share continued to rise since October 2023, climbing for the fifth consecutive month to more than 40%.

Binance spot trading share. Source: CCData

This is corroborated by data from CoinGecko, which shows that the total 24-hour trading volume on all crypto exchanges at $178 billion, with Binance accounting for $41.7 billion of this on March 20. ByBit comes in second place, contributing only $7.5 billion, and OKX is in third place with $6.5 billion.

BNB Smart Chain is seeing increased activity

Just as the exchange has overcome the negative branding impact of its regulatory challenges, the exchange’s BNB Smart Chain (BSC) is also “making a comeback of its own,” according to K33 Research.

David Zimmerman, a DeFi analyst at K33 Research, says BNB’s “price action has led to more activity on-chain, and there is life once more on BSC.”

Independent analyst and X user Kyledoops spotted BNB price trading at $586 before the correction and said that the increasing total value locked on the blockchain is fueled by “BNB’s surge into price discovery mode.”

“$BNB TVL skyrockets to $6 billion, hitting levels not seen since June 2022.”

Total value locked on BNB Chain. Source: Kyledoops

Data from DefiLlama shows that BNB Chain’s TVL increased by 54% in 2024, suggesting that users and developers are interacting more with the network.

According to data from DappRadar, the BNB Chain remains a powerhouse among layer 1 blockchains, handling 7.07 million transactions in the last 30 days against Ethereum’s 1.2 million transactions.

Related: Web3 Gamer: Gods Unchained app drops crypto, Kings of Fighters Arena review

Unique Active Wallets (UAW) is a metric DappRadar uses to express how many individual crypto wallet addresses interact with a blockchain’s smart contracts.

Top layer 1 blockchains. Source: DappRadar

The figure above shows that the BNB Chain also leads in total unique address wallets where more than 2 million UAWs have interacted with the layer protocol over the last 30 days. This is way higher than 585,430 UAWs on Ethereum and 142,890 on Avalanche.

BNB price is 21% away from its all-time high

BNB price is currently 21% below its all-time high of $690. The K33 Research report claims that even though Solana (SOL) has stolen the limelight in the recent past, “BNB has had an equally impressive move this year and is significantly closer to record highs.”

Zimmerman notes,

“BSC was a major area for altcoin madness in the previous bull run, and it looks as though it is warming up for another run here.”

Source: K33 Research

In a March 14 post on X, independent analyst Batman spotted BNB very close to all-time highs, saying that the “$BNB price has been on a monster run lately.”

Batman added,

“Price discovery is not very far away from BNB. This could lead to a huge rally for altcoins in the BNB ecosystem.”

The price was trading 20% below the all-time high at the time of publication. The moving average convergence divergence (MACD) indicator was still in the positive region above the zero line, suggesting that the market conditions still favored the upside.

BNB/USD weekly chart. Source: TradingView

The key levels to watch above this are $550 and $600. The bulls have to flip this supply zone back into support before pushing the price toward all-time highs at $690 and ushering BNB into price discovery.

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.

