In the past week, cryptocurrency traders have netted millions from small-cap memecoins on the BNB Chain, indicating a surge of speculative capital driving the current market cycle.
Notable among profitable investors is trader “0xd0a2,” who transformed an initial investment of $3,500 into $7.9 million, achieving a 2,260-fold return in just three days, as reported by blockchain intelligence platform Lookonchain.
Another trader, “hexiecs,” turned a $360,000 investment into over $5.5 million by investing in the newly launched “4” memecoin, which skyrocketed following a post from Binance co-founder and former CEO, Changpeng Zhao.
Additional speculators joined in on the action, including trader “brc20niubi,” who transformed a $730,000 investment into $5.4 million, yielding a 1,200-fold return on investment, according to Lookonchain.
This trading spree followed a transaction earlier in the week when the wallet “0x872” realized nearly $2 million in profits shortly after investing just $3,000 in the 4 token. The trader achieved a 650-fold return after Zhao reshared a post about the token to his 8.9 million X followers on October 1.
The 4 token emerged after a phishing attack on the BNB Chain, where the hacker allegedly made only $4,000 in profit before the community humorously turned the incident into a meme.
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Traders Discover BNB Chain’s Potential
The rise in trader activity on the blockchain has attracted attention from industry insiders, including Zhao, who described the trend as “BNB meme szn,” which he noted was unexpected.
Marwan Kawadri, DeFi lead and head of EMEA at BNB Chain, attributes the growing investor interest to the recognition of BNB Chain’s capabilities in digital asset trading.
“BNB Chain has consistently excelled in DeFi, but it is currently becoming the central hub for onchain trading,” amid record numbers of active addresses and decentralized exchange (DEX) trading volumes, Kawadri told Cointelegraph, adding:
“What you’re witnessing with ‘BNB meme szn’ is the market awakening to the reality that BNB Chain has evolved into the premier ecosystem for trading.”
New cryptocurrency trends may gain momentum more rapidly on the blockchain, as the “community is built around trading culture,” said Kawadri.
Related: ‘Diamond hand’ investor turns $1K into $1M as BNB tops $1,000
Successful traders classified as “smart money” by Nansen’s blockchain intelligence platform have been focusing on BNB-native memecoins.
The three most significant cryptocurrencies acquired by smart money traders were all BNB-native tokens, according to Nansen data, which details the 24-hour inflow of these tokens.
By Tuesday, over 100,000 onchain traders had invested in new BNB-native memecoins, with around 70% in profit at that time, according to blockchain data visualization platform Bubblemaps.
Among the 100,000 traders, one address earned over $10 million, 40 traders made over $1 million, while 900 traders each earned over $100,000 in profit.
Memecoins represent some of the riskiest digital assets. Lacking intrinsic value, these tokens depend entirely on social sentiment to gain traction.
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