Bybit was stolen, OKX fell, Binance was full, one article analyzes the recent Binance Twitter traffic blitz

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MarsBit
03-18
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Here is the English translation of the text, with the specified terms translated as requested: The Middle Eastern oil tycoons may never have imagined that the Arabic blessing "Mubarak" they use to express well-wishes would become the secret code for the sudden wealth of the old-timers in the Chinese crypto circle. What's even more surreal is that the crypto transformation of this Arabic blessing happened at a delicate moment when OKX was hit by regulatory crackdowns and Bybit was embroiled in a hacking scandal. In the crypto world of March 2025, the BNB ecosystem staged a magical realist drama: CZ ignited the Middle Eastern cultural meme with an Arabic robe avatar, He Yi reshaped the on-chain trading rules with "no-loss trading", BNB Chain's daily trading volume surpassed $1.64 billion, crushing Solana, while the "Mubarak" on-chain meme coin skyrocketed a thousandfold in three days, creating a $200 million market cap. This frenzy encompasses both the disruptive impact of technological innovation on the industry landscape and the collision of human greed and tech bubbles - as traffic becomes the new oil and technology evolves into a new religion, we may be witnessing the most complex ecological evolution experiment in crypto history. Traffic Manipulation: From Twitter Deification to Violent Cultural Symbol Implantation... At the end of the article, the key points are: - The "Mubarak" token's meteoric rise to a $200 million market cap in just 3 days, leveraging Middle Eastern cultural symbols. - He Yi's "no-loss trading" promise to siphon user funds from competitors like ETH to the BSC ecosystem during service outages. - The powerful combination of CZ's Twitter influence and He Yi's crisis management skills, which allowed BNB to surge 25% in 8 days, with $8 million in 24-hour inflows and $2.5 billion in 24-hour DEX volume. - The risks emerging in the BNB ecosystem, including the breakdown of decentralization promises, the hollowing out of organizational capabilities beyond the founders, and the structural imbalances in DeFi protocols' real yields. - The regulatory tightrope walk, as exemplified by OKX's temporary suspension of DEX aggregator services.

Binance's current good fortune is to some extent the result of stepping on the regulatory corpses of its competitors. When OKX was investigated by the EU for money laundering by hackers, Binance had already set up a firewall of sovereign wealth funds and spun off its US business in 2024 to package itself as a "regulatory-friendly" enterprise. This "ten-year preparation of compliance materials" endurance is far more terrifying than the temporary compliance performance of some exchanges.

But regulatory tolerance comes at a cost. The KYC module launched on the BNB Chain has turned the originally anonymous on-chain transactions into a traceable data pool; the "full compensation for the squeezed" service promised by He Yi is essentially a centralized intervention in the decentralized market. Although these operations have won user goodwill in the short term, they have also shaken the most precious decentralization belief in the crypto world——when Binance is both the referee and the player, who can guarantee that the next one to be squeezed is not the retail investor?

Crypto Revelation: There are no permanent winners, only eternal greed

Looking back on this magical week, we see not only Binance's luck, but also the cruel Darwinism in the crypto world. When OKX fell due to technical vulnerabilities and Bybit crashed due to security incidents, Binance completed the dimensional attack on its competitors with a combination of Twitter marketing, ecosystem coordination, and regulatory arbitrage. Rather than saying this ability is strategically brilliant, it is more accurate to say it is a precise grasp of human weaknesses - after all, in the casino, the house doesn't care who comes to play, only where the chips are flowing.

Perhaps the true crypto spirit lies not in creating as many get-rich-quick myths as possible, but in remembering the original intention in Satoshi Nakamoto's white paper when all exchanges are competing to run the fastest. After all, in this industry, today's chosen one may become tomorrow's regulatory target - just like the AI robot in CZ's reposted video, it will never know whether the next created token is the ticket to financial freedom or the epitaph of belief.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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