This is a general announcement. Products and services referred to here may not be available in your region.
Fellow Binancians,
Binance Earn is pleased to launch a promotion for SOL Locked Products, BNB Locked Products and ETH Staking. Complete subscriptions to SOL Locked Products, BNB Locked Products, and/or ETH Staking to earn multiple rewards:
A share of 140,000 PIXEL in airdrop rewardsEarn up to 8.1% in APR rewards with SOL Locked Products positionsEarn up to 3.5% APR in BNB rewards and ongoing Launchpool rewards with BNB Locked Products positions (where applicable)Earn approximate 3.6% in dynamic APR rewards with ETH Staking
Promotion Period: 2024-03-19 00:00 (UTC) to 2024-03-31 23:59 (UTC)
Promotion 1: Subscribe to SOL Locked Products, BNB Locked Products or ETH Staking to Share 140,000 PIXEL in Airdrop Rewards
During the Promotion Period, users who fulfill the following requirements will be eligible to participate:
Opt-in to the promotionSubscribe to SOL Locked Products with at least 1 SOL, BNB Locked Products with at least 0.5 BNB, or stake ETH with at least 0.05 ETH
All eligible users will then be ranked by their net eligible subscription amount during the Promotion Period. The top 500 users will qualify to share the following rewards, as per the table below.
Please Note:
Net eligible subscription amount = (Total amount of assets subscribed to SOL Locked Products, BNB Locked Products and ETH Staking) - (Total amount of assets redeemed from SOL Locked Products, BNB Locked Products and ETH Staking) - (Total amount of WBETH sold)Users who redeem existing Locked Products positions created before the promotion only to recreate the same Locked Products positions during the Promotion Period, will have a net eligible subscription amount equivalent to zero.
Reward Structure:
Rankings by Net Eligible Subscription Amount During the Promotion Period (USDT Equivalent)Reward per Eligible User1st - 10th Places1,000 PIXEL11th - 20th Places900 PIXEL21st - 30th Places800 PIXEL31st - 40th Places700 PIXEL41st - 50th Places500 PIXEL51st - 100th Places300 PIXEL101st - 300th Places250 PIXEL301st - 500th Places180 PIXEL
Promotion 2: Subscribe to BNB Locked Products to Get an iPhone 15 (256GB)!
In addition, Binance will use the BNB Beacon Chain hash value at 2024-04-05 23:59 (UTC) to select ten users who create and maintain at least one active BNB Locked Products position from 2024-03-19 00:00 (UTC) to 2024-03-31 23:59 (UTC), to each receive one iPhone 15. Please note that only users who opt-in to the promotion will qualify for any reward from Promotion 2, and the iPhone 15 reward will be distributed in the form of FDUSD token voucher.
Join the Promotion Now!
About Simple Earn, ETH Staking, BNB Locked Products & Launchpool Rewards:
Simple Earn allows users to earn daily rewards by depositing their digital assets for flexible or locked terms. Users may subscribe to or redeem assets from Simple Earn almost at any time, thus retaining great flexibility and liquidity over their assets while earning daily rewards.ETH Staking allows users to stake their Ethereum (ETH) tokens to support the Ethereum network’s operations. By staking ETH on Binance, users contribute to the network’s security and efficiency, and will receive WBETH tokens in return (i.e., a tokenized representation of staked ETH and rewards). Users may subscribe to BNB Locked Products using their BNB assets at any time to earn the following rewards:Launchpool Rewards (where applicable)BNB Rewards (Refer to the latest APR)
Only users in qualified countries/regions will automatically receive Launchpool rewards for holding BNB Locked Products positions. Users are not required to manually redeem their BNB assets from BNB Locked Products to participate in Launchpools. Rewards calculation for Launchpools is the same, regardless of whether users subscribe to BNB Locked Products or stake their BNB directly in Launchpools. When there are multiple Launchpool projects running concurrently, users’ BNB assets in Locked Products will automatically be equally allocated to each Launchpool project the user is eligible for. Read more: Binance Extends Launchpool Rewards to Users with BNB Locked Products Positions.
Terms & Conditions:
Only users who complete identity verification and confirm their participation during the Promotion Period can qualify for rewards in this Promotion. Binance reserves the right to adjust APRs at any time without prior notice. Please refer to Binance Simple Earn Terms of Use prior to using any products on the Binance Simple Earn platform, as well as the Binance ETH Staking Terms and Conditions prior to using ETH Staking. Users may also view the FAQs on Simple Earn Locked Products and ETH Staking for more information.Each sub-account will not be viewed as an independent account when participating in this Promotion. Sub-accounts’ subscription amount will be combined with the master account’s standard subscription amount.Rewards DistributionPIXEL token rewards will be airdropped to eligible users by 2024-05-19 23:59 (UTC), unless otherwise advised by Binance. Users may find their rewards via Profile > Assets > Spot Wallet. Binance will use $899 as the retail price of the iPhone 15 (256GB), as listed on the Apple US website on 2024-03-12, and reward eligible users with an equivalent amount in FDUSD token vouchers. The reward does not include taxes, shipping fees, or any other additional fees.Token voucher rewards will be distributed within five weeks after the Promotion ends. Users can login and redeem their token voucher rewards via Profile > Rewards Hub.All the distributed token vouchers will expire within 14 days after distribution. Eligible users should claim their voucher rewards before the expiration date. Learn how to redeem a token voucher.Binance reserves the right to disqualify any participants that, in its reasonable opinion, are acting fraudulently or not in accordance with any applicable terms and conditions.Binance reserves the right to cancel or amend the Promotion or Promotion Rules at its sole discretion.Binance Simple Earn will redeem the digital assets/digital currencies subscribed to Simple Earn Locked Products to Flexible Products at the end of the agreed subscription period. The value of digital assets/digital currencies fluctuates and is subject to change.Users can view their assets on Simple Earn Locked Products and Flexible Products by going to Wallets > Earn.Users may enable the “Auto-Subscribe” function before completing subscriptions to Simple Earn Locked Products, which will automatically renew users’ existing Locked Products position into a new position of the same duration upon expiry.Unlock period for Locked Products: One day.About early redemption for Simple Earn Locked Products: Users may redeem their assets in advance. After choosing early redemption, digital assets will be returned to the spot account, and users will not be entitled to any rewards. Any distributed rewards will be deducted from the refunded principal. It may take 48-72 hours to receive the digital assets.Additional promotion terms and conditions can be accessed here.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
Thank you for your support!
Binance Team
2024-03-19

