CZ no longer tweets to support memes. Can BNB Chain become the "next Solana"?

Author: Penny, BlockBeats

In the world of cryptocurrency, hot events always rise and fall like waves. On February 13 and 14, a series of PVP frenzies erupted on the BNB Chain surrounding CZ's pet dog. On the afternoon of the 14th, CZ suddenly deleted a tweet mentioning the meme coin BROCCOLI and posted, "I can't tweet anymore. People always over-interpret my tweets. Anything mentioned casually will be attached with several layers of additional meanings." The tokens that had previously surged on the BNB Chain also began to plummet.

How did CZ lead such a meme frenzy on the BNB Chain, and did the BNB Chain withstand the test in the fierce PVP? Even after CZ deleted the tweet supporting the meme, does it still have the potential to continue shining?

Opportunities and Tests: MAL Renamed, Boosting CZ's Pet Dog's Popularity

At 0:12 on February 14, CZ's "real dog" Broccoli made its long-awaited debut, marking the start of a PVP battle centered on the BNB Chain.

Since CZ did not disclose the official token contract address, a large number of homogeneous tokens emerged simultaneously on the BNB Chain, flooding the new coin boards with the same images and names, showcasing its massive momentum and the intensity of the PVP.

In addition to numerous anonymous developers, the participation of Bounce Brand's official team continued to push the "Broccoli" hype to new heights. On the evening of the 13th, Bounce Brand officially launched a new token, initially named $MAL after CZ's Belgian Malinois dog. However, after CZ revealed his dog's real name, Bounce Brand renamed the already launched $MAL token to $BROCCOLI and provided the contract address on the BNB Chain.

Due to the overwhelming number of tokens in the market, it was difficult and too late to investigate the safety of each token. At this moment, the suddenly appearing token backed by Bounce Brand's official endorsement seemed much more authoritative and trustworthy. Well-known KOL "Calm Down, Calm Down, Calm Down (@hexiecs)" posted that he bought 1% of the $BROCCOLI launched by Bounce Bit, with the following reasons: 1. Bounce Bit team deployment, fair launch, unlike several other coins' developers with massive insider trading; 2. A genuine OG contract that was deployed before CZ announced it, and then renamed after CZ revealed the name; 3. Several coins from the Bounce Bit team have been listed on Binance, providing some imaginative space.

Compared to other tokens that may only stand out after experiencing intense PVP, the token released by Bounce Brand's official team acted like a striking buoy in this meme melee, quickly catching the attention of numerous investors. After the announcement of the token renaming, its market cap surged, reaching a peak of over $70 million within about 2 hours.

However, in the end, Bounce Brand's token did not become the "Broccoli leader." The popular project on the Binance Web3 wallet (which previously had the "CZ's Dog" project, now deleted) showed that as of the time of writing, the highest market cap among Broccoli series tokens was only $300 million. Despite high market participation, a leading project with a high consensus has yet to form.

Not So Smooth BNB Chain: Can It Bear the Huge Meme?

When tens of thousands of meme coins named Broccoli appeared on the BNB Chain, the BNB Chain did not provide users with a smooth service like the Solana chain. Countless investors experienced the embarrassment of being unable to buy or sell, network congestion, page freezes, getting caught in traps, and encountering numerous rug pulls… With Solana's success as a precedent, investors couldn't help but complain about the poor user experience of the BNB Chain.

To visually demonstrate the gap in infrastructure between the BNB Chain and the Solana chain, I selected several aspects for comparison: TPS and transaction volume, daily active users, token creation data, and security and compliance.

1. TPS and Transaction Volume

Solana is favored for its high throughput and low latency. The transaction volume can reach thousands or even tens of thousands per second, greatly enhancing the network's processing capacity. For a large number of meme coins, Solana can handle a massive volume of transactions in a short time without bottlenecks. Although BSC does not perform as highly as Solana, it still maintains a relatively high transaction speed, and its simpler structure allows for stable transaction processing. BSC improves its compatibility with the existing Ethereum ecosystem by using Ethereum-compatible smart contracts (EVM), which helps attract more developers.

