Original | Odaily Planet Daily ( @OdailyChina )
Author: Golem ( @web3_golem )
Its deserted. Not only is the market cold from mainstream coins to Meme coins, but the progress of industry innovation is even slower. The markets attention is almost entirely on the words and deeds of big Vs and whales.
On the evening of March 16, CZ bought 1 BNB of TST and Mubarak tokens each on the pretext of doing some testing on the weekend. After that, the price of BNB Chain Meme coin Mubarak continued to rise, with the market value rising from about 30 million US dollars to over 120 million US dollars. This means that even if you bought it after CZ bought it, you still have nearly 4 times the profit.
From the perspective of retail investors, according to DeFiLlama , driven by meme coins such as Mubarak, BNB Chain DEXs trading volume in the past 24 hours reached 1.64 billion US dollars, surpassing Solana to rank first; at the same time, BNB Chains main DEX PancakeSwap also became the DEX with the highest trading volume in the past 24 hours. (CZ later retweeted the tweet.)
Old fans of BNB Chain know that this is not the first time CZ has vigorously built. In the past month or so, CZ has gradually let himself go on social media and has become the new Meme King:
On February 6, it publicly responded to the Meme coin TST for the first time and brought great popularity to the BNB chain;
On February 13, CZ used the name of his pet dog as a “bait” to attract on-chain liquidity to migrate to BNB Chain;
On February 18, BNB Chain officially launched a $4.4 million Meme coin liquidity support campaign to undertake, maintain and expand traffic;
On March 3, CZ retweeted the celebrity coin issued by football star Ronaldinho on the BNB chain, but unfortunately the effect was not ideal;
On March 15, CZ posted a message on Binance Square with a Mubarak-related meme picture, which caused the first FOMO of the meme coin Mubarak;
On the evening of March 16, CZ posted a message saying that he wanted to change his Twitter profile picture, which caused the community to guess the new profile picture...
Regarding how CZ is single-handedly driving the local bull market of BNB Chain Meme, we recommend reading The Middle East Meme wind has blown to BSC, and CZ concept coin Mubarak has soared to over 140 million US dollars .
Is CZ-style “Build” a drastic measure?
However, the community has different views on CZs series of conspiracies to promote the BNB Chain ecosystem. Supporters believe that CZ is throwing away his baggage and using memes to attract more outstanding developers for BNB Chain, and that users can make money; opponents believe that BNB Chain is following Solanas old path and will end up in a mess.
Data level: It does bring short-term activity
First, lets look at the objective data. BNB Chains TVL has not increased or decreased due to the influence of Meme coins, but has been relatively stable overall, fluctuating between 4.7 billion and 5.5 billion US dollars. According to DeFiLlama data, since CZ responded to TST on February 6, BSCs TVL peaked at 5.665 billion US dollars on February 23, and then began to decline slightly. After reaching the bottom of 4.744 billion US dollars on March 12, it began to rise again. (This is also normal. TVL is accumulated more by DeFi, while Meme contributes to the number of transactions.)
Although the meme market of BNB Chain became sluggish as the attention attracted by CZs pet dog gradually faded at the end of February, there is no direct evidence that this has a causal relationship with the decline of BNB Chains TVL. At the same time, BNB Chains official 4.4 million Meme coin liquidity incentive plan has not yet had a significant positive impact on TVL.
Judging from the on-chain activity and DEX transaction volume, the effect of CZ-style Build is limited. Artemis data shows that the number of active addresses on BSCs chain increased suddenly only around the CZ pet dog incident on February 13 and February 19, but it immediately returned to the mean after the hotspot. Even though the active addresses on the Solana chain have gradually decreased, they are still more than 3 times that of BNB Chain.
Similarly, BSCs DEX trading volume also showed a peak-like growth. After a short-term increase on February 9 and February 13, the DEX trading volume returned to the mean.
Today, DeFiLlama data showed that BNB Chain DEXs trading volume in the past 24 hours reached 1.64 billion US dollars, surpassing Solana to rank first. BNB Chains main DEX PancakeSwap also became the DEX with the highest trading volume in the past 24 hours.
