BNB Chain's Meme Coin Boom Nets Traders $401M in Profits
The BNB Chain has seen a boom in meme coin trading, with a significant number of traders profiting from the trend. Total on-chain profits have reached an impressive $401 million, with many traders, including one, making over $10 million.
The meme coin season on BNB Chain has been a profitable one for many traders. Over 70% have seen profits, with 44 wallets gaining at least $1 million. PancakeSwap, a leading DEX on the chain, contributed a staggering $4.28 billion to the daily trading volume on October 8, pushing the BSC DEX trading volume to a high of $6.05 billion, the highest since June 2025.
One notable event was the launch of a new meme coin following a phishing attack on BNB Chain's official X account. Despite the suspicious origins, the coin rapidly grew to a $30 million market cap before crashing. One trader turned $68,700 into $9.4 million by buying early, a 135x surge before the price plummeted. More than 100,000 on-chain traders have bought new meme coins during this season, attracted by the potential profits.
The meme coin season on BNB Chain has been a profitable period for many traders, with significant profits and high trading volumes. However, the rapid growth and subsequent crashes of some meme coins serve as a reminder of the volatility and risks involved in cryptocurrency trading.
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