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I've been seeing some groups for young BSC players lately, and they're jokingly calling BSC the "farmer's chain" because of its daily settlements and no upper limit. Actually, Binance's operating model was very effective initially because it was backed by the liquidity of the largest exchange and the interaction between Heyi/CZ.
However, the backlash has recently become apparent. Because the model is too fixed, in the financial field, once a strategy and model are known to most players, it becomes ineffective.
The spread path of BSC's meme is simple: CZ/Heyi texts to find the meme/or other hot topics - interaction between the two (pump and dump) - ambush and pump - more interaction and pump - alpha listing (pump) - futures listing - spot trading (pump).
Memes that haven't escaped this path, like Hakimi, have a strong community and have been trading sideways at high levels for months, but Binance hasn't even given them a single futures contract. With "I'm coming!" on the list, it's easy for those below to explain to their bosses: "Look, 'I'm coming!' is very popular; even negative publicity is still publicity, and being down-to-earth is relatable." Then, presenting a bunch of data to the boss proves it's "community-driven" while also pleasing the boss's aesthetic sense—why not? After all, most people are just employees, driven by short-term KPIs and upward management, not long-term vision. This situation isn't unique to Binance; it's common in any company.
How to resolve this dilemma? Simply listing a non-Binance-based meme for spot trading might be difficult, as Binance fears it will crash like other memes, leaving them in a difficult position. Binance Life hasn't had its cap removed; other BAC memes have only reached tens of millions at most, and people don't have higher expectations.
If Giggle/Binance Life could be listed on 1B, and a non-Binance-based meme for spot trading could be listed to continue the pump, everything might be different. But Binance can't fund a pump; it's all about retail investors' wishful thinking, or at most, close associates of Binance, but even they need to make money. Everyone's here to make money; they're not doing charity.
In this market, only retail investors are truly doing charity; the poorest group is doing "charity."
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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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