BitMart Research—Structural Shift in the Meme Market: Solana’s Decline and BSC’s Capital Reshaping

BitMart Analysis, the analysis arm of BitMart Exchange, has launched a well timed report on the structural shift occurring throughout the meme coin market, highlighting the latest surge of Chinese language meme tradition on BNB Chain and the corresponding decline of exercise on Solana. Sparked by a viral put up from Binance co-founder He Yi, the meme coin 币安人生 (Binance Life) triggered a wave of high-performance tokens on BSC—propelling buying and selling volumes to yearly highs and drawing over 100,000 new merchants. In the meantime, Solana’s meme economic system, as soon as dominant by platforms like Pump.enjoyable, is experiencing capital outflows and declining issuance. As liquidation-driven volatility gripped the broader market, this report examines how cultural momentum, ecosystem-level incubation, and Binance’s rising affect are reshaping meme token flows and signaling an influence shift from Solana to BSC.

1. The Rise of Chinese language Memes: Binance Sparks the “Binance Life” Phenomenon
 In early October 2025, a put up by Binance co-founder He Yi — “Want you a Binance Life” — unexpectedly ignited a wave of creativity within the Chinese language crypto neighborhood. This led to the viral success of the meme coin 币安人生 (Binance Life) , which skyrocketed 6,000x in simply days, reaching a $500M market cap. In accordance with DeFiLlama, BNB Chain DEX buying and selling quantity surged to $6.05B with over 100,000 new merchants becoming a member of.

Following Binance-related meme cash, a number of widespread Chinese language memes shortly emerged on BSC, together with:

• PALU – Impressed by Binance interns, retweeted by CZ and Binance.

• 4 – Based mostly on CZ’s iconic “4” meme.

• 修仙 (Cultivation)  – Derived from He Yi’s essay on “entrepreneurial cultivation.”

• 哈基米（Hakimi） – A viral cat-song meme, later listed on Binance Alpha.

• 客服小何 (Help Xiao He) – A He Yi parody meme, additionally listed on Binance Alpha.

To additional amplify the development, Binance launched the Meme Rush platform with Fourmeme, making a closed-loop incubation-to-launch mechanism that boosted BSC exercise to yearly highs. On October 21, Base’s Limitless prediction market even opened a “Will Binance Life listing on Binance Spot?” market — 76% voted “sure.” CZ later acknowledged the dialogue, and that very same night time Binance Life was listed on Binance Futures. Binance additionally launched a devoted Chinese language Meme part, confirming that the Chinese language meme wave continues to be rising.

2. Meme Market Cooldown Amid Volatility: Excessive Deleveraging Triggers Structural Pullback

On October 11, 2025, U.S. equities and main threat belongings  together with Bitcoin plunged concurrently, triggering a large wave of compelled liquidations throughout the crypto market. In accordance with experiences, round 1.6 million merchants had been liquidated, with complete positions value $19.3 billion, marking a historic report.

On this excessive deleveraging atmosphere, altcoins skilled a collapse-like downturn, with many tokens falling 80–90% inside a single day. On-chain liquidity quickly tightened as capital outflows surged, transaction congestion worsened, and promoting stress intensified.

Information from CoinMarketCap exhibits that on October 11, the meme coin sector’s complete market capitalization plunged from $72 billion to $44 billion, a virtually 40% drop — the sharpest decline of the 12 months. The next day, October 12, the market noticed a slight rebound to $53 billion, returning to ranges not seen since July, earlier than the Solana-driven meme rally that fueled the sector’s summer time rebound.

For the previous 4 months, the meme sector’s complete worth had remained above $60 billion, supported by sustained retail enthusiasm pushed by Solana and BNB Chain ecosystems. Nonetheless, this latest crash clearly marks a turning level in market sentiment, signaling the start of a structural cooldown throughout the meme market.

3. Strain on the Solana Ecosystem: The Decline of Pump.enjoyable and Capital Outflow to BSC

Since August, the variety of new tokens launched on Solana has dropped sharply. In accordance with Solscan knowledge, the variety of new tokens created on Solana fell from a median of 35,000–40,000 to fifteen,000–20,000 between August and mid-October, partly because of the general cooling of the crypto market.

Furthermore, as proven in comparative knowledge, 4.meme’s market share surged to 83.9%, with its profitability peaking at 87.8%, considerably outperforming Pump.enjoyable. This means that since October, the Chinese language meme growth on BSC has diverted a considerable quantity of capital away from Solana.

On-chain knowledge additional helps this shift — on October 8, BNB Chain DEX buying and selling quantity soared to roughly $6.05 billion, marking the second-highest every day quantity of the 12 months. This spike underscores the surging speculative exercise throughout the Binance ecosystem, as a substantial portion of liquidity beforehand lively on Solana has now migrated to BSC looking for increased short-term returns.

4. Conclusion

Total, whereas the issuance quantity of meme tokens on Solana stays sizable, each market exercise and neighborhood engagement have cooled considerably. In contrast with the earlier quarter, the complete meme sector has skilled a noticeable decline in capital inflows and social momentum. In distinction, BSC is quickly rising as a brand new development hub, pushed by Binance’s sturdy ecosystem affect and the explosive reputation of Chinese language meme tradition. Capital and visitors are shifting from Solana towards the BNB Chain, as buyers more and more deal with new meme tasks launched throughout the Binance ecosystem. In the meantime, Solana’s meme panorama seems to be in a consolidation section, awaiting a brand new narrative or catalyst to reignite neighborhood enthusiasm.

Curiously, each Solana and Base, two main meme-oriented blockchains, have not too long ago seen an increase in Chinese language-themed memes. The official Solana account humorously claimed its Chinese language identify to be “索拉拉” (Suolala), sparking the creation of a meme token beneath the identical identify. On Base, the meme token Base人生 (Base Life) surpassed a $10 million market cap, alongside a number of rising small-cap Chinese language meme cash. From 币安人生 (Binance Life) to 修仙 (Cultivation) and 客服小何 (Help Xiao He), the rising wave of culturally impressed tasks exhibits that Chinese language memes are gaining a agency foothold within the international crypto market. With BSC’s ecosystem persevering with to increase and extra creators collaborating, it’s doubtless {that a} new technology of Chinese language meme tokens—impressed by native tradition, public figures, and viral web developments—will proceed to emerge.

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