TL;DR
- BNB reached new highs driven by the memecoin boom, Aster activity, and sustained growth in fees and transactions.
- BNB Chain led in key metrics: 100,000 traders bought memecoins, the network topped total fees and ranked second in active addresses and transactions.
- The token rose 5.3% following CZ’s pardon, surpassing $1,133.
BNB turns a challenging october into a historic month for its network. While Bitcoin is experiencing one of its worst Octobers in over a decade, Binance’s token has hit record highs, fueled by the memecoin boom, activity on Aster, and steady growth in fees and transactions.
BNB’s Uptober
The surge began in the first days of the month, as BNB Chain saw massive increases in memecoin trading. Platforms like Four.meme outperformed traditional competitors such as Solana’s Pump.fun in token launches and daily revenue generation. During the first week of October, 100,000 traders bought memecoins on the network, with around 70% making profits. This boosted the network’s metrics: BNB Chain ranked first in total fees and second in active addresses and transactions, even as overall on-chain activity across the market declined.
On October 10, the market faced a historic liquidation event that wiped out $19 billion in positions and cut total market capitalization by $450 billion. Despite this, the token held steady, and Binance distributed $283 million in compensation for technical failures, including temporary price oracle issues affecting assets like USDe and collaterals such as wBETH and BNSOL.
Aster’s Dominance
Aster, BNB Chain’s perpetual DEX, also set records: on October 6, it led all decentralized exchanges with $41.78 billion in 24-hour trading volume, before being temporarily removed from DefiLlama due to concerns about the reliability of its metrics. Despite this, the network maintained steady growth.
BNB Chain also set a new on-chain activity record: on October 9, 5 trillion gas units were used in a single day, driven by a reduction in the standard gas price to 0.05 Gwei. Its TVL rose 9% in 24 hours, reaching $9.29 billion.
Presidential Pardon for CZ
More recently, news of U.S. President Donald Trump’s pardon of Binance founder Changpeng “CZ” Zhao boosted market confidence, pushing BNB up 5.3% to $1,133. While the pardon opens the door for CZ’s potential return to Binance, the main impact at this moment is reflected in the network’s strength and resilience in the face of market challenges.
BNB has turned a difficult October for the crypto market into one of its strongest months of the year, demonstrating remarkable resilience and growth potential
