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WE-Launch
Market Maintains Sideways Movement, BNB Chain Meme Trend Emerges
Original Article Title: "Market Maintains Volatile Trend, BNB Chain Meme Trend Emerges | Frontier Lab Crypto Market Weekly Report"
Original Source: Frontier Lab
Market Overview
Overall Market Summary
This week, the cryptocurrency market experienced a trending uptrend within a volatile range, with the market sentiment index rising from 8% to 11%. The stablecoin market value continued to grow (USDT reaching $143.7 billion, USDC reaching $59.2 billion, with increases of 0.18% and 1.39% respectively), indicating that institutional funds continued to enter the market during the downturn, maintaining the growth trend of the past three weeks. The rise was primarily driven by US funds (USDC), showing that American investors, after experiencing the recent weeks of decline, continued their high-speed entry from last week. The mid-week rebound in the market was mainly due to the limited-term 30-day ceasefire agreement in the Russia-Ukraine war, as well as the Federal Reserve maintaining the current interest rate as expected, reducing the scale of QT from $250 billion per month to $50 billion per month, and stating that the US economy is not in recession. This helped to alleviate market sentiment to some extent, resulting in a generally strong performance of Altcoins compared to the benchmark index.
Next Week Predictions
Bullish Targets: UNI, BNB, EUL
UNI: $1.655 Billion Ecosystem Fund Allocation and DeFi Leadership Reshaping
Empowering Strategic Funds
The Uniswap community, through a historically large $1.655 billion funding, provided ample financial support for Uniswap v4 and Unichain, with $45 million allocated to liquidity incentives and $95.4 million for developer ecosystem development. This decisive investment will significantly enhance the protocol's competitiveness and lay a solid foundation for token value creation.
Innovating the Tokenomics
The potential implementation of the "Fee Switch" mechanism will completely transform the UNI tokenomics, allowing token holders to directly share protocol revenue. Unichain has also committed to distributing 65% of on-chain net revenue to validators and stakers, enhancing the income incentives to attract more long-term investors. It's worth noting that Uniswap's annual revenue has already exceeded $90 million, and if 65% of it is distributed, validators and stakers could receive $58.5 million in profits.
Technological Innovation and Ecosystem Expansion
Uniswap v4 has significantly lowered the development barrier through innovative "hook" systems, attracting over 1000 developers to create over 150 prototypes. Unichain, optimized for DeFi, will provide efficient infrastructure for the ecosystem. This technological advantage will solidify Uniswap's core position in the DeFi space.
Governance Structure Optimization
Uniswap is actively driving towards governance decentralization, planning to introduce a "Core Contributor" program and legal entity to reduce reliance on a single entity. The protocol commits to enhancing transparency, establishing a representative council for oversight, and fostering a more sustainable development model and stronger community cohesion.
BNB: The Rise of the BNB Chain Ecosystem and Value Reframing
On-chain Data Continual Growth
Within a week, BSC chain TVL has grown by 12.95%, reaching a scale of $54.48 billion, demonstrating substantial traffic growth and value accumulation on the BNB Chain driven by the Meme trend.
Successful Marketing Strategy
Binance cleverly tapped into the UAE sovereign wealth fund investment opportunity, crafted a Middle Eastern cultural Meme narrative, had the executive team engage in community interactions, and established an "official meme creation-community adoption-token monetization" model, converting personal influence into market momentum.
PancakeSwap Trading Volume
Recently, PancakeSwap's trading volume has seen a significant increase, peaking at a daily trading volume of $31.5 billion. As the largest DEX on the BNB Chain, PancakeSwap reflects the ecosystem's status on the BNB Chain.
Technological and Policy Innovation
Introduced zero-fee transactions, an "anti-front running compensation" mechanism, and an Alpha section as technological innovations, simplifying the BEP20 token issuance process. This establishes a dual-drive model of "exchange + public chain," creating a low barrier, high liquidity Meme ecosystem for the BNB Chain.
Strategic Transformation Path
Binance is currently undergoing a strategic transformation from an exchange token to a Web3 infrastructure value capture tool. Learning from Solana's experience, it is guiding Meme users to DeFi projects through high APY strategies to achieve user value retention.
Regulatory Environment Improvement
With the SEC dropping its appeal against Ripple, the possibility of Binance reaching a final settlement with the SEC has increased. The reduced regulatory risk has provided a clearer development outlook for BNB.
