BNB Surge Fuels Ecosystem Token Gains as Traders Favor Utility Over Memes
BNB’s breakout past $1,100 has reignited interest in BNB Chain native tokens, with PancakeSwap’s CAKE climbing nearly 30% in 24 hours and newcomer ASTER up 18%. Meme coins such as FLOKI and Simon’s Cat (CAT), however, have yet to show similar momentum, reflecting a market preference for tokens with tangible utility and revenue potential.
The surge is partly driven by renewed attention from Binance founder Changpeng Zhao, whose endorsements of BNB Chain projects have spotlighted the fifth-largest crypto asset by market capitalization. Investors often rotate into ecosystem projects when the base token rallies, typically favoring fee-generating protocols first, followed by higher-beta plays and memecoins.
CAKE’s price increase aligns with deeper liquidity in its core pools and narrower spreads across major pairs. ASTER’s rise signals demand for higher-risk exposure as BNB advances. Meanwhile, BNB reclaimed the $1,100 level after multiple attempts and maintained it through U.S. trading hours, suggesting that spot demand rather than leveraged positions is driving the move.
Futures tied to BNB recorded over $97 million in liquidations in the past 24 hours, second only to Ether-linked contracts, according to Coinglass. Despite BNB’s strong performance, total value locked (TVL) across BNB Chain increased only 2%, indicating that long-term capital has yet to flow significantly into the ecosystem. PancakeSwap collected around $1.3 million in trading fees over the last 24 hours, substantially below July’s daily average of over $5 million.
