The wealth effect has arrived on the BNB Chain.
On November 25, Binance Futures launched the 1000WHYUSDT and 1000CHEEMSUSD perpetual contracts. Whether it's the Shiba Inu MEME Cheems, which comes with a built-in sarcasm buff on the BNB Chain, or WHY, the token of the BSC MEME aggregation platform, they have become the focus of market discussion. At the same time, Binance Labs announced an investment in the BNB Chain re-staking infrastructure Kernel, further consolidating the DeFi ecosystem layout of the BNB Chain. Two days later, Binance announced that it will list Thena (THE) on November 27.
This DeFi representative project on the BNB Chain not only attracted a large number of traders, igniting the market's discussion on the BNB Chain DeFi narrative, but also caused a surge in the prices of various native tokens and MEME on the BNB Chain due to its flywheel effect.
In the past few days, the trading volume of the BNB Chain has been on par with the Base chain, the concept tokens of the BNB Chain have generally risen, and the liquidity flow within the ecosystem has continued to rise. The discussion about the "BNB Chain season" has heated up again, and the attractiveness of the ecosystem and the market attention are continuously increasing.
BlockBeats has summarized in this article which other projects on the BNB Chain are worth paying attention to, not as investment advice, and all market capitalization and growth data are as of 22:00 on November 28.
AI MEME
First, let's talk about the AI MEME on the BNB Chain. Recently, AI has been a hot topic in the crypto world, but the related MEME is still mainly on Solana and the BASE chain. The popularity of this concept on the BNB Chain is closely related to a tweet by Binance founder CZ. In the tweet, CZ mentioned: "AI labeling (or general AI data) is very suitable for on-chain completion. Utilizing global low-cost labor, unaffected by geographical 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 said not to think too much, the market's attention to AI MEME has indeed been raised, and the rise of AI MEME has become a direct reflection of this.
$AICELL
Market cap: $20.28M;
24-hour increase: 211.47%;
$AICELL is an AI project MEME coin based on the BNB Chain, and is also the winning project of the BNB Chain Hackathon in the first quarter of 2024. As one of the current community-discussed AI MEME theme projects, it is considered to be one of the earlier projects to explore this track on the BNB Chain.
$NMT
Market cap: $37.6M;
24-hour increase: 4.28%;
$NMT is the native utility token of NetMind.AI, an AI project on the BNB Chain. NetMind.AI has its own NetMind Chain that uses the Proof of Authority (PoA) consensus mechanism, providing GPU computing power rental of various specifications and models, as well as strategic partnerships with several innovative AI companies.
The NetMind.AI team has a deep background in AI. The founder, Kai Zou, graduated from Tsinghua University and has published multiple papers at top academic conferences, and has also collaborated with OpenAI researchers. This background allows NetMind.AI to connect with professional AI researchers and institutions. Currently, NetMind.AI has established academic cooperation with many world-renowned universities such as Tsinghua University, University of Cambridge, University of Wisconsin-Madison, Shanghai Jiao Tong University, Huazhong University of Science and Technology, and Fudan University.
MEME
Again, let's talk about MEME on the BNB Chain. The WHY and Cheems that have been listed on BN are already very familiar to everyone, so I won't go into details. Their current market caps are $80M and $137M respectively.
$COOKIE
Market cap: $38M;
24-hour increase: 54%;
$COOKIE is the token of the currently high-profile AI Agents MEME data platform COOKIE(Dot)FUN. The platform focuses on providing real-time market data related to AI Agents, including rankings of key indicators such as the market capitalization, price changes, and trading volume of each AI agent. 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.
The unique positioning of COOKIE(Dot)FUN gives it certain advantages in the current AI + Crypto boom. As AI Agents projects continue to explode, the market's demand for data analysis platforms is increasing. As the token of COOKIE(Dot)FUN, $COOKIE may play a role in the following aspects:
The platform may use $COOKIE tokens to incentivize users to participate in data uploading or analysis activities, further improving the quality of content and data accuracy in the ecosystem; $COOKIE may also be used as a tool for community governance, allowing token holders to participate in the platform's development decisions; as the platform's functions increase, $COOKIE may be used in more scenarios, such as data subscriptions, analysis tool unlocking, and payment for customized services.