Pancakeswap Daily Trading Volume
EUL: TVL Hits All-Time High, Cross-Chain Expansion, and 54% High Yield Drive DeFi Growth
Rapid TVL Growth
This week, Euler saw a TVL growth rate of 30.56%, reaching $5.01 billion, setting a new record high. This growth was mainly due to ecosystem expansion, improved capital utilization, and optimized yield strategies.
Offering High-Yield Products
Euler provides users with high-yield lending pools, with the stablecoin pool sUSDC/USDC offering a maximum net asset yield of up to 54.77%. The depth continues to increase, surpassing $31 million, making it very attractive to stablecoin holders.
Strategic Ecosystem Expansion and Partnerships
Euler is actively collaborating with other ecosystems. This week, Euler announced a partnership with Berachain and launched a $150,000 BERA token reward program. On the second day of entering the Berachain ecosystem, the TVL increased by $25 million.
Providing User Incentive Mechanisms
Euler continues to introduce incentive programs, including the latest $300,000 incentive measure to encourage users to provide WETH or USDC to earn rEUL. These incentive mechanisms effectively attract new users, retain existing users, and enhance platform liquidity, creating a virtuous cycle of ecosystem growth.
Bearish Targets: ALT, NFP, EDU
ALT: Altlayer Faces Cooling Market and Large Token Unlock
Market Sentiment Cooling Off
Altlayer, as a RaaS project focused on modularity and the Layer 2 track, is facing a harsh market environment. During this bull market cycle, the overall performance of the Ethereum ecosystem fell below expectations, especially with Layer 2 projects being viewed negatively by the market in their role as "Ethereum vampires." This shift in market sentiment has caused the modularity and Layer 2 track to lose investor attention and funds inflow, leading to a significant decrease in popularity for projects including Altlayer, leaving them in a state of neglect.
ALT Token Unlock Sell Pressure
Altlayer is set to unlock 195 million ALT tokens on March 25, accounting for 1.95% of the total locked amount. This unlock is sizable, and the recipients are primarily early investment institutions and project team members. Against the backdrop of waning project interest, these investment institutions are likely to sell off tokens to recoup funds, thereby exerting significant selling pressure on the ALT token price.
NFP: NFPrompt Track Losing Heat, Facing Large Unlock Next Week
NFT and AI Tracks Falling Out of Favor
NFPrompt, as a platform integrating AI and NFT art creation, is facing a challenging market environment. Since the end of the previous bull market, the NFT track has been in a slump, especially being overshadowed by the Meme coin craze in this market cycle. At the same time, the recent overall market downturn has rapidly cooled off the AI track, with most AI-related projects experiencing over a 50% decline. This dual cooling of the NFT and AI tracks has significantly reduced NFPrompt's popularity in the current market, making it difficult to attract investor attention.
Large Token Unlock Could Exacerbate Sell-off Risk
NFPrompt is scheduled to unlock 14.51 million NFP tokens on March 26, representing 1.45% of the total locked amount. Considering NFP's current circulation rate of only 41%, this unlock size is relatively large, with recipients mainly being project team members. Against the backdrop of a noticeable decline in project popularity, the project team is likely to sell off tokens to realize project profits, thereby exerting significant selling pressure on the NFP token price and further exacerbating the project's market woes.
EDU: Stratis Market Sentiment Weak, Token Unlocking May Trigger Selling Pressure
Open Campus is a decentralized education solution that has not received market attention since its launch. Its token, EDU, will have 19.07 million tokens unlocked on March 28, accounting for 1.91% of the total locked amount. This unlocking is relatively large, and considering that the project's current circulation rate is 47%, coupled with the fact that the main recipients of this unlocking are early investment institutions, without the project regaining market attention, they are likely to sell off. This is expected to have a certain impact on EDU's price.
Market Sentiment Index Analysis
The market sentiment index has risen from 8% last week to 11%, with little overall change, still fluctuating above the extreme fear line.
