GuShiio.com A returning CZ, an anxious currency security, and a BNB Chain that cannot be supported?
Written by 1912212.eth, Foresight News
Recently, the overall market situation has fluctuated and continued to decline, and the MEME craze seems to have gradually subsided. However, the memein TST on BNB Chain suddenly exploded.
On February 6, the market value of the TST was only US$500,000. On February 9, Binance announced its launch, and TST immediately surged through the market value of US$500 million, rising more than 100 times in three days. At present, TST has dropped from a peak of US$0.52 to around US$0.17, with a retracement of more than 60%.
Originated from an educational video
Recently, the BNB Chain team produced a video tutorial to publish memes on the www.example.com. The video uses the token TST as an example as a display. This detail was discovered and vigorously promoted by the savvy China community KOL, and quickly ushered in a lot of growth. Four.meme
The BNB Chain team quickly deleted the private key of the creator’s address (0.13% of the total amount held in the token) after learning of the hype. No one in its team or Binance itself held the token. Zhao Changpeng also kept clarifying on tweets that it had nothing to do with him or his team. Perhaps due to its “decentralized” characteristics, the statement did not cause the price of TST currency to fall, but instead ushered in another climax of hype due to its popularity and volume.
However, just after it officially launched Binance, TST did not get rid of the curse of “landing Binance will fall” and quickly fell all the way. CHEEMS, another BNB Chain eco-meme launched with it, also fell from a maximum of US$0.001884 to US$0.0007.
After TST launched Binance, the smart whale chose to take profits and take profits. However, as the new coins that have been put on the line once again plunged, the crypto community once again questioned the level of Binance’s listing and whether the ecology of BNB Chain can take shape.
Wealth effect is fading, and community refuses to pay for BSC
As a leading exchange in the crypto industry, Binance has won full applause from the market in the past cycle for its strong wealth effect and currency listing effect. Nowadays, times have changed, and VC coins on the exchange are no longer popular in the market and are generally facing a survival crisis. Memo coins on the chain have instead become a wealth destination for users.
This phenomenon has caused altcoins on exchanges to generally rise slowly and fall extremely fiercely. In addition to mainstream currencies, most copycats have experienced huge corrections in the past two months. Memecoin also experienced a period of decline after the Trump concept coin.
Binance is in a dilemma in terms of its strategy of placing cash. Tokens with higher market capitalizations on the market often have low returns, and currencies with too small market capitalizations on the market are too risky. Huge ups and downs may cause heavy losses to many investors. In addition, since Binance expanded globally, it has also been troubled by compliance issues, affecting the advancement of many businesses.
He Yi once said that Binance has a complex review process for listing coins, but TST, which was launched immediately this time, was launched only a few days after its birth, causing some community members to question: Does Binance really have a detailed review? Or choose fast track to support the BNB Chain ecosystem.
BNB Chain that cannot be supported
Since CZ was released from prison last year, it is no longer allowed to participate in Binance’s daily operations according to the law. As an influential figure in the industry, the scope he can cover is still quite wide. For example, in terms of investment business and its public chain ecosystem, Binance Labs has officially changed its name to YZi Labs and transformed into a large family office. Its investment scope has expanded from cryptocurrency to AI and biotechnology and other fields. It stated in its official announcement that CZ will continue to play a key role in residential investment activities, directly engaging with entrepreneurs and providing guidance.
In addition, the ecological progress on BNB Chain has also attracted much attention from CZ. Recently, Binance Labs has invested in its ecological re-pledge Kernel and DEX project THENA. The craze of re-pledge has not started again, and the trend of THE currency price shows that the community has not bought it either. The currency price has dropped from a high of US$4.18 to US$0.47. Another ecological project, CAKE, has recently dropped to around US$1.6, not far from the historical low of US$1.05.
Behind the crisis, BNB Chain launched an AI agent solution this year and deployed the meme launch platform Four.meme into GMGN, trying to seize the wave of memes and AI agents. The embarrassment lies in its slow response, which happened to encounter a big market.
BNB Chain performed well in the last cycle, while this cycle performed flat, and it can even be said to be left far behind. Ecological projects have performed poorly, while meme ecology has not improved. Compared with Solana and Base chains, the trend has dropped significantly. As of January 30 this year, the number of daily active addresses on the Solana Network is 6 times that of BNB Chain. Even the number of daily active addresses of L2 rookie Base has surpassed that of BNB Chain. About a year ago, the number of daily active addresses on BNB Chain is twice that of Solana.
The ecology is dilapidated and the wealth effect is lacking, and CZ, as a facade, cannot sit still.
On February 7, CZ launched a vote on “Should BNB Chain try to eliminate or actively reduce MEV issues” and said,”I hate any type of pre-emptive trading, and MEV is like this behavior to me. In a decentralized world, no one can stop it completely. But there are still ways to reduce it.”
Later, CZ responded to and forwarded TST-related questions on Twitter many times and expressed its opinions. The popularity of TST soared rapidly in a short period of time, and some smart addresses purchased early made huge profits.
Following memes, CZ once again specifically talked about the issue of listing, which the community is more concerned about.”As an observer, I think there is a problem with Binance’s listing process. The platform first issues an announcement and then goes online 4 hours later. Although the notice period is necessary, during those 4 hours, the token price will be pushed up on DEX and then someone will sell it on CEX.”
In this regard, community members suggested that CEX could adopt measures such as simultaneously providing initial liquidity, incentive liquidity plans, and docking with the DEX liquidity pool to optimize the currency placement process. In response to netizens ‘suggestions, CZ said,”I think CEX should automatically list (almost) all tokens like DEX, but I am no longer responsible for operating CEX.
summary
If CEX really automatically launches almost all tokens like DEX, there will be a big question mark on the positioning of CEX products, the effect of listing coins, etc. involved. CZ has recently frequently posted tweets on issues such as BNB Chain and listing of coins. Of course, it is in response to community concerns, but judging from the current performance of some representatives, the results have been minimal.
Perhaps the root cause of the problem goes far beyond Binance itself, but involves more deep-seated problems involving the entire crypto industry: crypto nihilism, one after another meme blood-sucking, lack of industry innovation, and selling coins into the main business of the project party.……
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