@ethmoodengfan Is this proof that goodness cannot win?
Is this proof that meme coins will always remain meme coins — just a PvP pump-and-dump game?
Has hope already vanished?
Is it now the time to give up?
Is this the moment when we should stop believing in anyone’s vision?
@VitalikButerin
🚨ARTHUR HAYES: WHY WE DUMPED $HYPE
• $500M of tokens unlock every month starting Nov 29
• Buybacks only cover a fraction ~17%
• Too much supply, not enough demand
Why BNB reach $1000?
Good question. No one knows for sure. Correlation does not prove causation. But here is a 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 US, but most countries in the world. Most countries now adopt a pro-crypto stance. This is a significant lift for the industry. Rising tide lifts all boats.
Earlier this year, memes made a come back 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 reduce MEV attacks.
At the same time, BNB Chain improved from 3 second block time to 1.5 seconds, and then again to 0.75 seconds.
Capacity also improved significantly.
Gas fees on BNB Chain was reduced by 10x overnight, making it one of the lowest fee blockchain.
Transaction volume further skyrocketed. BNB Chain becomes the highest transaction volume chain.
Binance Alpha removed the need for project tokens to go to smaller exchanges for listings first. Hence 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 come back 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) where shutdown, 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...
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 lawyers, 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 doing well. Pancake Swap handling huge volumes. Lista competing with Venus on DeFi lending. Four launching memes and RWAs. Aster's awesome TGE...
Multiple DAT companies 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.
Mostly importantly, I expect much more to come from this vibrant ecosystem. Keep building! 👍
@frankdegods Aster is not a BNB Chain exclusive perp dex. It supports multiple chains natively.
It also support hidden orders. Different from other perp dex designs.
Hey all,
Like many of you, I’ve been a trench warrior for almost as long as I’ve been in crypto.
In 2017, I invested in scam ICOs with fake teams and fake promises.
In 2021, I jumped into the 1000000% APY degen DeFi pools.
In 2023, I joined the memecoin mania after PEPE’s first rise to fame.
In fact, trading memecoins, or rather, trying to trade memecoins and failing, was the thing that I was consistently doing for about a year straight.
I tried everything: new launches, old launches, presales, scalping, swing trading. I had spreadsheets with thousands of rows of data, trying to make sense of all of it - when to enter, when to exit, what to buy, what to ignore, how to see if something is a honeypot or some other form of technical scam. Snipers, bundles, insider wallet tracking. Jumping from different chains (chains that you wouldn’t even know existed), DEXes, trading tools and bots, etc.
Trust me, there wasn’t anything that I hadn’t tried with or learned about memecoins. And it all cost me a great deal of money, time, and most importantly, mental wellbeing. Sleepless nights, anxiety, fearing that if I step out for a moment I would miss the “next big thing”. And by the way, all that while I already had a good source of income from my business. So all this was really just an obsessive, expensive hobby, and a harmful one.
So like any other day, exactly one year ago from today, I was doing the same thing as I always did: looking for opportunities. I remember it had gotten late for me, it was a Saturday night, and I was already in bed with my phone, ready to ape in a memecoin at a moment’s notice.
That’s when I saw Neiro being announced and a bunch of Neiro tokens getting launched. I’ve been in crypto for a very long time so I immediately saw the potential: you don’t get the actual next Doge every day. So I looked through the list of launches, and I made the simplest choice: I went for the one that had launched first, had the best liquidity and the highest volume. I looked into the TG, it was already a CTO. I bought at various prices, between 500k and 5m mcap or something, and went to bed because it was getting late.
Next morning came, I continued to monitor the situation. The token was in complete disarray, the CTO team wasn’t doing anything, they were either sleeping or had simply abandoned it all. I kept DCAing because to me Neiro was the sort of opportunity I hadn’t seen before.
I had bought so much that I reached out to join a whale group. That led me to get in touch with a guy who managing the CTO. This is still day 1 of the token by the way.
By that time, it was already Sunday noon and I was chilling on my couch, laptop in front of me, TV in the background. I had just started a Star Wars marathon. And as you all know, a Star Wars marathon begins with episode IV: A New Hope. Always.
After joining the whale group, and then the CTO group chat (I wasn’t still really a member of the CTO, they just invited me because I was a “whale”), I saw that they were doing all of the other bullshit things that every other failed memecoin project that I had invested in had done. They were managing the next Doge as if it was some shitcoin on pumpfun based on a celebrity tweet.
Neiro, the next Doge, the sister of Doge, the new Doge, deserved better. That’s what I thought. I wouldn’t let them kill that potential because of their lack of vision.
That’s when I took matters in my own hands and started leading the CTO. It was easy, as my conviction and hunger to make it right far outweighed theirs. The rest is history.
It was that fateful weekend, one year ago, that I tried the only thing that I hadn’t done yet, in all of my years in crypto: I built.
I had always taken most of crypto with some cynicism until that day. In some ways, I still do.
But staying in, committing to, and believing in Neiro was one of the most transformative experiences I’ve ever had.
It proved that doing good, having long term vision, prioritizing people, being honest and upfront with them, actually does work - even in the memecoin space.
That day, Neiro symbolized a New Hope for me. Then, we made it so that it meant the same for everybody in the space.
Thank you all for sticking together, for being loving and respectful, and above all for being good, honest people.
Happy 1 year anniversary to our community, and may we and our ideas live forever.
Your friend,
S
The @Jup_Studio creator notes are the perfect place to store recaps and accountability reporrs.
Will keep this updated to provide all $KIRBY holders a way to view what’s been happening, and keep the treasury accountable to the public 🫶
Community first. Value in, not out.
Wow, these shots look absolutely amazing 😍
We’ll be visiting Kobushi 🦛❣️ again at @UenoZooGardens. With the support of our community, we’re proud to stand behind Kobushi and we’ll continue to do so.
Kobushi has given us purpose and brought together a beautiful community. We’re forever grateful to Ueno Zoo, its staff, and everyone who lovingly cares for him. 🦛❣️