Hot Topic Track
BNB Chain Revives Meme Craze on Chain
Current Situation
In the first quarter of 2025, the meme ecosystem of BNB Chain showed an explosive growth trend, from the initial test token TST in an educational video to CZ's "unofficial but tacit" approval. Within 3 days, the market value surged 100 times to $5 billion. This was called the "TST Token Experiment," which began to show an explosive trend. More recently, after Binance received a $2 billion investment from the UAE sovereign fund MGX, CZ's post with the term Mubarak triggered a wave of BNB Chain memes. Additionally, with Binance launching the Binance Wallet with zero transaction fees, "Anti-Sandwich Full Compensation + 24-hour Protection" policy, and adding an Alpha section to the main Binance site for easy user purchases, the BNB Chain meme wave reached its peak. Almost overnight, the entire network's attention and funds all converged on BNB Chain.
Specific Analysis
Reasons for the BNB Chain Meme Craze
BNB Chain had been lukewarm before 2025, lagging behind Ethereum in the DeFi field and Solana in the meme field. Therefore, for BNB Chain to break through, it had to choose a direction for breakthrough. Given the current trend in the crypto industry, which is primarily focused on the attention economy, BNB Chain chose the meme track for its breakthrough.
Marketing Reasons
Binance has successfully captured market attention and funds into the BNB Chain through a series of marketing strategies and the wealth effect.
Firstly, Binance seized the opportunity of the UAE sovereign fund MGX investing $2 billion in Binance and actively built a Middle Eastern cultural narrative, transforming Arabic elements such as "mubarak" and "Mashallah" into meme tokens. CZ even changed his profile picture to a Muslim robe image, creating a new cultural symbol system and investment logic.
Secondly, the Binance executive team actively participated in meme hype, with CZ personally buying mubarak and TST tokens and announcing it on Twitter. He Yi, on the other hand, interacted with users in a self-deprecating humorous manner and even joined meme coin WeChat groups to discuss projects, creating a sense of celebrity in the crypto world and making users feel like they were investing alongside these figures, successfully converting personal influence into market momentum.
Thirdly, Binance designed a pattern of "official meme initiation-community meme adoption-token monetization," stimulating user engagement and achieving broader dissemination through whitespace marketing and community remix activities.
Lastly, through executive self-deprecation, meme playing, and deep interaction, Binance enhanced user inclusivity and community belonging. These strategies drove the formation of a Binance-centered community culture and provided sustained momentum for the meme trend.
Technical and Policy Reasons
Building on Solana's success, Binance introduced a series of innovative technologies and policies to create a low-barrier, high-liquidity meme token ecosystem on the BNB Chain.
Firstly, it implemented a zero-fee strategy, sub-second block confirmations, and an "anti-sandwich attack" mechanism, significantly reducing user transaction costs and enhancing security to create a user-friendly trading environment.
Secondly, Binance bridged on-chain and off-chain liquidity by introducing the Alpha section for innovations and direct fund purchases on the main platform.
Thirdly, by simplifying the BEP20 token issuance process, providing detailed development tutorials, and establishing the "BNB Goodwill Alliance," Binance effectively lowered the development threshold, encouraging developers to respond quickly to market demand and achieve rapid token launches.
Finally, leveraging Binance's massive user base and traffic advantage, we have further built an ecological closed loop by attracting liquidity and fund inflow to the BNB ecosystem, achieving the collaborative development of the exchange and public chain.
Pros and Cons of BNB Chain Compared to Solana
BNB Chain aims to make a mark in the Meme field, with Solana as its most direct competitor. As the initiator of the Meme trend, Solana is an unavoidable giant in the Meme field, and the market and users will compare BNB Chain to Solana.
Pros
First, BNB Chain, relying on Binance, has a "exchange + public chain" mutual flow model that provides sufficient liquidity for BNB Chain, combined with mechanisms such as the Alpha sector to build an ecological closed loop. Second, the implementation of zero fees, fast confirmations, and features like "Anti-MEV" have optimized the user's trading experience, reducing entry barriers. Third, Binance executives can enhance community cohesion and traffic attraction through interactive methods. Finally, BNB Chain attracts more developers by simplifying the BEP20 token issuance process and supporting plans.
Cons
First, Solana's chain performance is very superior, processing 65,000 transactions per second and demonstrating its efficient on-chain transaction processing capabilities in events like TRUMP. In terms of performance, BNB Chain cannot compare to Solana.
Second, Solana has a more advanced programming model and richer development tools, with significant technological innovation that is superior to the more simplified technology used by BNB Chain.
Third, because Solana is a U.S.-based chain, it has more recognition in the United States, where the main users in the current Crypto industry are U.S. users.
