Crypto:
30188
Bitcoin:
$68.892
% 2.52
BTC Dominance:
%54.4
% 0.13
Market Cap:
$2.44 T
% 3.67
Fear & Greed:
74 / 100
Bitcoin:
$ 68.892
BTC Dominance:
% 54.4
Market Cap:
$2.44 T

BNB Chain’s Growth Fueled by Meme Token Popularity

Bnb Chain

At the beginning of the year, BNB, which is the abbreviation of Binance Smart Chain, was under regulatory scrutiny, but it still grew in the first quarter of 2024, with the revenue increasing by 70% to $66.8 million. Although the daily transactions decreased by 9% when compared with the fourth quarter of 2023, the number of active addresses significantly increased by 26%, from 1.0 million to 1.3 million. All the same, BNB is still growing and will have the best quarter of 2023. The change in value of BNB is one argument, but those tokens that BNB added this year, such as MVP or MAGA VP, also weigh a considerable part.

The MVP token, which was born this February, is linked with the enthusiasm of the Republican Party’s nomination of its next vice presidential nominee. MVP is a meme token and a part of the “PolitiFi narrative.” However, it has a strong backing from crypto traders and investors. The meme token is targeting being part of the top 100 cryptocurrency at a market cap of around $7 million.

This coin has experienced an amazing rise in just two months, and it is widely expected that it should reach $10 quite soon, according to many crypto experts. The daily trading volume of MVP grows by 9.34%. Finally, the CND token became one of the highest-rated tokens on Coinmarketcap, with a rate of $0.145899 USD, which is much higher than the actual rate of Hedera (HBAR), which is $0.114. The popularity of STRUMP, the second-best-known Trump token, is ahead of HBAR, without saying. MVPs are also participating in this.

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However, Binance has been the home of the meme coins for a long time, and early in April, the exchange even sent an invitation to the memecoin developers to join the 1 million dollar chain prize as part of the “meme innovation campaign.” Meme tokens make 27.27% of the market on the BNB chain, so the value of MVP is just starting to shine. Other than the BNB chain, the coin can be utilized on Ethereum, Solana, and BASE.

 

P.S This is not investment advice.

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