Original | Odaily Planet Daily (@OdailyChina)
Author | Nan Zhi (@Assassin_Malvo)
Tonight, BNB started a violent rally, rising from a low of 622 USDT to a high of 779 USDT, a 24-hour increase of up to 25%. Besides BNB, BNB ecosystem tokens also rose across the board, with CAKE up 29% in 24 hours, LISTA up 13%, and BNX up 12%.
Pancake also launched a replica of the Pump platform this afternoon, and the leading token CAKEDOG on this platform quickly rose to a maximum market value of 7 million USD, currently reported at 3.3 million USD.
CZ has recently been vocal, and combined with yesterday's hint from CZ regarding the altcoin season, the BNB Chain ecosystem may once again witness the prosperity of the last bull market.
What is BNB Chain doing?
The rise of BNB Chain can be traced back to early 2021, when Ethereum completed the construction of DeFi gameplay and infrastructure, but due to Ethereum's inherent capacity issues, it gradually became a 'noble chain', making it difficult for ordinary users to bear high gas fees, leading to a growing demand for alternatives to Ethereum.
BNB Chain has timely captured the spillover traffic from Ethereum, with relatively low gas fees, support for quick project migration, and EVM compatibility driving its rapid development, successfully seizing the core growth point of chain games that year.
In the past three years, BNB Chain has continuously improved its underlying infrastructure and supported the development of ecosystem projects. Recently, BNB Chain has once again focused on competing in the public chain market, aiming to rival other Layer 1 chains.
Firstly, in terms of infrastructure, the BNB Chain ecosystem DEX Pancake launched the MEV protection feature MEV Guard last week, which can be activated using the dedicated RPC launched by Pancake in collaboration with 48 Club.
In terms of operations, since another dimension took over BNB Chain, the frequency of Space openings has significantly increased, beginning to engage with users and ecosystem developers.
In terms of research and development, we can also see fork-type products such as BinaryX's transition to develop four.meme and Pancake's replica Pump platform SpringBoard, as well as innovative platforms like Aspecta supported by Binance Labs, showcasing the enthusiasm for innovation and keeping up with popular narratives in the BNB Chain ecosystem.
The wealth effect is necessary to attract retention.
Previously, when four.meme was launched, the leading token binancedog based on this platform skyrocketed to a market value of 15 million USD overnight, but subsequently fell to zero.
Looking back at various chains and projects that attracted users through pump replicas, most 'died' in a day, with only SunPump maintaining for a longer period. Why is this? Because on SunPump, there have been continuous leading tokens like Sundog and Sunwukong relaying, resulting in a high user retention rate, which is also one of the standout features of Pump.fun.
In this meme-centric era, it is difficult to turn the situation around without a wealth effect. The current BNB Chain is embracing positive new trends, but whether it can return to its peak remains to be seen.