Lastly, the security flaw in BNB Chain can be seen through the Four.Meme event. Solana's Pump.fun has undergone more market tests without a security crisis, making it easier to gain trust from on-chain users.
Future Development Direction of BNB Chain
The representative of the Meme Wave is Solana, which, influenced by the Meme Wave, has a thriving on-chain ecosystem. However, it failed to effectively convert Meme traffic, so the ecosystem was greatly impacted when the Meme Wave receded. Because no matter how significant the Meme Wave is, it will eventually recede, the future development strategy of the BNB Chain should focus on Meme as a growth point for traffic, converting Meme traffic into the value precipitation of AI+DeFi. This involves building user conversion, technology conversion, and capital conversion. After attracting new users through Meme, it is essential to effectively guide them into AI data platforms such as Alaya and DeFi protocols like PancakeSwap, ensuring a higher retention of high-value users. Furthermore, the BNB Chain should expand its efficient transaction infrastructure designed for Meme tokens to more complex financial scenarios, such as derivatives trading.
The BNB Chain should create a complete value loop ecosystem of "Meme Traffic Diversion - Supporting Infrastructure - Enhanced Business Applications," thus achieving a strategic upgrade from an exchange-affiliated public chain to a globally leading Web3 infrastructure.
Market Theme Overview
Data Source: SoSoValue
According to weekly return rate statistics, the Sociafi track performed the best, while the Layer2 track performed the worst.
· Sociafi Track: In the Sociafi track, TON and CHZ account for a significant proportion, totaling 95.31%. Their respective growth rates this week were 29.51% and 6.21%. TON, with the highest proportion and the highest growth rate, contributed to the best performance of the Sociafi track.
· Layer2 Track: MNT, POL, TIA, ARB, OP hold a significant share in the Layer2 track, totaling 72.04%. Their weekly price changes were 7.12%, -1.67%, -6.36%, 6.98%, and 3.31% respectively, resulting in the poorest overall performance of the Layer2 track.
Next Week's Crypto Major Events Preview
Monday (March 24) GMove Cooper: Movement's APAC Tour 2025 - Chengdu Stop
Tuesday (March 25) Mining Disrupt Conference & Expo 2025
Friday (March 28) US February Core PCE Price Index YoY
Summary
In summary, the cryptocurrency market was overall in a volatile upward trend this week. The market sentiment index rose from 8% to 11%, still in the extreme fear zone but showing signs of moderation. The continued growth of stablecoin market cap, especially the 1.39% increase in USDC, indicates that US investors are consistently entering the market during the downturn, providing solid support. Positive news such as the Russia-Ukraine 30-day ceasefire agreement and the Fed keeping interest rates unchanged while significantly reducing the QT scale were the main catalysts for this week's market rebound, leading to a stronger performance of most Altcoins compared to the benchmark index.
In terms of track performance, SocialFi led the market due to the strong performance of TON, with a weekly return rate of 27.96%; the DeFi track showed impressive performance with a 10.83% weekly return rate, reflecting a trend of value resurgence. Meanwhile, the BNB Chain ecosystem became the highlight of the week, triggering a new wave of meme frenzy through precise marketing and technical policy innovation.
Next week, investors should remain cautious of projects facing large unlockings such as ALT, NFP, and EDU, which may bring selling pressure risks. They should also pay attention to potential opportunities for fundamental improvements in UNI, BNB, and EUL. As market sentiment gradually recovers and stablecoin funds continue to flow in, the market may see more positive factors, but caution should still be exercised. It is essential to closely monitor changes in macroeconomic data and geopolitical situations to develop a more prudent investment strategy.
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Never Underestimate the Significance of the US Stablecoin 'Infrastructure Bill'
If the US stablecoin bill, the "GENIUS Act," passes smoothly this time, its significance will be tremendous. I even think it's significant enough to enter the top five in Crypto history.
Although abbreviated as the GENIUS Act, which translates directly to the Genius Act, it is actually the Guiding and Establishing National Innovation for U.S. Stablecoins, which translates to "Guiding and Establishing National Innovation for US Dollar Stablecoins."
The proposal is lengthy, with several key points summarized for everyone:
· Mandatory 1:1 Full Asset Backing: Assets include cash, demand deposits, and short-term US Treasuries. At the same time, misappropriation and rehypothecation are strictly prohibited.
· High-Frequency Disclosure: Reserve reports must be published at least monthly, introducing external audits.
