On March 18, 2025, the 24-hour DEX trading volume of BNB Chain officially surpassed Solana, marking a significant turning point in the race among layer-1 blockchains. Changpeng Zhao (CZ) – former CEO of Binance – shared this information on X, along with the statement 'this is not a competitive race,' emphasizing that BNB Chain is still focused on building and developing. But behind the impressive numbers, what is really happening?
Memecoin: Motivation from CZ and BNB Chain Strategy
The surge in DEX volume on #BNBChain is not coincidental. Recently, CZ has been actively 'shilling' homegrown memecoins like TST – an experimental token on BNB Chain, which increased nearly 100 times after one of his posts (according to Coin68). Last month, BNB Chain announced a priority for processing memecoin transactions, optimizing the network for fast transactions and low fees – factors that attract speculative capital. PancakeSwap, the leading DEX of BNB Chain, leads in trading volume, far surpassing Raydium (Solana) and Uniswap (Ethereum), showing that memecoins are the main 'wind' driving BNB Chain to the top.
Solana Decline: An Opportunity for BNB Chain
Meanwhile, the memecoin craze on $SOL is gradually cooling down. Pump.fun – the platform that created memecoins and once 'made waves' – has witnessed a sharp decline in trading volume (Coin68), losing its allure with investors. This decline paves the way for capital to seek new havens, and BNB Chain, backed by CZ and the #Binance ecosystem, becomes an attractive option. Unlike Solana (35.8 million active addresses weekly), BNB Chain has only nearly 6 million, but is optimized for memecoin transactions – the hottest field right now.
Not Competition, But a Signal
Although CZ denies this is a race, the surpassing of Solana still shows that BNB Chain is making good use of the opportunity. The memecoin priority strategy, combined with CZ's personal influence, helps this network not only grow in data but also affirm its position in the DeFi market. However, the question arises: Will this growth momentum be sustainable when heavily reliant on memecoins – an asset class that is volatile and easily saturated?
Conclusion: BNB Chain is Soaring High, But to Where?
BNB Chain's 24-hour DEX volume surpassing Solana is evidence of the attraction from memecoins and the right strategy. PancakeSwap leads, CZ is 'adding fuel to the fire,' and Solana's decline has created the 'perfect storm' for BNB Chain. However, to maintain its position, the network needs to demonstrate value beyond the short-term craze. With CZ's message of 'keep building,' BNB Chain may be laying the groundwork for something bigger – but only time will tell. #anhbacong
