BNB Chain Surpasses Solana in Daily Fees, Driven by PancakeSwap and Memecoin Boom

BNB Chain, associated with Binance, topped Solana in daily fee generation on February 13, recording $5.8 million in fees, per Nansen data. This marked the first time since October 31, 2024, that a blockchain outside Ethereum or Solana led in fees, exceeding Solana's $3.3 million and outpacing Ethereum by over fivefold.

The surge was primarily driven by PancakeSwap, a major DEX on BNB Chain, which led all DEXs in trading volume that day. Additionally, BNB Chain’s daily active addresses surpassed Tron and Ethereum, ranking second overall, though its nearly 6 million weekly active addresses still trailed Solana’s 35.8 million.

Memecoin speculation played a key role, notably with the "Test" (TST) token, launched on BNB Chain’s memecoin platform Four.Meme. TST hit a $500 million market cap before crashing, highlighting the memecoin trading frenzy. Despite their volatility, memecoins remain a dominant trend, with figures like former U.S. President Donald Trump endorsing similar tokens. BNB Chain plans to bolster the memecoin ecosystem as part of its 2025 roadmap.

Amid this activity, BNB, the chain’s native token, surged 15% to $666.73, surpassing Solana’s SOL to become the fifth-largest cryptocurrency by market cap. The milestone reinforces BNB Chain’s expanding role in DeFi and memecoin markets, marking its ascent in the evolving crypto space.