BNB Smart Chain Sees User Return Amid Ethereum and Solana Competition
BNB Smart Chain continues to attract users after being overshadowed by Ethereum and Solana for years. Offering relatively low fees, it is becoming a hub for a new wave of meme tokens.
The chain is pulling smart money away from Base, targeting former Solana meme traders who have faced issues like rug pulls and problematic token launches.
Nansen research highlights a migration of smart money whales from Base to the BNB Smart Chain, alongside a slowdown in Solana’s activity, apparent through rising DEX traffic.
> Interesting shift: Smart Money activity has been migrating from Base to BNB over the past few days. pic.twitter.com/Gy0DtnIq4a
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> — Laveen | Nansen 🧭 🐧 (@itslaveen) February 19, 2025
This migration from Base is also influenced by liquidity movements, with wallets deserting the trend of AI agents. Smart money trackers observed considerable outflows from VIRTUAL and AIXBT, as liquidity seeks more active trends.
BNB Chain and the Binance ecosystem are Sprinting to align with the AI agent trend. Recently, the project BNBAI emerged as a leading platform offering staking opportunities.
BNB Smart Chain Expands Meme Activity
The shift to BNB Smart Chain coincided with Changpeng ‘CZ’ Zhao’s enhanced social media involvement impacting new token launches. DEX activity surged as users flocked to PancakeSwap, with BNB DEX traffic surpassing $2.34B, gradually closing the gap with Solana.
Solana DEX traffic had peaked in October 2024, subsequently returning to baseline trends. While BNB currently handles only a small share of meme tokens (about $2.1M compared to Solana’s $300M), the slowdown in Solana’s activity since January 20 opens opportunities for BNB in the meme niche.
The BNB Chain seeks to reclaim its influence from the 2021 bull market.
Opportunities for Meme Promotion in the Binance Ecosystem
Though BNB’s meme tokens are rarer, they last longer. The new platform, Four.meme, started with a significant number of daily launches but is still trailing behind others like Pump.fun. Recently, fewer than a dozen memes emerged from Four.meme.
Binance also vets and curates memes with various listing tiers. Four.meme facilitates not just launches but also promotes selected projects, alongside Binance Alpha providing daily project recommendations.
The recent boost in Binance’s meme activity is linked to the new BROCCOLI token, which, while unofficial, capitalized on CZ Zhao’s dog fame. This asset attracted substantial smart money inflows and was a top-traded item on DEX according to recent Alphanomics data.
Smart money not only follows new tokens but also assets gaining social media traction. However, positive promotional effects from CZ Zhao for BNB Chain aren’t assured.
In light of BNB Chain’s rising popularity, the native token BNB has remained resilient, trading at $656.61, positioning itself ahead of SOL among the top five cryptocurrencies.
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