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BNB Chain Overtakes Solana in Memecoin Trading Volume

by Ouess
written by Ouess

The memecoin trading landscape has shifted dramatically, with BNB Chain now commanding 45% of all memecoin DEX volume – dethroning Solana from its top spot.

The New Memecoin Trading Leader

Recent data reveals a major shift in blockchain dominance:

  • BNB Chain: 45% market share (up from 25% in April)
  • Solana: 25% (down from 40% in April)
  • Ethereum: Steady at 20%

This marks a significant reversal from Solana’s 12-month reign as the go-to chain for memecoin traders.

What’s Driving BNB Chain’s Surge?

Two key factors explain the sudden growth:

  1. Binance Alpha Program: Boosts visibility and liquidity for selected memecoins
  2. Exchange advantage: Binance’s native chain benefits from direct exchange integration

However, not all projects succeed – Bondex (BDXN) collapsed post-listing due to massive profit-taking.

How Other Chains Are Responding

While BNB leads, other networks aren’t standing still:

  • Solana: Still producing viral hits (TRUMP coin +3,000% in 24h)
  • Cardano: Partnered with SNEK memecoin to boost activity
  • Ethereum: Holding steady with 20% share
  • Base/Others: Combined 10% of market

The Future of Memecoin Trading

Industry experts predict:
📈 Memecoin ETF by 2026 (Bloomberg’s Eric Balchunas)
🔥 Continued competition between chains for memecoin dominance
💡 Innovation in launch platforms (Pump.fun targeting $1B raise)

With trading volumes shifting monthly, this space remains one of crypto’s most dynamic sectors.

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DeFi

Hyperliquid Challenges Binance in Perp Trading Surge

by Ouess
written by Ouess

Hyperliquid is rapidly gaining ground in the world of perpetual futures trading. In May alone, the platform recorded over $248 billion in volume, marking an 843% year-over-year increase. This surge is positioning Hyperliquid as a serious competitor to Binance, the long-time leader in the space.

Perpetual Volume Hits New All-Time High

According to a report by The Block, Hyperliquid’s perpetual trading volume soared from $26.3 billion in May 2024 to a staggering $248 billion this year. That’s a 51.5% increase from April’s $187.5 billion, and a clear signal of massive market traction.

Currently, Hyperliquid’s monthly volume is 10.54% of Binance’s, a significant rise from April’s 9.76%. This continued growth shows the platform is no longer just a niche player—it’s shaping up as a serious contender.

What’s Fueling Hyperliquid’s Growth?

Much of the momentum is attributed to Hyperliquid’s strong user experience (UX) and its popular Season 2 points campaign, following the success of Season 1’s airdrop. The platform also blends the performance of centralized exchanges (CEX) with native crypto infrastructure, attracting a new wave of traders.

https://twitter.com/HyperliquidX/status/1926892983019839548?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1926892983019839548%7Ctwgr%5E40c77e68c0979dd8e550ad546dafc1987aaf1287%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.coinspeaker.com%2Fhyperliquid-breaking-binance-dominance-with-248-billion-perp-volume-in-may%2F

In fact, Hyperliquid’s revenue recently surpassed Ethereum, Solana, and BNB Chain, fueled by increased trading activity. A key moment came when crypto trader James Wynn placed massive leverage bets, which drove a spike in platform usage.

The platform’s Total Value Locked (TVL) doubled in just one month, hitting $1.46 billion, thanks in part to its partial liquidation mechanism introduced in March. This system helps reduce risk during periods of high market volatility.

HYPE Token Rides the Momentum

With trading volume surging, Hyperliquid’s native token HYPE has caught investor attention. In May, the token jumped by 75%, making it one of the month’s top-performing cryptocurrencies.

HYPE Price Source : TradingView

Open Interest (OI) on the platform also rose sharply. In just two days, it climbed from $8 billion to $9.2 billion, with Bitcoin derivatives contributing over $4.2 billion—more than 40% of the platform’s total OI.

HYPE OI Source : Coinglass

At its peak, HYPE reached an all-time high of $37.44 and saw its market cap surpass $12 billion. At the time of writing, HYPE trades at $33.65, down slightly by 2.81% in the past 24 hours, with a current market cap of $11.21 billion and $223.56 million in trading volume.

Will Hyperliquid Overtake Binance?