· Licensing Requirement: Once the circulating market cap of the issuer's stablecoin exceeds $100 billion, it must transition into the federal regulatory system within a specified timeframe, adopting banking-grade regulation.
· Introduction of Custody: The custodian of the stablecoin and its reserve assets must be a regulated qualified financial institution.
· Clear Definition as a Payment Medium: The bill explicitly defines stablecoin as a new type of payment medium, primarily regulated by the banking regulatory system, rather than restricted by the securities or commodities regulatory system.
· Embracing Existing Stablecoins: A maximum 18-month grace period after the bill's enactment, aimed at encouraging existing stablecoin issuers (such as USDT, USDC, etc.) to promptly obtain licenses or become compliant.
After finishing the main content, let's talk about the significance of this matter with an excited heart.
Over the years, when others asked, "After working in the Crypto industry for 16 years, what application have you created?"
In the future, you can confidently tell others—Stablecoins.
Some people have held opposing views. In the past, people's impression of stablecoins was that they were an opaque black box. Every few months, there would be FUD — whether Tether's assets were frozen or Circle had a significant black hole deficit.
In fact, if you think about it, Tether easily rakes in billions of dollars a year just from the interest on those underlying government bonds. Circle, slightly less, also made a $1.7 billion profit last year.
They basically made money while standing there. From a motivational standpoint, they have no malicious intentions. In fact, they are the most eager for compliance.
Now, this opaque black box will become a transparent white box.
In the past, the only complaint was that Tether's funds might have been frozen by the United States. Now, they will be directly placed into U.S. compliant custodial institutions, with high-frequency disclosures, so you can rest assured.
【No need to worry about a rug pull】 is such a huge advantage—I think especially all Crypto people understand this.
Stablecoins were once almost on the verge of being overtaken by CBDCs. In any country, if a central bank digital currency really exists, it is highly likely not built on a blockchain, at most it is built on some internal central bank consortium chain, which to be honest, is meaningless.
When CBDCs were at their peak, that was the most dangerous time for stablecoins.
If CBDCs had become a reality back then, stablecoins today would have been relentlessly suppressed into a dark corner, and blockchain would only be able to play a minimal role.
The remaining half-dead stablecoins would even have to learn the standards of central bank digital currencies, completely relinquishing their standard-setting power.
And now, stablecoins have won (or are about to).
Instead, everyone should learn the 【Blockchain + Token】 standard.
Nowadays, many blockchains actually have no meaningful applications on top, only stablecoin transfers. For example, with Aptos, the only scenario I use Aptos for is transfers between Binance and OKX.
And now, stablecoins will be legislated, what does that mean?
That's right, blockchain will become the only standard.
In the future, every stablecoin user will be the first to learn how to use a wallet.
As an aside, I actually think Ethereum's concerted push for EIP-7702 is quite forward-thinking. While other chains are all about memes, thank you Ethereum for sticking to account abstraction.
EIP-7702 is about Account Abstraction, which can support, for example:
· Social Account Registration Wallet
· Paying GAS with Native Coin
· And more
This paves the way for future new users to heavily use stablecoins, solving the last-mile problem.
Furthermore, once stablecoins receive legislative support, deposits and withdrawals will become even easier.
Let's imagine a scenario: previously, hindered by the gray nature of stablecoins, but after the bill passes, many traditional brokerages can support stablecoins themselves. The money from a US stock investor can be converted into stablecoins in minutes and instantly deposited into Coinbase. Believe it or not.
Let's imagine another scenario: if the brilliant bill smoothly passes through the House of Representatives, next, you will see:
Due to the extremely lucrative nature of this trading, existing stablecoin leaders and newly entering traditional giants will crazily start promoting their stablecoin products.
And an outsider, due to these promotions, will start using stablecoins. And then one day, after finding out that the wallet account has been created, will explore Bitcoin inside. Is mining Bitcoin difficult?
Stablecoins are a huge Trojan horse. The moment you start using stablecoins, you unwittingly step half a foot into the Crypto world.
As a large reservoir for digesting US debt, although stablecoins cannot directly absorb debt, they at least provide ammunition for the US debt secondary market. These functions are quite important, and slowly, stablecoins are becoming a part of the US debt market's body. Therefore, once the US legislation is passed and experiences the benefits, there is no turning back.
