# BNB Chain Gains Traction in DeFi Amid Meme Coin Frenzy

The BNB Chain has surged into the spotlight within the decentralized finance (DeFi) market, buoyed by a burgeoning meme coin craze. With Solana (SOL) experiencing a dip in trading volume, retail investors have increasingly turned their attention to the BNB Chain.

Cointelegraph noted that “the meme coin market was predominantly led by Solana from 2024 to early 2025,” citing numerous projects themed around celebrities and politicians, including an attention-grabbing meme coin associated with former U.S. President Donald Trump.

However, the Solana ecosystem took a hit to its credibility after the ‘Libra’ project, which involved Argentine President Javier Milei, was embroiled in insider trading allegations.

Seizing the moment, the BNB Chain has absorbed a significant amount of meme coin trading volume. Its platform, Four.Meme, mirrors Solana’s Pump.fun by boosting liquidity for new projects and hosting daily trading competitions. Some of these meme coins have even been listed on Binance.

# PancakeSwap Reflects BNB Chain’s Momentum

Decentralized exchange (DEX) PancakeSwap, which operates on the BNB Chain, has recently been driving trading volume growth. From March 15 over a two-week period, PancakeSwap topped the daily trading volume charts among EVM-based DEXs on nine occasions. Justin Barrow, Head of Business Development at Sei Foundation, noted, “While meme coin trading volumes in other ecosystems dwindle, the BNB Chain continues to thrive.”

According to CoinGecko data, two meme coins on the BNB Chain account for roughly 13% of PancakeSwap’s daily trading volume. This surge in activity also benefits liquidity providers with increased earnings.

The BNB Chain holds the top spot for the number of active wallets among EVM networks and ranks second overall behind Solana in the broader blockchain ecosystem.

# Meme Coins Fuel Growth: The ‘Broccoli’ Meme Frenzy

In 2025, the BNB Chain reaffirmed its commitment to the meme coin ecosystem with the release of its tech roadmap. Binance founder Changpeng Zhao (CZ) sparked a wave of ‘Broccoli’ meme coins by mentioning on social media, “My dog’s name is Broccoli.” While CZ did not launch any tokens himself, he hinted at potential interactions with some tokens.

The meme coin market became even more vibrant, highlighted by an investor who turned $232 into $1.1 million, creating significant buzz. Concurrently, the BNB Chain began outperforming rival chains in key DeFi metrics, surpassing Solana and Ethereum Layer 2 networks in daily fee revenue.

On February 18, the BNB Chain launched its ‘Meme Coin Liquidity Support Program,’ pledging $200,000 in permanent liquidity to top-performing meme coins. Rachel Lin, CEO of SynFutures, commented, “When TVL is stable, but trading volume spikes, it typically indicates retail trading activity. This is currently evident in the BNB Chain’s meme coin sector.”

# Solana’s Temporary Lull: A Fluid Long-Term Outlook

Solana’s meme coin activity has trended downward. As of March 22, the number of token issuances stood at around 26,300, the lowest since November last year, according to Solscan. Daily transaction counts also fell below 43 million as of March 1.

Despite these declines, Solana still surpasses BNB Chain in total activity. Nansen data shows that even on Solana’s slowest trading days, it exceeds BNB Chain’s peak of 7.8 million transactions. The proportion of new tokens on Pump.fun meeting trading requirements dropping below 1% further suggests a cooling period.

Alan Oryk, Co-founder of Quai Network, remarked, “This reflects not long-term dominance by any single chain but rather a cyclical shift in speculative interest.” Lin added, “Solana appeals primarily to crypto-savvy users, whereas the BNB Chain attracts a more global and retail-centric user base.”

The BNB Chain’s rise underscores the cyclical nature of the meme coin market and the sensitivity of the broader market to regional user preferences and trading structures. While Solana maintains overall transaction dominance, the BNB Chain has demonstrated the capacity to capture substantial trading volume and investor interest depending on the circumstances.