While it’s too early to say whether Hyperliquid can fully unseat Binance, the platform’s rapid growth and rising influence suggest a significant market shift. Its strong UX, innovative features, and aggressive campaigns continue to attract users and trading volume alike.

As HYPE’s price fluctuates, traders and analysts are watching closely to see whether increased volume translates into long-term dominance.

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DeFi

Bitcoin Futures DEX: CZ Proposes Dark Pool Model

by Ouess
written by Ouess

Changpeng Zhao (CZ), the former CEO of Binance, has ignited discussion in the crypto world again. On June 1, 2025, CZ posted on X, suggesting a dark pool-style Bitcoin futures DEX—a bold move aimed at protecting traders from front-running and liquidation risks.

The Problem with Transparent DEXs

Current decentralized exchanges (DEXs) operate with full transparency. Every order is visible in real-time, which poses serious risks in volatile markets—especially in perpetual futures trading.

CZ emphasized this flaw, stating,

https://twitter.com/cz_binance/status/1929246168833229243

Such transparency allows other traders to front-run large orders, creating slippage, worse prices, and often, forced liquidations.

Enter the Dark Pool Concept

To solve these issues, CZ proposed a dark pool DEX for Bitcoin futures. Unlike traditional DEXs, a dark pool would hide large orders using advanced privacy tools—like Zero-Knowledge Proofs (ZK).

This would shield traders from exposure, reduce manipulation, and improve the fairness of decentralized trading environments.

Did James Wynn’s Trades Inspire CZ?

CZ’s timing may not be coincidental. The crypto community quickly connected his post with recent trades by James Wynn, the so-called “Hyperliquid 40x whale.”

Wynn famously turned $4 million into $100 million—only to lose it all within days. His aggressive leverage strategy on Hyperliquid became a public spectacle. As Wynn’s losses mounted, savvy traders like 0x2258 bet against him, earning $17 million by taking the opposite side of his trades.

This episode exposed how open order books can be used for predatory trading. CZ’s dark pool DEX idea might be a direct response to this event.

Community Reaction: Strong Support

Many traders voiced support. One trader joked:

Another user called the idea “a billion-dollar concept,” imagining the DEX launching on BNB Chain with a powerful mix of ZK tech, perpetual contracts, and privacy features.

Even crypto analyst EnHeng noted,

What’s Next for Bitcoin Futures DEX Innovation?

CZ’s idea could reshape how we think about Bitcoin futures trading. As decentralized finance evolves, protecting users from manipulation will be key.

If executed well, a dark pool Bitcoin futures DEX could give institutional and retail traders alike a more secure, fair environment—without sacrificing decentralization.

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DeFi

Ethereum and Solana ETFs with Staking Filed by REX

by Ouess
written by Ouess

REX Shares has filed to launch Ethereum and Solana ETFs that include crypto staking, signaling a bold move in the evolving digital asset landscape. The filing, submitted to the U.S. Securities and Exchange Commission (SEC) on May 30, was marked “immediately effective,” hinting at a potential launch in the near future.

REX Aims to Launch Staking-Enabled ETFs

According to the filing, each ETF will directly hold Ethereum or Solana and stake a portion of the assets to earn on-chain rewards. At least 80% of each fund’s assets will be invested in the respective cryptocurrency, with 50% of that amount staked. Investors are expected to receive staking rewards as dividend income.

This approach could make REX the first to offer a spot Solana ETF, since current products only track Solana futures.

A New Legal Strategy to Speed Up Approval

REX used the Investment Company Act of 1940 (commonly known as the ’40 Act) to speed up the process. This strategic move helped bypass the slower approval route of the Securities Act of 1933.

Additionally, these ETFs will operate as C-corporations instead of traditional regulated investment companies (RICs). This less common structure allows for certain tax advantages, especially when dealing with staking income.

Experts Weigh In

Bloomberg ETF analysts have taken notice. Eric Balchunas highlighted the significance of this move and called it a key moment for the future of staking-based ETFs.

James Seyffart, also from Bloomberg, called the strategy a “clever legal workaround.” He noted that C-corp ETFs are rare, mostly used for master limited partnerships (MLPs). While this structure enables SEC approval, he added that it may not be the long-term solution.