In terms of transaction speed, according to blockchain explorer data, the real-time TPS on the Solana chain is 1,204, while the real-time TPS on the BNB Chain is 96.3. The peak TPS for BSC is about 300-400, while Solana's theoretical peak TPS is 65,500, but the daily TPS is generally over 1,000. The data comparison is clear; Solana's transaction speed potential far exceeds that of the BNB Chain. In terms of transaction volume, according to DefiLlama data, the 24-hour transaction volume on the Solana chain is $3.772 billion, while the BNB Chain's 24-hour transaction volume is $3.292 billion, making them roughly equivalent.

2. Daily Active Users

According to DefiLlama data, the 24-hour active users on the Solana chain are 4.67 million, while the BNB Chain has 1.73 million active users, making Solana's active user count nearly three times that of BNB Chain. A high number of active users indicates greater transaction demand and on-chain liquidity, which is crucial for the rapid trading and dissemination of meme coins. For a long time, the Solana chain has been the main venue for meme coin PVP, thus accumulating a large number of active users. Due to user inertia, even as BNB Chain's popularity gradually increases, users on the Solana chain are unlikely to migrate to the BNB Chain quickly.

3. Number of Tokens Created and Daily Token Creation

KOL DefiMochi (@defimochi) disclosed a statistic from Dune on Twitter, showing the token deployment situation on the four.meme and pump.fun platforms. The data indicates that a total of 31,162 tokens were created on the four.meme platform, with a daily creation of 3,947 tokens; on the pump.fun platform, a total of 7,605,186 tokens were created, with a daily creation of 54,368 tokens.

The daily token creation number reflects the platform's popularity and activity to some extent. A higher daily token creation volume means more developers or project teams are actively participating, hoping to attract user attention and investment through the launch of new tokens, thus reflecting a higher level of market interest in that platform. The birth of a large number of new tokens may also indicate strong market confidence in the platform, with the belief that launching new tokens here offers opportunities for greater returns and development space. The significant difference in daily token creation numbers between these two platforms clearly shows that the long-term accumulation and user inertia have made the pump.fun platform far more popular and active than the four.meme platform, but it also indicates that there is still great growth potential for the four.meme platform, allowing builders to imagine its future prospects more boldly.

Source: Dune; Top: Token creation data from the four.meme platform; Bottom: Token creation data from the pump.fun platform

4. Security and Compliance

Solana itself lacks a clear regulatory framework, and its decentralized and high-speed characteristics may raise compliance concerns among regulators, especially regarding projects related to the financial market. If meme coins on the Solana chain become market hotspots, they may attract regulatory attention, particularly in terms of preventing money laundering and capital flow. Recently, pump.fun has faced multiple lawsuits for issuing tokens without review, facing significant litigation and regulatory risks, which could become an uncertain factor affecting pump.fun's future development.

As for the BNB Chain, launched by Binance, its compliance issues may be influenced by regulatory pressure on Binance itself. As a globally recognized institution, Binance faces significant pressure under different regulatory environments in various countries and regions. Meme coin projects on the BNB Chain, especially those without transparent backgrounds or compliance guarantees, may encounter higher regulatory risks.

From all the above data, it is evident that the BNB Chain has certain gaps compared to the Solana chain, both in terms of infrastructure and user willingness to use it. This indicates that if the BNB Chain wants to become the next Solana chain and withstand the immense network pressure comparable to the $TRUMP launch, there are still many details that need to be optimized and updated. The BNB Chain recently released its strategic roadmap for 2025, addressing aspects such as transaction speed, gas fee transaction mechanisms, anti-MEV protection mechanisms, and smart wallet upgrades, aiming for a comprehensive upgrade from infrastructure to application ecology to significantly enhance network competitive advantages. Even if this round of meme heat cools down, if the BNB Chain can indeed upgrade comprehensively as expected, investors may look forward to the BNB Chain shining brightly in 2025, bringing more surprises to the market.