How to explain this target $THE ? Let me state a basic underlying logic: high odds.

Thena: Timing and the turning point of BNB chain ecology?

Today, we just happened to talk about the chain business, and by the way, let’s briefly talk about the DEX Thena that was launched on Binance in the past two days.

On this DEX, I saw a word: timing

Maybe the market has a feeling that BNB Chain is really going to do something

After the trial launch of the Meme contract on the BNB Chain chain, the spot Thena $THE was launched

I have also talked about the logic of betting on DEX before👇🏻

On the basis of To#Binancelisting, it is to bet on the emerging L1 infrastructure

This year, there are indeed two very typical cases🔻

(1) Solana’s head DEX $JUP was listed at the beginning of the year, and the listing node was in the recovery period of L1

(2) Sui’s head DEX $CETUS was listed at the beginning of last month, and the listing node was in the emerging L1 officially emerging

And $THE In fact, it belongs to the first L1 recovery period, but the difference is that it is not a top DEX

Regarding the sudden launch of $THE , from my perspective, I am a little confused

But because of the market value, it and $CETUS Both have brought good performance to the return expectations of the secondary market

It has to be said that Binance, with a market value of tens of millions, has a very sufficient Alpha for listing

Another interesting point is that Solana and Sui are being watched by the market, and the Meme track factors account for at least 80%🔺

And CZ's view a few days ago that "Meme has become a bit strange, and more on-chain applications should be built" was widely discussed

I don't know whether some on-chain applications will be launched around this point in the future, but Meme is one of the main sources driving the large-scale use of DEX😂

🪡There is no need to extend too much on the product and design of Thena, mainly talking about some logic

Because in terms of products, objectively speaking, it is a bit conventional. I currently have high expectations for on-chain applications that do account abstraction/chain abstraction

Although Thena also has account abstraction, the overall UI experience is still relatively traditional

Current data🔻
SOL market value is about 110 billion, $JUP market value is about 1.5 billion
SUI market value is about 10 billion, $CETUS has a market value of about 200 million
$BNB has a market value of about 94 billion, and THE has a market value of nearly 300 million

Although the market value of BNB is a bit complicated, and the top DEX on the BNB chain is not THE, but at this point in the recovery period, it is easy for the market to take over the subsequent on-chain value.