SEC Clarifies Staking Regulations

The timing of the filing is notable. Just days earlier, the SEC issued fresh guidance on staking. It clarified that not all proof-of-stake activities count as securities under federal law. Features like early withdrawals or bundled services also don’t automatically change their regulatory status.

SEC Commissioner Hester Peirce confirmed this view, saying that some staking models fall outside the scope of securities law.

What This Means for Crypto ETFs

Industry leaders believe this regulatory clarity could trigger a wave of new ETF products. According to Nate Geraci, president of The ETF Store, investors may soon gain direct access to yield-generating crypto assets in a familiar investment format.

If successful, REX’s Ethereum and Solana ETFs could reshape the market by introducing staking rewards into mainstream portfolios.

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DeFi

PancakeSwap Leads DeFi, but CAKE Price Lags Behind

by Ouess
written by Ouess

While PancakeSwap dominates the DeFi space, its native token CAKE continues to trail behind in performance. Despite technical advancements and rising market share, the token’s price has not yet reflected the platform’s success.

PancakeSwap Gains Ground in the DeFi Market

PancakeSwap, a leading decentralized exchange (DEX) on the BNB Chain, is making major moves in DeFi. According to Dune Analytics, the platform held a 66.9% share of trading volume over the past week—far ahead of its rivals.

PancakeSwap’s monthly volume. Source: DefiLlama

Meanwhile, data from DefiLlama shows a monthly trading volume of $149 billion, beating Ethereum-based Uniswap, which posted $86 billion. PancakeSwap also collected over $120 million in fees in the past 30 days, ranking among the top 3 DeFi platforms and even surpassing Pump.fun.

Technical Upgrades Boost Performance

A recent upgrade from the PancakeSwap team improved the platform’s efficiency. On May 22, PancakeSwap announced that it had resolved issues with Total Value Locked (TVL) data delays. By deploying an internal indexer, the team fixed routing problems on Binance Wallet Swap and worked with external data providers to avoid future disruptions.

PancakeSwap’s fees. Source: DefiLlama

Additionally, the Infinity upgrade (formerly v4), launched in late April 2025, introduced:

  • Capital-efficient liquidity pools
  • Hooks for customization
  • Flexible fee structures

PancakeSwap’s TVL . Source: DefiLlama

These improvements made the platform more attractive for liquidity providers, especially on BNB Chain.

CAKE Token Price Still Lags Behind

Despite the platform’s growth, the CAKE token continues to struggle. CoinGecko reports that CAKE dropped 9% in the past 24 hours and gained only 1.6% over the last week. Trading around $2.53, it remains 93.9% below its all-time high.

CAKE Price Source Tradingview

Still, some traders see long-term potential. One user noted on X:

“As long as Binance Alpha grows, CAKE will eventually shine. It captures 30% of Alpha’s transaction fees and could become DeFi’s most profitable protocol.”

What’s Next for PancakeSwap and CAKE?

PancakeSwap has proven itself as a top DeFi platform through smart upgrades and market share dominance. However, CAKE’s price recovery still needs to catch up. If the platform’s momentum continues, a rebound could be on the horizon.

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DeFi

MetaMask Adds Solana Support to Web Wallet

by Ouess
written by Ouess

MetaMask, the world’s most popular crypto wallet, has finally rolled out Solana support on its browser extension. This marks the end of MetaMask’s long-standing exclusivity to Ethereum Virtual Machine (EVM) networks and opens the door to a broader multi-chain experience.

Solana Integration Now Live on MetaMask Web

As of May 27, users can now store and manage Solana (SOL) and Solana-based tokens directly through MetaMask’s web extension. While this update is currently limited to desktop browsers, mobile support is expected within weeks, according to the MetaMask team.

This change allows users to access Solana without switching to other wallets, streamlining the user experience significantly.

Non-EVM Expansion Strategy Underway

MetaMask confirmed that Solana is just the beginning. The company plans to support more non-EVM networks, aiming to eliminate the need for juggling multiple wallets. Their goal is clear: “One wallet, one interface, every network.”

With this shift, MetaMask is positioning itself as a true multi-chain wallet, giving users more flexibility and convenience in managing their crypto assets.

Competing with Phantom and Other Wallets

While this move is major, Phantom, the leading Solana-native wallet, still holds the upper hand for many users. Phantom already supports multiple blockchains, including Ethereum, Bitcoin, Base, and Polygon.