In addition, the data of Four.meme, a meme issuing platform on BNB Chain, is also worth noting. According to Dune data , the total revenue of the Four.meme platform currently exceeds 3978 BNB (about 2.52 million US dollars). The number of daily independent users, daily number of tokens issued, and daily transaction volume of the platform all began to grow after February 6, but after reaching a peak on February 13 (guess the name of CZs pet dog), they all began to decline until the emergence of CZ Middle East concept coins such as Mubarak.
Based on the above data, CZ-style Build will increase the popularity of BNB Chain in the short term and attract liquidity from retail investors or local players, but once attention fades (about one to two days), all indicators of BNB Chain will return to the mean and will not be able to retain players in the long term.
Community Voice: View CZ from a Development Perspective
Some community players believe that CZ-style Build is not only unable to retain users in the long run, but CZ is also consuming its own credibility. Once its credibility is diluted and overdrawn, it will face large-scale user loss like Solana Celebrity Coin.
However, there are also community players who support CZs approach, believing that CZs leading by example can continue to attract developers, project parties and users to migrate to BNB Chain. Chinese-speaking KOL Crypto Wei analyzed that in the short term, as long as CZ continues to produce new meme coins that conform to the law of communication pricing while stabilizing BNB, it can revive BNB Chain through asset operation logic. When the price of a Meme coin reaches a certain height and cannot attract new funds to enter the market, new Meme coins will be issued to allow players to reinvest and establish a new wealth effect. Over time, more developers will come to BNB Chain to issue bids and build pools, truly increasing TVL. At that time, CZ will not have to dominate the Meme coin, but will hand it over to more high-quality conspiracy groups, and CZ will not end up in disgrace.
At the same time, the current BNB Chain Meme coin has a natural advantage over Solana and other chains’ Meme coins, which is that it is easier to be listed on Binance. After all, Binance is still the liquidity center of cryptocurrencies and the goal of Meme coins. TST is often used as a typical case.
Shouting orders is neither shameful nor new, but does BNB Chain need it?
In fact, as the image spokesperson of a public chain, it is normal to actively call for orders for various sectors in the ecosystem. During the hot period of Ethereum Meme, Vitalik passively endorsed Meme coins in the ecosystem, and even the Meme coins received in the selling address could trigger FOMO; during the hot period of Solana Meme, Toly forwarded multiple projects, resulting in much less effect now; Base founder Jesse also personally called for orders last year, hoping to get more TVL for Base through Meme, and even shaved his head to create a sense of topic (Related reading: After the Meme Summit, the Base Meme coin ecosystem officially entered the second half ). Compared with them, the late CZ is still implicit.
Being late also poses a problem - veteran players have become desensitized to many meme narratives and gameplay, and have experienced the pain of celebrity coins. Without the right time, the effect of CZs Build is greatly reduced.
What about the “geographical advantage”? Does the current BNB Chain really need a CZ-style “Build”?
Admittedly, the short-term on-chain activity brought by CZ did force the BNB Chain ecosystem to make rapid improvements in supporting tools, improving the user experience under high-frequency trading. However, judging from the results of CZs several calls, CZ and BNB Chain officials did not cooperate closely. CZ seemed to have triggered a trading boom and discussion on social media without any signs, and BNB Chain seemed to be catching up and providing support. Meme has a very short attention span and cannot tolerate being late.
Finally, let’s talk about “harmony among people” - In 2024, BNB Chain released the Web3 blueprint, saying that its mission and vision is to attract the next 1 billion users to Web3, and in 2025, it proposed the development theme of AI First. To guess the intention of BNB Chain officials, the real vision is more users and practical products. This is not in tune with CZ’s recent Meme “open self-study class”. CZ’s shouting has not directly helped AI settle in, and the declining Meme user group no longer has the ambition to attract a large number of outsiders to enter the market.
Now, we can only believe that doing more will not go wrong. Or perhaps, CZ is quietly building BNB Chain in a place we cannot see, hiding his merits and fame.
