Author: 1912212.eth, Foresight News
Recently, BNB has surged to $1,300 after breaking through the $1,100 mark, repeatedly reaching new all-time highs. Against this backdrop, several meme coins within its ecosystem have recently emerged as star meme coins, with their values surging hundreds of times, threatening to overtake Solana's dominant position in the meme space. The star of the show recently is the uniquely named "Binance Life" meme coin.
"Binance Life" originated as a mockery of the Binance ecosystem within the crypto community. The meme draws inspiration from the term "Apple Life" in Chinese online culture. Chinese media outlets describe the crude labeling of "Android people" and "Apple people" as "rich vs. poor," "low vs. high," dividing and disparaging people based on their consumption habits. This suggests that, online, "Apple Life" refers to the more advanced group. Undoubtedly, "Binance Life" alludes to the Binance ecosystem's position and influence within the crypto community.
According to GMGN market data, Binance Life has been rising steadily since its launch on the evening of October 4th, from a low of around $0.001. Following its announcement of listing on Binance Alpha, it has continued to reach new all-time highs, becoming the first Chinese-language cryptocurrency to be listed on Binance in recent years. Currently, Binance Life has peaked above $0.50 before falling back to around $0.47. Its market capitalization has jumped to over $470 million, with a 24-hour trading volume reaching $336.6 million.
In less than 4 days after its launch, the meme coin Binance Life has achieved a market value of over US$500 million. Corresponding to this is the exaggerated wealth effect spread throughout the community, which has injected Fomo sentiment into the buying.
According to GMGN monitoring, crypto KOL Shenzhen University Gaocaisheng.eth spent $3,214 to buy "Binance Life" three days ago and has not sold it yet. The profit of a single coin reached $3.3 million, with a floating profit of more than 1,000 times.
Lookonchain monitoring shows that another whale (0x8844) spent 5 BNB (about US$5,756) to purchase 11.15 million "Binance Life" two days ago, which is now worth more than US$1.6 million.
Even latecomers have seen significant returns thanks to their significant stake and courage. Address 0x505...4e933 spent $124,000 at an average price of $0.00696 to buy Binance Life, which is now worth over $1.4 million, representing a return of over 19x.
The exaggerated wealth effect even made countless market players sigh that the effect of TRUMP coin has finally returned.
Binance founders Changpeng Zhao and He Yi also continued to generate buzz in the Twitter community. Zhao Changpeng commented and liked a Binance Life tweet at noon on October 6th.
Binance's "Chief Customer Service" He Yi also commented on the community's forwarding and interaction to give away "Binance Life" and said that Dogecoin relies on the reward culture to strengthen the community.
The founder’s personal interaction also led to a crazy influx of funds into the Binance ecosystem meme, and other BNB Chain ecosystem meme coins such as FORM, MUBARAK, GIGGLE, etc. also saw a sharp rise.
A number of related meme coins soon emerged in the meme market: Binance Wallet, Binance Square, Binance Live, Binance Community, and even meme coins related to He Yi and Zhao Changpeng appeared everywhere.
According to AI Aunt's monitoring, a certain P player traded 65 meme coins on BNB Chain in the past 24 hours, including Chinese tickers such as humble Xiao He/anchor Xiao Zhao/Binance Community/Chinese/Binance Mascot/Binance Partner. His strategy is to cast a wide net and buy 100-300 dollars, and buy 1000-3000 dollars for good ones. He has made a cumulative profit of 87,000 US dollars in the past seven days.
While the market is lamenting the fomo wealth effect, some netizens also joked about the template for creating a wealth effect on BNB Chain: buy - the front of the car gets on the car - the front of the car calls out orders - Zhao Changpeng interacts with He Yi - Alpha - Aster - Binance contract - Binance spot.
BNB Chain's meme tokens have also siphoned off significant funds from the Solara ecosystem. DefiLlama data shows that its meme platform, Four.meme, has seen its TVL jump from $20,000 to over $70,000, with daily revenue increasing from $600,000 to $1.4 million, bringing its cumulative revenue to $21.31 million.
While Pump.fun, one of the largest meme launch platforms, has accumulated over $800 million in revenue, its recent 24-hour revenue was only $1.35 million, lagging behind Four.meme. In terms of seven-day revenue, Pump earned $8.58 million and Four earned $5.77 million, putting Four in a strong position to catch up.
If BNB Chain continues to create a good wealth effect, Pump's revenue may decline further and even face the risk of a large outflow of users, thereby accelerating the decline of the Solana meme ecosystem.
