BNB Chain memes plunge 95%! Why traders eye Solana comeback

by

Key Takeaways

Why did capital rotate from Solana to BNB Chain?

Ah, the sweet scent of easy gains! BNB Chain flaunted its higher ROI like a show-off at a party, luring in traders with promises of memecoin glory. The result? A whopping $100 million in liquidity, as desperate traders hopped on the bandwagon, thinking they were about to get rich quick. Spoiler alert: they didn’t.

Why are traders now eyeing a rotation back to Solana?

Enter BNB’s memecoin crash, a train wreck of losses between 60% to 95%, which sent traders running back to the comforting arms of Solana. Why? Well, turns out, Solana’s got better on-chain fundamentals and a much cleaner macro setup. Who would have thought, right? 🙄

Looking closer at the cross-chain chaos, Binance Coin [BNB] flexed its muscles, delivering a 25% monthly ROI, nearly 6 times what Solana could muster. Of course, traders noticed and rushed to follow the money. Debridge data reports a staggering $100 million left Solana for BNB Chain [BSC] in just one month, making up 30% of SOL’s total outflows. In short, Solana was bleeding liquidity, and BNB was like, “I’ll take that!”

But oh, BNB’s memecoin heaven has turned into a nightmare. Traders are staring at losses north of 80%, and it’s only getting worse. Reality check: maybe BNB isn’t the golden goose after all. The question now is: could Solana be the hero we’ve all been waiting for?

Retail chased BNB Chain memes at September peaks

Oh, the good ol’ days of September when BNB’s price was on fire, and memes were flowing like cheap champagne at a wedding. At its peak, more than 100k traders rushed to grab the newest BNB memecoins, with about 70% basking in profit, according to Bubblemaps. One lucky soul made $10 million, while 40 traders hit seven figures, and 900 wallets walked away with $100k+ in their pockets. Lucky, right? 🍀

The memecoin craze sent BSC’s DEXs into overdrive. PancakeSwap alone processed $80 billion in September, its busiest month since 2021. October is already off to a hot start, with $30 billion in volume. 🥞🔥

In short, it was a memecoin madness on BNB Chain. But as with all good things, it came crashing down. Tokens plunged by 60% to 95% in just 24 hours. HODL, for example, dropped a devastating 87%. Ouch.

This wasn’t your typical pump-and-dump. No, this time Binance’s CZ warned traders that his tweets weren’t to be confused with market signals. A ‘fast unwind’ followed, and just like that, traders are back to eyeing Solana, like a kid who lost their ice cream and is now desperately searching for a new one.

Solana’s fundamentals shine amid BNB bleed

“This would never happen on Solana,” one trader muttered, no doubt sipping their coffee with a smug grin. Another pointed out Solana’s sleek on-chain ecosystem and robust macro factors, suggesting that capital might soon flow back into SOL while BNB takes a much-needed hit. The SOL/BNB ratio is key here, folks. Pay attention.

The monthly chart tells the tale-SOL’s ratio to BNB has dropped 16%, settling at 0.17. That’s the lowest point since 2023. It even broke below the crucial 0.20 support level, a first since last year. Now, daily action seems to hover around 0.15 as support. Could a breakout flip momentum back to Solana’s favor? 🤔

The recent bloodbath in the memecoin market has triggered a complete shift in sentiment.

Now, traders are eyeing Solana’s potential comeback like a phoenix rising from the ashes. If SOL can reclaim the 0.20 mark on the SOL/BNB pair, it might just spark a new rotation. But this time, it won’t be about the hype-it’ll be about the solid fundamentals backing it up. Go, SOL, go!

Read More

2025-10-10 21:36