Memecoin price

Why did BNB reach $1000? Good question. No one knows for sure. Correlation does not prove causation. But here is an incomplete list of possible reasons. People tend to give me too much credit. I didn't do much. I am not technically involved like Vitalik. I am at best a mascot, but more just a community member. First and foremost, I think the new pro-crypto US Administration probably made the biggest difference. Their stance influences not only the US, but most countries in the world. Most countries now adopt a pro-crypto stance. This is a significant lift for the industry. A rising tide lifts all boats. Earlier this year, memes made a comeback on BNB Chain. I actually made some mistakes that may have hindered meme coin progress on BNB Chain. I never aped meme coins before. In my clumsy learning, I may have caused some PVP, which divided the community a bit. During the same process, I learned about the negative impact of MEV attacks (again under public eyes). BNB Chain devs, nodes, block builders, wallets, DEX, and other players subsequently spent quite a lot of effort in reducing MEV attacks. At the same time, BNB Chain improved from a 3-second block time to 1.5 seconds, and then again to 0.75 seconds. Capacity also improved significantly. Gas fees on BNB Chain were reduced by 10x overnight, making it one of the lowest fee blockchains. Transaction volume further skyrocketed. BNB Chain became the highest transaction volume chain. Binance Alpha removed the need for project tokens to go to smaller exchanges for listings first. Hence, it provided a far more streamlined process for projects to progress from DeFi to CeFi. I was not involved in the Alpha design at all. I learned about it on X. With the comeback of meme coins, BNB Chain also saw its transaction volume increase in other sectors, such as stablecoins, DEX, AI, and RWAs. WLF issued the first native stablecoin USD1 on BNB Chain, further boosting the stablecoin liquidity on-chain. The previous native stablecoin BUSD (not issued by Binance) was shut down by NYDFS in 2023, just before the 3 banks (Silvergate, Signature, Silicon Valley Bank) were shut down, leaving a gap that was finally filled by USD1. USD1 grew quickly. Multiple RWA issuers deployed on BNB Chain. Hundreds of AI projects deployed on BNB Chain. BNB Chain burned $1.6 billion worth of BNB in the last quarter, and also billions in the previous quarter. People often ask, why burn $1.6 billion? Why not spend it on marketing? Well... The SEC dropped their lawsuit (filed under Gary Gensler) against Binance, Binance US, and me personally in May. Removing the last attack on BNB potentially being a security. I am not a lawyer; this is my layman understanding. Could be off. But it was definitely good news for BNB. YZiLabs (and other VCs) invested/incubated dozens of strong projects on BNB Chain. Existing projects on the chain are doing well. Pancake Swap is handling huge volumes. Lista is competing with Venus on DeFi lending. Four are launching memes and RWAs. Aster's awesome TGE... Multiple DAT companies are buying BNB, in the hundreds of millions each. More builders on BNB Chain. Strong community support. (Thank you! 🙏) ... many other reasons I don't even know about ... Lastly, the 0.25% rate cut yesterday definitely helped in some way too, even though I don't fully understand it. Most importantly, I expect much more to come from this vibrant ecosystem. Keep building! 👍