According to The Block report, Pump.fun has recorded the lowest average daily trading volume since Christmas. Last week, Pump.fun's average daily trading volume was only $560 million, compared to a record single-day volume of $3.13 billion three weeks ago. On the other hand, after the $TST token, the BNB Chain has also experienced a major explosion, with multiple DeFi protocols seeing significant growth. Binance Alpha has also added several blue-chip protocols today (13th), including Morpho, Ondo, Virtual, and Aerodrome, which is considered a competitor on the Base chain DeFi protocol. Is something big coming?
(The New Generation DeFi Hyperstructure Paradigm: The Lending Protocol Morpho)
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ToggleTrading Volume, Graduation Rate, and Bribery Fees Have Decreased Significantly, Data Shows Capital Has Shifted from Solana to BNB
In addition to the sharp decline in average daily trading volume, the graduation rate (successful listing on Raydium) of Pump.fun tokens has also dropped from 1.54% and 1.59% in the previous two weeks to 1.04%. This seems to confirm the trend of more conservative capital flows in Solana. deBridge had previously posted that a large amount of capital has shifted from Solana to the BNB Chain, with on-chain meme coin capital returning to its original birthplace.
Additionally, the tips for Jito validators have dropped from an average of 42,000 SOL and 68,500 SOL in the previous two weeks to 23,800 SOL, which The Block described as a euthanasia roller coaster. Just as the Solana chain is gradually losing its vitality, there are also reports that Pump.fun is negotiating with centralized exchanges to conduct a Dutch auction for its token launch.
Will BNB Become Great Again? Binance Alpha Lists Blue-Chip Protocols
At the same time, the BNB Chain has become very hot, with the DeFi protocol represented by PancakeSwap seeing a general increase, and the AI agent platform MyShell IDO being oversubscribed 50 times in just six hours. Binance has also been busy, with Binance Alpha listing blue-chip protocols such as Ondo Finance, Morpho, Aerodrome, Virtual, and GoPlus on the 13th. Ondo Finance is one of the leading players in the RWA track, Morpho is leading the new generation of DeFi protocols, Virtual is a representative of AI agent platforms, and GoPlus is also an outstanding player in the security track.
What's more surprising is that Aerodrome, the largest DEX on the Base chain, was also listed this time, as the Base chain launched by Coinbase is often seen as a competitor to Binance, and the community generally believes that Binance will not do favors for its competitors. Virtual also originated from the Base chain and has recently landed on Solana. In addition, Binance has also recently listed B3, which is from the Base ecosystem. All these signs seem to indicate that Binance, in order to consolidate its leading position, is not only trying to make BNB's influence surpass Solana, but is also willing to pay attention to hot spots and list the tokens of competitor protocols.
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