After CZ's release from prison, BNB Chain seems to have become the biggest beneficiary.
Written by: Rhythm Little Worker
The wealth effect has arrived at BNB Chain.
On November 25, Binance Futures launched the 1000WHYUSDT and 1000CHEEMSUSDT perpetual contracts. Whether as the Shiba Inu MEME Cheems with a built-in mocking buff on BNB Chain, or as the token for the BSC MEME aggregation platform WHY, both have become the focus of market discussions. Meanwhile, Binance Labs announced an investment in the BNB Chain's re-staking infrastructure Kernel, further consolidating BNB Chain's DeFi ecosystem layout. Two days later, Binance announced that Thena (THE) would be launched on November 27.
This DeFi representative project on BNB Chain has not only attracted a large number of traders, igniting discussions about the BNB Chain DeFi narrative, but also caused the prices of various native tokens and MEMEs on BNB Chain to rise due to its flywheel effect.
In the past few days, the trading volume of BNB Chain has matched that of the Base chain, with the concept tokens of BNB Chain generally rising and liquidity within the ecosystem continuing to climb. The discussion about the "BNB Chain season" has heated up again, with the ecosystem's attractiveness and market attention continuing to increase.
BlockBeats has compiled a list of other projects on BNB Chain worth paying attention to in this article, not as investment advice, with all market cap and price increase data as of the writing time on November 28 at 22:00.
AI MEME
First, let's talk about AI MEME on BNB Chain. Recently, AI has become a hot topic in the crypto world, but the related MEMEs are mainly thriving on Solana and BASE chains. The rise of this concept on BNB Chain is closely related to a tweet from Binance founder CZ. In the tweet, CZ mentioned: "AI tagging (or general AI data) is very suitable for being done on-chain. Utilizing global low-cost labor, unaffected by regional biases, (micro) instant payment in cryptocurrency. @BNBCHAIN Greenfield provides storage capacity. More tools still need to be built. Let's build them."
Although DeFi OG Lao Lu also stated not to overthink it, the market's attention to AI MEME has indeed increased, and the price increase of AI MEME is a direct reflection of this.
$AICELL
Market Cap: $20.28M;
24-Hour Price Increase: 211.47%;
$AICELL is an AI project MEME coin based on BNB Chain and is also a winning project from the BNB Chain hackathon in the first quarter of 2024. As one of the currently hotly discussed AI MEME themed projects in the community, it is considered one of the earlier projects to explore this track on BNB Chain.
$NMT
Market Cap: $37.6M;
24-Hour Price Increase: 4.28%;
$NMT is the native utility token of NetMind.AI. As an AI project on BNB Chain, NetMind.AI operates the NetMind Chain, which uses the Proof of Authority (PoA) consensus mechanism, providing various specifications and models of GPU computing power rental, and has established strategic partnerships with several innovative AI companies.
The NetMind.AI team has a strong AI background, with founder Kai Zou graduating from Tsinghua University and having published multiple papers at top academic conferences, as well as collaborating with researchers from OpenAI. This background enables NetMind.AI to connect with professional AI researchers and institutions. Currently, NetMind.AI has established academic partnerships with several world-renowned universities, including Tsinghua University, the University of Cambridge, the University of Wisconsin-Madison, Shanghai Jiao Tong University, Huazhong University of Science and Technology, and Fudan University.
MEME
Next, let's talk about MEME on BNB Chain. Everyone is already familiar with WHY and Cheems, so we won't elaborate further; their market caps are currently $80M and $137M, respectively.
$COOKIE
Market Cap: $38M;
24-Hour Price Increase: 54%;
$COOKIE is the token of the currently popular AI Agents MEME data platform COOKIE(Dot)FUN. This platform focuses on providing real-time market data related to AI Agents, including market cap, price changes, trading volume, and other core indicator rankings. As a project that combines AI and MEME narratives, $COOKIE provides investors with an important window to observe the dynamics of the AI Agents market.
COOKIE(Dot)FUN's unique positioning gives it a certain advantage in the current AI + Crypto boom. As AI Agents projects continue to explode, the market's demand for data analysis platforms is increasing. $COOKIE, as the token of COOKIE(Dot)FUN, may play a role in several areas:
The platform may incentivize users to participate in data uploading or analysis activities through the $COOKIE token, further improving the content quality and data accuracy of the ecosystem; $COOKIE may serve as a governance tool for the community, allowing token holders to participate in platform development decisions; as the platform's functions increase, $COOKIE may be used in more scenarios, such as data subscriptions, unlocking analysis tools, and payments for customized services.
