- BNB surges past $626 as meme coin trading on Binance Smart Chain (BSC) intensifies.
- Mubarak drives market excitement, with a 71% gain in 24 hours and growing investor interest.
The cryptocurrency market has seen a notable shift, with Binance Smart Chain (BSC) taking center stage. Binance’s BNB has gained over 6.2% in the last 24 hours, currently trading at $626.12.
This surge comes as memecoin trading on the network surges to new heights, pushing BSC’s DEX volume past Solana’s. Solana has dominated the DEX market so far but recent developments saw traders flocking to the BNB Chain.
Memecoins led the way in this revolution, with Mubarak at the forefront. DEX trading on BSC reached a record $1.64 billion in the last 24 hours ahead of Solana.
BSC’s popularity is also apparent with its leading decentralized exchange, PancakeSwap, boasting the largest volume of trades on the market. Solana used to be the giant in the market but now has more competition as investors look for alternatives.
Binance’s ecosystem is further bolstered through the growing use of BSC. The network’s high speed transactions and low transaction charges are the factors that have led to its recent dominance.
While Solana struggles with network clogs and market doubt, BSC has emerged as the leading destination among traders looking to capitalize on high-growth prospects.
Mubarak Trading Volume Surges 125%, CZ Speculation Fuels Hype
The meme coin space remains one of the most active sections of the market, and Mubarak has been among the best performers.
The token has surged 71% within the past 24 hours on the strength of rumors that Binance founder Changpeng Zhao purchased $600 of the coin in recent times. Mubarak is trading at the current price of $0.09340, with its 24-hour trading volume of over $165.53 million, up over 124%.
mubarak 🌜 https://t.co/RFGoixxlCb
— CZ 🔶 BNB (@cz_binance) March 13, 2025
Sentiment among the investors has been strong, with the initial buyers already making hefty profits. A recent post from Lookonchain stated that one of the traders made more than $521,000 in profits from Mubarak. The growing popularity of meme coins on BSC is indicative of the speculative nature of the market.
Mubarak has also been in the limelight due to its listing on BingX. The increasing market presence of the token means that the meme coin season is far from over. With investor confidence continuing to build up, Mubarak is expected to see more price appreciation in the coming days.
Traders Eye $640 Resistance As BNB Targets New Highs
The bullish outlook on Binance’s BNB token remains intact. Its 24-hour trading volume is up 40.13% to $2.13 billion. Market observers have noted the breakout potential, with the technical indicators leaning in favor of BNB.
A leading price pattern has formed, with BNB making a double-bottom formation. With the pattern combining the strong fundamentals, the token is ready to continue its upward trajectory.
Traders now look to the $640 mark as the resistance point. Taking back this point would open the door for BNB to cross beyond its record high.
Adding to the upbeat mood is the recent news of zero trading fees on Binance Wallet through to September. This is going to drive trading on the platform even higher, further fueling the demand for BNB.
Meanwhile, Master Kenobi pointed out that BNB recovered from the 50-day EMA recently, mirroring the price movement of six months ago. He believes that if the current momentum is continued, it is a sign of the general uptrend of the crypto market.
Despite the bullish outlook, caution is still exercised among traders. Past trends have shown that forceful BNB upswings have occasionally been preceded by market corrections. However, with increasing usage and firm support levels, BNB is positioned to move higher.