This is a general announcement. Products and services referred to here may not be available in your region.
Binance is pleased to launch a new Word of the Day (WOTD) game! All eligible users will equally share a pool of 500,000 Binance Points, which can be used to redeem up to 10 USDT token voucher and up to 50 USDT trading fee rebate voucher at the Rewards Hub.
To celebrate the Bitcoin Halving in 2024, the theme of this week is Bitcoin Payments. Read selected articles to learn more about this topic, participate in this week’s WOTD, and grab a share of the rewards.
Activity Period: 2024-03-18 00:00 (UTC) to 2024-03-24 23:59 (UTC)
WOTD is an educational word-guessing game, which allows users to increase their crypto vocabulary and stay on top of the latest market developments.
How Does It Work
All eligible users may play up to two WOTD games per day to test their knowledge on the given topic.Users who get a total of five correct answers during the Activity Period are eligible for an equal share of 500,000 Binance Points.
How to Enable the Second WOTD Game
After the first game, click on the "Get A New WOTD" button.Share one of the selected articles of the day on social media.Unlock the second WOTD game once the selected article is successfully shared on social media and the shared link is clicked by a third party.
New User Welcome Bonus
In addition, all new users who register for a Binance account using the “WOTD2024” referral code or via this referral link during the Activity Period, will each receive 10% off their spot trading fees. Users may also qualify for additional welcome rewards by completing tasks available at the Rewards Hub within 14 days after registration.
Play WOTD Now to Earn Rewards!
Related Readings for This Week’s WOTD
6 Big Brands That Accept BTC and WhyBenefits of Accepting Bitcoin and Other Crypto for Your Business
About Binance Points
Binance Points are reward points offered by Binance's loyalty program. Users can accumulate Points by completing tasks, joining activities or completing point-based activities in the Rewards Hub. The Points can be used to claim rewards in the Rewards Shop, such as token vouchers and trading fee rebate vouchers.
Terms & Conditions
These terms and conditions (“Activity Terms”) govern users’ participation in this WOTD activity (“Activity”). By participating in this Activity, users agree to these Activity Terms, and the following additional terms: (a) Binance Terms and Conditions for Prize Promotions; (b) Binance Terms of Use; and (c) Binance Privacy Policy; all of which are incorporated by reference into these terms and conditions. In the case of any inconsistency or conflict between these Activity Terms, and any other incorporated terms, the provisions of these Activity Terms shall prevail, followed by the following in this order of precedence, and to the extent of such conflict: (a) Binance Terms and Conditions for Prize Promotions; (b) Binance Terms of Use; and (c) Binance Privacy Policy.The WOTD game may not be available in certain countries/regions. Only users from eligible countries/regions who complete account verification shall be able to participate and receive rewards.Users may play up to two WOTD games daily. To unlock the second WOTD game of the day, click on the "Get A New WOTD" button after the first game and share any selected article of the day on social media. The sharing will be deemed successful when the shared link is clicked by a third party.
All Binance Points will be distributed within two weeks after the Activity ends. Users will be able to log in and redeem a variety of rewards using Binance Points via Profile > Rewards Hub. Please note that each Binance Point will expire on the last day of the same month of distribution in the following year, if it is not used to redeem rewards at the Rewards Hub. For more information on Binance Points, please refer to the FAQ. For the new user welcome bonus: The 10% spot trading fee discount will remain valid as long as the Binance referral program is in place. Users may qualify for welcome rewards by completing tasks available at the Rewards Hub within 14 days after registration.Binance reserves the right to disqualify a user’s reward eligibility if the account is involved in any dishonest behavior (e.g., wash trading, illegal bulk account registrations, self dealing, or market manipulation).Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these Activity Terms without prior notice, including but not limited to canceling, extending, terminating or suspending this Activity, its eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all users shall be bound by these amendments.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.