$BOB
Market cap: $19M;
24-hour increase: 72%;
$BOB, full name Building On BNB, is a MEME project based on the BNB Chain, with a light-hearted and humorous style but strong propagation power. Its narrative revolves around the "BNB Chain mascot", and the community atmosphere is not bad.
"Bob" was originally a meme in the YouTube comment section, with a simple line drawing figure as the image. Its largest-scale dissemination began in 2013. At that time, YouTube required users to bind their Google+ accounts to comment, which sparked community discontent. Many users expressed their dissatisfaction with this change by pasting the ASCII art of "Bob", often accompanied by Unicode images of military tanks or AK-47 rifles, expressing the community's resistance spirit.
$FOUR
Market cap: $3M;
24-hour increase: 0.72%;
$FOUR is the native token of the MEME issuance platform Four.Meme on the BNB Chain. As a community-governed project, $FOUR is seen as an important native IP MEME in the BSC ecosystem due to its CZ MEME-related attributes and humorous abstract style.
Four.Meme is mainly committed to providing issuance support for MEME projects on the BNB Chain, and strives to promote the development of more high-quality projects by empowering the BSC MEME ecosystem. Previously, Four.Meme has reached a strategic cooperation with Unamano (WHYPAD), launching a $30,000 support fund specifically for MEME projects that use $WHY to launch on the Four.Meme platform. Although the current market cap of $FOUR is not high, the ecosystem support and strategic cooperation behind it indicate that $FOUR still has great development potential.
DeFi Infrastructure
$THE
Market cap: $780M;
24-hour increase: 27%;
$THE is the native token of the BNB Chain DEX platform Thena, and is the first project launched by Binance after CZ's release. The development of Thena has not only received user support, but also the retweet and recognition of Binance founder CZ. Therefore, the community suspects that this is an in-house product of BN, but the Thena team is indeed a wild European team. Related reading: "Interview with THENA: How the ve(3,3) model pioneer is changing the DeFi landscape of BNBChain?"
As a DEX platform based on the ve(3,3) model, liquidity providers no longer directly receive a share of the transaction fees, but are compensated through the issuance of Tokens for liquidity mining rewards. This means that Thena has provided more efficient liquidity solutions for other projects, and has also attracted more capital and cooperation.
On the first day of listing on Binance, the trading volume of $THE exceeded $1 billion, surpassing mainstream cryptocurrencies such as Dogecoin, Solana and XRP. Currently, the 24-hour trading volume of DEXS on the BNB Chain is second only to PancakeSwap, ranking second in the ecosystem.
$CAKE
Market cap: $1.17B;
24-hour change: 4%;
$CAKE is the native Token of the PancakeSwap platform. As the leading decentralized exchange (DEX) on the BNB Chain, PancakeSwap not only covers the core functions of a traditional DEX, but has also become an important pillar of the BSC ecosystem through its rich product ecosystem and reward mechanisms. PancakeSwap's initial function was similar to Uniswap, focusing on trading and liquidity provision. But with the rapid expansion of the platform, it has gradually evolved into a full-featured DEX on the BSC, covering a more diversified range of products and services.
According to Dune data, PancakeSwap's trading volume has always been the highest on the 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 the BSC.
$LISTA
Market cap: $559M;
24-hour change: 15%;
$LISTA is the native Token of ListaDAO, which focuses on liquid staking (LSD) and over-collateralized lending (CDP), and is the representative LSDFi protocol in 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 to the liquid staking direction.
ListaDAO's core mission is to lower the barrier to participation in DeFi, by supporting a diverse range of collateral and liquidity release tools, to provide users with more liquidity options and earning opportunities. Related reading: "Funded by Binance, the ListaDAO with airdrop is what?"
Users can stake assets such as BNB and ETH to obtain 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, and plans to expand to the Ethereum ecosystem and other multi-chain ecosystems in the future.
ListaDAO is also one of the important projects invested in by Binance Labs, and its close cooperation with the BNB ecosystem gives it a significant advantage in the liquid staking track. Its collaborations with platforms such as PancakeSwap, Thena Finance, and APX will continue to drive liquidity and user growth.