And, we are also confident that stablecoins are indeed one of the great innovations in our industry. People who have used stablecoins will find it hard to return to the traditional cash-banking system.
Once the bill is passed, users can't go back. In the future, concerns are about to be resolved, standards will be mastered, and the era of large deposits seems to be on the horizon.
Original Article Link
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1.Binance Alpha Launches HIPPO, BLUE, and Other Tokens
2.Believe Ecosystem Tokens See General Rise, LAUNCHCOIN Surges Over 250% in 24 Hours
3.Tiger Securities Introduces Cryptocurrency Deposit and Withdrawal Service, Supports Mainstream Cryptocurrencies such as BTC and ETH
4.Current Bitcoin Rally Possibly Driven by Institutions, Retail Traders Yet to Join
5.Binance Wallet's New TGE Privasea AI Participation Requires a 198 Point Threshold, with a Point Consumption of 15
Source: Overheard on CT (tg: @overheardonct), Kaito
PUMP: Today's discussions about PUMP focus on its new creator revenue-sharing model: the platform will allocate 50% of PumpSwap revenue to token creators, sparking varied reactions from users. Some criticize the move as insufficient or even misleading, while others view it as a positive step the platform is taking to reward creators. Meanwhile, PUMP faces market pressure from emerging competitors like LetsBONKfun and Raydium, which are rapidly gaining market share. Users also express concerns about PUMP's sustainability and potential regulatory risks in the U.S., with discussions extending to the platform's impact on the entire memecoin ecosystem.
COINBASE: Today, Coinbase became the first crypto company to join the S&P 500 Index, replacing Discover Financial Services, sparking widespread industry attention. The entire crypto community views this milestone as a significant development, signaling that crypto assets are further integrating into the mainstream financial system. The news has sparked lively discussions on Twitter, with many users pointing out that this may attract more institutional investors to enter the Bitcoin and other cryptocurrency markets.
XRP: XRP became the focal point of today's crypto discussion, with its significant market movements and strategic advances drawing attention. XRP has surpassed USDT to become the third-largest cryptocurrency by market capitalization, sparking market excitement and discussions about its future potential. The surge in market capitalization and price is believed to be related to increasing institutional interest, deepening strategic partnerships, and its role in the crypto ecosystem. Additionally, XRP's integration into multiple financial systems and its potential as a macro asset class are also seen as key factors driving the current market sentiment.
DYDX: Today's discussions about DYDX mainly focused on the dYdX Yapper Leaderboard launched by KaitoAI. The leaderboard aims to identify the most active community participants, with a total of $150,000 in rewards to be distributed over the first three seasons. This initiative has sparked broad community participation, with many users discussing the potential rewards and the incentive effect on the DYDX ecosystem. Meanwhile, progress on the ethDYDX to dYdX native chain migration and historical airdrop events have also been topics of discussion.
1. "What Is 'ICM'? Holding Up the $4 Billion Market Cap Solana's New Narrative"
Overnight, the hottest narrative in the crypto space has become "Internet Capital Markets," with a host of crypto projects and founders, led by the Solana ecosystem's new Launchpad platform Believe, releasing this phrase. Together with "Believe in something," it has become the new slogan heralding the onset of a bull market. What exactly is the so-called "Internet Capital Market," will it become a short-lived hype phrase like the Base ecosystem's previous Content Coin, and what related targets are available for selection?2.《LaunchCoin Surges 20x in One Day, How Did Believe Create a $200M Market Cap Shiba Inu After Going to Zero?｜100x Retrospective》
LAUNCHCOIN broke through a $200 million market cap today, with the long-lost liquidity and such a high market cap "Memecoin" almost bringing half of the on-chain crypto community CT into the fray. The community is crazily discussing this token, with half of it being FOMO and the other half being FUD. This token, originally issued by Believe founder Ben Pasternak under his personal identity, transformed into a new platform token after a renaming. From once going to zero to a $200 million market cap, what happened in between?May 14 On-chain Fund Flow
Within 24 hours, GOONC's market cap soared to 70 million, could GOONC be the next billion-dollar dog on the Believe platform?
Bitcoin has broken $100,000, Ethereum has surpassed 2500, and is Solana's hot streak about to make a comeback?
The current market is in a state of macro euphoria, with GOONC riding the wave today, skyrocketing 10x in just a few hours, reaching a market cap of tens of millions of dollars, trading volume soaring past 50 million, and rumors swirling that the developer may be from OpenAI (unconfirmed but intriguing enough).
