BNB Chain has overtaken Solana in decentralized exchange trading volume, driven by increased interest in meme coins.
Surge in Meme Coin Interest
On March 16, BNB Chain recorded a $1.64 billion trading volume, driven by a surge in meme coins such as Mubarak (MUBARAK) and TaTaTu (TTU). This amounts to a 13% increase over the past week, while Solana saw a 28% decrease.
Support from Changpeng Zhao
The significant role in BNB Chain's growing popularity was played by Binance founder, Changpeng Zhao (CZ), who continues to influence the crypto community through social media by drawing attention to specific projects even after stepping down as leader.
Impact on BNB Token Price
Trader activity on meme coins positively affected the BNB token price, which has risen by more than 20% since November 2024, topping $600. Previously, the price increase was achieved through regular token burns that reduce the total circulating token supply.
The rising interest in meme coins on the BNB Chain platform led to increased trading volumes and token price growth, reaffirming its market presence.
