The crypto world in March does not seem to be going smoothly. As the tightening of liquidity and the uncertainty of the macro environment have reduced investors' confidence, the market consensus seems to be generally pessimistic. Mainstream cryptocurrencies, mainly BTC, are constantly fluctuating and trading sideways, looking for new opportunities. However, on BNB Chain, MEME coins, led by Mubarak, are irritating more investors.
CZ’s appeal: Staying out of the way, always there
Since CZ was released from prison, although he is no longer the head of Binance and his personal work focus is on the educational project Giggle Academy, his "prestige in the world" still makes his every move closely watched by people in the crypto circle.
On the evening of March 12, Binance officially announced that it had received a $2 billion investment from Abu Dhabi investment institution MGX (Mubadala G42 X). This is the first time in Binance's history that it has introduced institutional investment, and it also set a record for the highest single investment amount in the crypto industry to date.
For Binance, which has strong financial resources, the greatest significance of this investment is actually the strategic endorsement, resource support and policy protection of the UAE’s sovereign capital.
Binance officially released a tweet on X, with a picture of a "rich editor" wearing a Middle Eastern headscarf, and the text "Mubarak" was retweeted. The word "Mubarak" carries deep cultural and religious significance in Arabic and is widely used in names, holiday greetings and daily expressions to convey blessings and good wishes.
This was originally a very simple act of "retweeting to support", but coupled with the extremely magical Middle Eastern anime image and CZ's concise retweet, this made investors on the chain have an impulse of "Mubarak, must rush!", and a large number of "Mubarak" related MEMEs began to be listed.
On March 15, Binance Alpha launched $Mubarak at the speed of light. The next day, CZ spent 1 BNB to buy 9161 $TST and 20155 $Mubarak. He also posted a message on Binance Square, apparently responding that he would "do some testing over the weekend." This move directly pushed the hype of MEME coin $Mubarak to a climax.
Mubarak data performance: high-quality MEME, lack of innovation
According to DefiLlama data on March 18, in the past 24 hours, the net inflow of funds into the BNB Chain cross-chain bridge reached 8.37 million US dollars, surpassing Noble (5.98 million US dollars) and Arbitrum (2.75 million US dollars), ranking first among all public chains.
According to GMGN data, in the past 24 hours, the MEME coin with the highest transaction volume on BNB Chain was $Mubarak, with a transaction volume of 103 million US dollars. In comparison, on the Solana chain, the highest transaction volume of a single MEME coin in the same period of 24 hours was only 24.8 million US dollars.
As market enthusiasm rises, $Mubarak's highest market value reached 220 million US dollars, easily breaking through the billion-dollar market value barrier, and the blue-chip index reached 4.2%, with excellent performance. However, Mubarak has the problem of insufficient liquidity depth, which may make it difficult for large holders to sell their positions without significantly affecting the price. The current market is falling, and new narrative developments are needed to stop the decline. Compared with the popular $TRUMP, the market value of $Mubarak is not worth mentioning, but it is enough to focus the market's attention on BNB Chain. The conventional MEME narrative structure also makes $Mubarak seem not outstanding enough and lacks underlying innovation.
Who is the biggest winner? Binance Wallet is one step ahead
Although the popularity of MEME coin $Mubarak stems from the investment of Abu Dhabi investment institution MGX in Binance, Binance also took another action during the same period. Binance Wallet also launched a six-month zero-fee trading event.
On March 17, Binance announced that it will launch a zero-fee trading event starting at 16:00 on March 17, 2025. It will apply to all trading pairs in the Binance wallet and will last until 16:00 on September 17, 2025.
During the event, all transactions completed through the exchange and cross-chain bridge functions in the Binance Wallet or the quick purchase function of Binance Alpha are exempt from transaction fees, but users still need to pay network gas fees. In addition, transactions conducted through third-party dApps are not included in the event.
For this reason, Binance He Yi also called out online, "Give me a chance, teachers." This is obviously the most critical and appropriate time for Binance Wallet to seize more market share. While other competitors are deeply trapped in the suspension of DEX services, wallets and exchanges are not integrated, Binance Wallet, combined with the resurgence of BNB Chain MEME market and the explosion of MEME coin $Mubarak on the entire network, officially issued a statement saying, "No time to explain, update Binance to the latest version first!"
Previously, He Yi said frankly in an interview: "We admit that Binance itself started late in on-chain services. We have spent a lot of time in the past year recruiting outstanding talents, rebuilding the wallet team and reconstructing the system from the bottom up. Although it is still a "bare house" at present, the team has clarified its future plans. The goal is to gradually improve functions based on meeting user needs." The currently announced 6-month "zero transaction fee" preferential policy is a heavy punch launched by Binance Wallet to the crypto wallet market.
Summarize
"Brother is just a legend", perhaps this can be used to describe CZ to a certain extent. After his return, he has his own work focus and planned life, but he is always influencing the next development of Binance. He can separate himself from Binance, but perhaps in everyone's mind, he has always been a legend of Binance. The $Mubarak born from the combination of the MEME coin standard template also allows Binance's BNB Chain and Binance Wallet to generate highlights that attract user attention from the complex crypto market. "Binance Moment" may become the next new term in the crypto circle worth advertising.