$BOB
Market Cap: $19M;
24-Hour Price Increase: 72%;
$BOB, short for Building On BNB, is a MEME project based on BNB Chain, characterized by a light-hearted and humorous style but with strong virality. Its narrative revolves around the "BNB Chain mascot," and the community atmosphere is quite good.
"Bob" originally emerged as a meme in the YouTube comment section, depicted as a stick figure. Its largest spread began in 2013 when YouTube required users to link their Google+ accounts to comment, which sparked community dissatisfaction. Many users protested by pasting ASCII art of "Bob" to express their discontent with this change. The protesting Bob was often accompanied by Unicode images of military tanks or AK-47 rifles, symbolizing the community's resistance spirit.
$FOUR
Market Cap: $3M;
24-Hour Price Increase: 0.72%;
$FOUR is the native token of the MEME issuance platform Four.Meme on BNB Chain. As a community-governed project, $FOUR is regarded as an important native IP MEME in the BSC ecosystem due to its association with CZ MEME and humorous abstract style.
Four.Meme primarily provides issuance support for MEME projects on BNB Chain, aiming to promote the development of more quality projects by empowering the BSC MEME ecosystem.
Previously, Four.Meme reached a strategic cooperation with Unamano (WHYPAD) and launched a support fund worth $30,000 specifically for MEME projects launched on the Four.Meme platform using $WHY. Although $FOUR currently has a low market cap, the ecological support and strategic cooperation behind it indicate that $FOUR still has significant development potential.
DeFi Infrastructure
$THE
Market Cap: $780M;
24-Hour Price Increase: 27%;
$THE is the native token of the DEX platform Thena on BNB Chain and is the first project launched on Binance after CZ's release from prison. Thena's development has not only received support from users but has also been retweeted and recognized by Binance founder CZ. As a result, some in the community suspect that this is an internally developed product, but the Thena team is indeed a wild European team. Related reading: "Exclusive Interview with THENA: How the Pioneer of the ve(3,3) Model is Changing the DeFi Landscape of BNBChain?"
As a DEX platform based on the ve(3,3) model, liquidity providers no longer receive allocations directly from trading fees but are compensated for liquidity mining rewards through newly issued tokens. This means that Thena provides a more efficient liquidity solution for other projects, attracting more funds and collaborations.
On the first day of its listing on Binance, $THE's trading volume exceeded $1 billion, surpassing mainstream crypto assets like Dogecoin, Solana, and XRP in trading volume. Currently, the 24-hour trading volume of DEXs on BNB Chain ranks second in the ecosystem, only behind PancakeSwap.
$CAKE
Market Cap: $1.17B;
24-Hour Price Increase: 4%;
$CAKE is the native token of the PancakeSwap platform. As the leading decentralized exchange (DEX) on BNB Chain, PancakeSwap not only covers the core functions of traditional DEXs but has also become an important pillar in the BSC ecosystem through its rich product ecosystem and reward mechanisms. Initially, PancakeSwap's functions were similar to Uniswap, focusing on trading and liquidity provision. However, with the rapid expansion of the platform, it has gradually evolved into a fully functional DEX on BSC, encompassing a more diverse range of products and services.
According to Dune data, PancakeSwap's trading volume has consistently ranked first on BNB Chain, far exceeding other DEXs, including consistently outperforming Uniswap. Its strong market performance and user base have made PancakeSwap one of the most representative DeFi projects on BSC.
$LISTA
Market Cap: $559M;
24-Hour Price Increase: 15%;
$LISTA is the native token of ListaDAO, which focuses on liquid staking (LSD) and over-collateralized lending (CDP), representing the LSDFi protocol within the BNB ecosystem. ListaDAO was formerly known as Helio Protocol and received a $10 million investment from Binance Labs in August 2023, marking the project's successful transition towards liquid staking.
The core mission of ListaDAO is to lower the barriers to participation in DeFi by supporting a diverse range of collateral and liquidity release tools, providing users with more liquidity options and yield opportunities. Related reading: "What is ListaDAO, which received investment from Binance and is airdropping tokens?"
Users can stake assets like BNB and ETH to receive ListaDAO's liquidity tokens slisBNB and over-collateralized stablecoin lisUSD. ListaDAO not only supports traditional collateral but has also launched an innovative collateral zone, introducing innovative assets such as Ether.fi's weETH, StakeStone's STONE, and Renzo's ezETH, with plans to expand into multi-chain ecosystems like Ethereum in the future.
ListaDAO is also one of the important projects invested in by Binance Labs, and its close collaboration with the BNB ecosystem gives it a significant advantage in the liquid staking track. Collaborations with multiple platforms such as PancakeSwap, Thena Finance, and APX will continue to drive liquidity and user growth.
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