"Binance Coin emerges as the star of 'Uptober'"

Son Min

Summary

"Bitcoin(BTC) showed weakness in October while Binance Coin (BNB) strengthened thanks to a surge in meme coin trading and rising fees."
"They reported that increased network activity led the BNB chain to achieve the highest transaction fee revenue among blockchains for the week and second place in active addresses and transaction volume."
"Supported by expanded meme coin trading volume, BNB registered two new all-time highs and rose about 6%, peaking at 1370 dollars in mid-October."

While Bitcoin (BTC) continues its October weakness, Binance Coin (BNB) is dominating thanks to a surge in meme coin trading and rising fees.

On the 23rd (local time), Cointelegraph said, "BNB delivered the most notable performance amid Bitcoin's weakness in October," adding, "meme coin trading, new incentives, and the popularity of ASTER combined to make it the star of 'Uptober'."

They said a surge in network activity drove the price increase. According to on-chain analytics firm Nansen, the BNB chain recorded the highest transaction fee revenue among blockchains over the past week and ranked second in active addresses and transaction volume. BNB also set new all-time highs twice this month, rising by about 6%.

The meme coin trading sector is also growing. The market share of Solana-based platform Pump.fun, which had been experiencing spiral growth, fell from 93.3% to 56.2%, after which the BNB chain's 'Four.meme' overtook the market. With expanding meme coin trading volume, BNB peaked at 1370 dollars in mid-October.

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