A ludicrous and absurd Solana meme that some actually buy into.
GOONC is a meme coin that has sprouted from the "gooning" subculture, offering no technological innovation or practical use, its sole function being speculation.
It takes inspiration from an NSFW term "gooning," which refers to a person being deeply immersed in certain content (you know what), eventually entering a nearly religious-like trance.
In Reddit (such as r/GOONED, r/GoonCaves) and some counterculture media outlets (such as MEL Magazine in 2020), "gooning" has gradually transitioned from an adult label to a meme-addicted, digital content and virtual self-indulgence synonym, arguably the epitome of Degen spirit.
GOONC is playing around with this concept, packaging the addictive nature, uselessness, and irony of gooning into a tradable financial product. The project team has made it clear: "We do not solve blockchain problems, we only trade absurdity." Blunt but oddly genuine.
GOONC launched on May 13, 2025, using the meme coin launch platform Believe App's LaunchCoin module on Solana. This tool is highly Degen: zero technical barriers, a few clicks to create a coin, perfect for projects like GOONC that can come up with ideas out of the blue.
The mastermind behind GOONC is also quite something and is the most talked-about, with KOL @basedalexandoor on X platform (alias "Pata van Goon") personally involved. His profile even caught the attention of Marc Andreessen, co-founder of a16z, making onlookers unable to resist speculating if GOONC has a hint of OpenAI lineage.
While this 'OpenAI Endorsement' is currently just community speculation, it is definitely a good card to play to fuel hype. Saying "we are pure speculation" on one hand, while tagging a few "AI + a16z" on the other.
GOONC took off as soon as it launched. After its launch on May 13, 2025, its market capitalization skyrocketed to $22 million within 4 hours, with a trading volume exceeding $25.6 million in 24 hours. According to platform data, the first day of trading saw an astonishing +41,100% surge, soaring from $0.0000001 to $0.02, becoming a "missed-the-boat" situation.
GOONC quickly formed an active trading community post-launch, with a lot of discussion and trading signals appearing on X platform (such as the 292x return signal provided by DeBot). Liquidity pools on exchanges like Raydium and Meteora grew rapidly, supporting high trading volumes and price increases.
The real climax occurred between May 13 and May 14, with the market cap rising to $5.5 million in the morning and directly surpassing $55 million in the afternoon. By the 14th, it briefly approached a $70 million market cap, with the trading volume soaring to $59 million. Some community members even posted screenshots claiming an increase of +85,000%, creating a new myth out of the ruins.
As of 1:30 pm on May 14, the price stabilized around $0.039, with a total market cap and FDV both around $39.6 million, and a 24-hour trading volume of $5.43 million. Active platforms include XT.COM, LBank, Meteora, and others.
Although there was a slight pullback from the peak ($0.07), the coin's popularity remains strong. For a coin that relies purely on "irony + community + X post" to thrive, this performance is already at a stellar level.
Currently, the background of the token's development team is not transparent, increasing the potential risk of a rug pull. Rugcheck.xyz warns that the creator of the GOONC contract may have permission to modify the contract (e.g., change fees or mint additional tokens), posing certain security risks.
Community members speculate that the meteoric rise of GOONC may be the "last hurrah".
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Never Underestimate the Significance of the US Stablecoin 'Infrastructure Bill'
If the US stablecoin bill, the "GENIUS Act," passes smoothly this time, its significance will be tremendous. I even think it's significant enough to enter the top five in Crypto history.
Although abbreviated as the GENIUS Act, which translates directly to the Genius Act, it is actually the Guiding and Establishing National Innovation for U.S. Stablecoins, which translates to "Guiding and Establishing National Innovation for US Dollar Stablecoins."
The proposal is lengthy, with several key points summarized for everyone:
· Mandatory 1:1 Full Asset Backing: Assets include cash, demand deposits, and short-term US Treasuries. At the same time, misappropriation and rehypothecation are strictly prohibited.
· High-Frequency Disclosure: Reserve reports must be published at least monthly, introducing external audits.
· Licensing Requirement: Once the circulating market cap of the issuer's stablecoin exceeds $100 billion, it must transition into the federal regulatory system within a specified timeframe, adopting banking-grade regulation.