However, MetaMask hopes its robust security features will attract multi-chain users. The wallet includes:

  • Real-time transaction alerts
  • Malicious dApp detection
  • Simulated transactions before approval

MetaMask emphasizes that it has never faced a protocol-level hack on either its browser or mobile platforms.

Caution Remains: Social Engineering Still a Threat

Despite strong architecture, users should remain cautious. In 2023, some MetaMask users lost funds after phishing attacks via hacked Namecheap emails. The company urges users to remain vigilant and follow best practices for crypto security.

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DeFi

FIFA Collectibles Move to Avalanche Blockchain

by Ouess
written by Ouess

FIFA is taking a major step in the world of digital collectibles. The global football authority is launching a Layer-1 blockchain on Avalanche, designed to power its FIFA Collect platform. This move aims to redefine how fans own and interact with digital football memorabilia.

FIFA Builds Blockchain for Fans

Billions of football fans will soon manage their FIFA collectibles on a blockchain built just for them. FIFA has partnered with Avalanche and Modex to develop a new blockchain focused entirely on digital fan experiences.

This dedicated chain offers high performance, top-tier security, and room to scale—ensuring FIFA is ready for the future of Web3 fan engagement.

The FIFA Collect platform will be the first app to run on this new blockchain. It features NFT drops celebrating iconic football moments, star players, and top club collaborations.

Modex Powers the Tech Behind the Move

To make the transition seamless, Modex has been chosen as FIFA’s infrastructure partner and technical developer. Modex will handle blockchain development and marketplace upgrades, ensuring a smooth user experience for collectors.

This collaboration reflects the rising demand for sports digital assets. FIFA’s choice to build its own network on Avalanche gives the organization more flexibility and innovation power.

From Collectibles to Games: FIFA’s Web3 Expansion

FIFA has already dipped into Web3. During the 2022 World Cup, it teamed up with various blockchain startups to launch NFT collections and interactive games.

Now, FIFA is going further. It recently partnered with Mythical Games to launch FIFA Rivals, an upcoming mobile football game. Players will be able to buy, sell, and trade footballers as NFTs within an exclusive in-game marketplace.

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DeFi

Pudgy Penguins Token Soars as NFT Sales Surge

by Ouess
written by Ouess

The Pudgy Penguins token made a big comeback this week, hitting its highest level since February. This rally comes as the NFT market for the brand sees renewed activity.

Price Rally Boosted by High Trading Volume

PENGU, the token tied to the Pudgy Penguins ecosystem, surged to $0.010, marking a 167% gain from its recent monthly low. Fueling this move was a 500% jump in 24-hour trading volume, which hit $372 million. Its market capitalization has also climbed to $576 million.

Source : CryptoSlam

This rally aligns with the broader momentum in Solana-based meme coins, whose collective market cap recently exceeded $10 billion.

NFT Sales Spike Across the Board

NFT sales for Pudgy Penguins are also picking up steam. In just 24 hours, sales jumped 400% to $436,000, placing the collection fourth overall—just behind DMarket, Panini America, and Guild of Guardians Heroes.

Transaction volume surged as well. Total transactions rose 380% to 24, while the number of active buyers increased by 400% to 15.

However, the longer-term view remains mixed. Over the past month, total sales dropped 11%, landing at $6.76 million. Despite this, Pudgy Penguins has maintained a solid foundation with $620 million in cumulative NFT sales since launch.

Technical Outlook: Overbought but Bullish

Looking at the charts, PENGU has been riding a strong bullish trend. It recently touched $0.010, a level that matches the 78.6% Fibonacci retracement. The token also remains above the important resistance of $0.0075, which was the March 20 high and aligns with the 50% retracement level.

PENGU price Source : TradingView

Additionally, it’s holding strong above the 50-period moving average, reinforcing the bullish case.

However, traders should stay cautious. The Relative Strength Index (RSI) is over 80, and the Percentage Price Oscillator (PPO) has surged—both signs that the token is currently overbought.

What’s Next for PENGU?

A short-term pullback is possible. If so, support could be tested at $0.0075. If the price bounces from there and breaks above $0.010 again, it may target the year-to-date high of $0.0115.

Whether this rally can continue depends on sustained momentum in both the NFT space and meme coin market.

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DeFi

Trump NFT Gala: Limited Drop Teased

by Ouess
written by Ouess

The TRUMP meme coin community is abuzz with speculation after news of an exclusive gala dinner left more questions than answers. The “Trump Gala Dinner,” designed for the top 220 TRUMP coin holders, promises exclusivity—and possibly a limited-edition NFT.

TRUMP Gala Dinner Details: Exclusive But Uncertain

According to the TRUMP meme coin team, the dinner is set for May 22, 2025, at Trump National Golf Club in Washington. However, the team reserves the right to change the date or venue. That alone raises eyebrows about the event’s certainty.

https://twitter.com/GetTrumpMemes/status/1915079910357402015

Even more interestingly, the terms state Trump’s attendance is not guaranteed. If he skips the dinner—or if it’s canceled—eligible attendees will receive a limited edition Trump NFT instead.

This has sparked rumors that the event may double as a launchpad for a new Trump NFT collection.

A Look Back at Trump’s NFT Journey

Donald Trump’s NFT history is well-documented. He entered the crypto world in December 2022 with his Trump Digital Trading Cards, featuring 45,000 NFTs. The collection sold out quickly, raising around 648 ETH—nearly $785,000 at the time.

https://twitter.com/GetTrumpMemes/status/1915449553332879457

He followed up with Series 2, which also sold out fast. However, the market didn’t react kindly. The value of Series 1 plunged, with many criticizing the rapid release of new collections for diluting long-term value.

In 2025, he tried again with a Bitcoin-based NFT series featuring 160 digital collectibles. But the hype didn’t last. By April 2025, data from CryptoSlam showed trading volume had dropped to just $2,000, a steep fall from its earlier highs.

Will the TRUMP Gala NFT Spark a Revival?

If Trump uses the gala to unveil a new NFT line, it could reignite excitement in celebrity-backed digital collectibles. But if the event underdelivers—or if the NFT flops—it may deepen skepticism around meme coin and NFT hype cycles.

Regardless of outcome, the Trump NFT Gala is shaping up to be a key moment for crypto’s crossover with pop culture.

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DeFi

Content Coins on Base: Meme or Meaningful Movement?

by Ouess
written by Ouess

A new trend is gaining momentum in the crypto world—content coins on Base. These tokens are making waves as digital assets that blend culture, virality, and on-chain permanence. While some hail them as a fresh form of expression, others argue they’re just meme coins with better branding.

🤔 What Are Content Coins?

Content coins are digital tokens created to represent a specific piece of content. According to Jesse Pollak, founder of Base, “the coin is the content, and the content is the coin.”

They often launch on platforms like Zora, and their value isn’t tied to utility or fundamentals. Instead, it’s built on cultural significance, viral potential, or meme appeal.

In other words, they’re not backed by tech—they’re backed by attention.

💬 Critics Say: Just Another Meme Coin?

Despite the buzz, critics aren’t sold. Crypto user Kash (@kashdhanda) called the label “silly,” arguing that memecoins already function as a type of financial content.

Still, some Base insiders, like David Tso (@davidtsocy), defend the idea. He likens content coins to Instagram posts or TikToks—snippets of culture that hold value through engagement and virality.

📈 The Rise of “Base Is For Everyone”

The first major content coin to launch on Base was Base is for everyone. It exploded onto the scene with a peak market cap of $18 million just hours after release. However, the price soon dropped nearly 75%, though it has since stabilized around $9.8 million.

Source : Zora

Despite the dip, the coin remains active:

  • 🔹 Nearly 21,000 holders
  • 🔹 Over 29,000 transactions in 24 hours
  • 🔹 Daily trading volume close to $9 million

Base is using this momentum to advocate a larger vision: all content should live on-chain.

🌐 Why It Matters for Base

Base is positioning content coins as the next evolution of internet-native expression. Each coin acts like a cultural timestamp—a piece of digital heritage stored permanently on the blockchain.

That said, most content coins haven’t gained much traction. Few have surpassed the $100,000 market cap, and skepticism remains high.

Still, if content coins catch on, Base could outpace rivals like Solana by owning this narrative and attracting a unique crowd of creators and users.

🧩 Final Thoughts

Are content coins a genuine innovation or just meme coins in disguise? The answer depends on your view of value—whether it’s rooted in function or culture.

Either way, content coins on Base are forcing the crypto space to think differently about what it means to hold, trade, and create digital value.

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