· Introduction of Custody: The custodian of the stablecoin and its reserve assets must be a regulated qualified financial institution.
· Clear Definition as a Payment Medium: The bill explicitly defines stablecoin as a new type of payment medium, primarily regulated by the banking regulatory system, rather than restricted by the securities or commodities regulatory system.
· Embracing Existing Stablecoins: A maximum 18-month grace period after the bill's enactment, aimed at encouraging existing stablecoin issuers (such as USDT, USDC, etc.) to promptly obtain licenses or become compliant.
After finishing the main content, let's talk about the significance of this matter with an excited heart.
Over the years, when others asked, "After working in the Crypto industry for 16 years, what application have you created?"
In the future, you can confidently tell others—Stablecoins.
Some people have held opposing views. In the past, people's impression of stablecoins was that they were an opaque black box. Every few months, there would be FUD — whether Tether's assets were frozen or Circle had a significant black hole deficit.
In fact, if you think about it, Tether easily rakes in billions of dollars a year just from the interest on those underlying government bonds. Circle, slightly less, also made a $1.7 billion profit last year.
They basically made money while standing there. From a motivational standpoint, they have no malicious intentions. In fact, they are the most eager for compliance.
Now, this opaque black box will become a transparent white box.
In the past, the only complaint was that Tether's funds might have been frozen by the United States. Now, they will be directly placed into U.S. compliant custodial institutions, with high-frequency disclosures, so you can rest assured.
【No need to worry about a rug pull】 is such a huge advantage—I think especially all Crypto people understand this.
Stablecoins were once almost on the verge of being overtaken by CBDCs. In any country, if a central bank digital currency really exists, it is highly likely not built on a blockchain, at most it is built on some internal central bank consortium chain, which to be honest, is meaningless.
When CBDCs were at their peak, that was the most dangerous time for stablecoins.
If CBDCs had become a reality back then, stablecoins today would have been relentlessly suppressed into a dark corner, and blockchain would only be able to play a minimal role.
The remaining half-dead stablecoins would even have to learn the standards of central bank digital currencies, completely relinquishing their standard-setting power.
And now, stablecoins have won (or are about to).
Instead, everyone should learn the 【Blockchain + Token】 standard.
Nowadays, many blockchains actually have no meaningful applications on top, only stablecoin transfers. For example, with Aptos, the only scenario I use Aptos for is transfers between Binance and OKX.
And now, stablecoins will be legislated, what does that mean?
That's right, blockchain will become the only standard.
In the future, every stablecoin user will be the first to learn how to use a wallet.
As an aside, I actually think Ethereum's concerted push for EIP-7702 is quite forward-thinking. While other chains are all about memes, thank you Ethereum for sticking to account abstraction.
EIP-7702 is about Account Abstraction, which can support, for example:
· Social Account Registration Wallet
· Paying GAS with Native Coin
· And more
This paves the way for future new users to heavily use stablecoins, solving the last-mile problem.
Furthermore, once stablecoins receive legislative support, deposits and withdrawals will become even easier.
Let's imagine a scenario: previously, hindered by the gray nature of stablecoins, but after the bill passes, many traditional brokerages can support stablecoins themselves. The money from a US stock investor can be converted into stablecoins in minutes and instantly deposited into Coinbase. Believe it or not.
Let's imagine another scenario: if the brilliant bill smoothly passes through the House of Representatives, next, you will see:
Due to the extremely lucrative nature of this trading, existing stablecoin leaders and newly entering traditional giants will crazily start promoting their stablecoin products.
And an outsider, due to these promotions, will start using stablecoins. And then one day, after finding out that the wallet account has been created, will explore Bitcoin inside. Is mining Bitcoin difficult?
Stablecoins are a huge Trojan horse. The moment you start using stablecoins, you unwittingly step half a foot into the Crypto world.
As a large reservoir for digesting US debt, although stablecoins cannot directly absorb debt, they at least provide ammunition for the US debt secondary market. These functions are quite important, and slowly, stablecoins are becoming a part of the US debt market's body. Therefore, once the US legislation is passed and experiences the benefits, there is no turning back.
And, we are also confident that stablecoins are indeed one of the great innovations in our industry. People who have used stablecoins will find it hard to return to the traditional cash-banking system.
Once the bill is passed, users can't go back. In the future, concerns are about to be resolved, standards will be mastered, and the era of large deposits seems to be on the horizon.
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