Old Chain New Memecoins
While Bitcoin hovers around the $123K mark, a new memecoin season may have just begun over on the BNB Smart Chain.
In the past week, traders have made millions on several different coins, spun off from various memes about the founder of Binance, Changpeng Zhao, or CZ.
For example, the ‘4’ memecoin was launched shortly after the BNB Chain’s official X account suffered a phishing attack, where the hacker only managed to take off with just $4K.
The incident, which had turned into a hilarious event for the community, had quickly turned into a profitable one for some traders as the ‘4’ memecoin surged to a peak market cap of $290M.
The success of ‘4’ kickstarted a new memecoin season on the BNB Chain, with CZ himself commenting on the situation.
Since then, several memecoins launched through the BNB-based Four.meme launchpad have found relative success such as BinanceLife and Palu.
BNB, which serves as the native gas token for the network, has also reached a new all-time high of $1,330 earlier today.
ZKsync Prepares to Carry the Weight of Institutions
Layer-2 solution ZKsync has deployed the Atlas upgrade for its ZK infrastructure, which aims to provide more customizable architecture for enterprises.
The Atlas upgrades include a fully EVM-compatible sequencer capable of processing up to 50K transactions per second.
Besides that, the improved ZK stack will implement a new prover known as Airbender, which is able to confirm transactions from as low as $0.0001, and scales well with lower-end hardware.
Shortly after the announcement of Atlas, the price of the ZK token spiked to $0.06, but has since retraced by 6.7% to $0.056.
Fresh Tokens Off the Griddle
The popular PancakeSwap DEX has revamped its Initial Farm Offering (IFO) product into CakePad, a new token launchpad offering early access without the need for staking or locking assets.
According to the project’s latest article, CakePad will allow users to commit the platform’s native CAKE tokens during the sale period, and receive new tokens after the sale ends.
Users can choose to deposit any amount of CAKE , or split them among concurrent token sales on CakePad.
However, oversubscribed sales will include a tiered subscription tax, which will decrease as participation increases.
The participation fees collected from CakePad will be completely burnt, further reducing the circulating supply of CAKE.
Since the announcement of CakePad, the price of CAKE has surged by 12.6% from $3.56 to $4.01 today.
In Other News
Meteora’s Phoenix Rising Plan. Solana DEX Meteora unveils its tokenomics plan ahead of its October 23 TGE date. MET will have a 1B maximum token supply with a 48% circulating supply on TGE. MER holders will receive 20%. There is no token vesting for airdrop claimants.
A New S&P Crypto Index. S&P Dow Jones Indices is releasing a new index tracking 15 digital assets and 35 crypto-focused companies. Besides the majors other notable inclusions include HYPE, AVAX and LINK. Memecoins are not included in this index.
Kazakhstan Crypto Crackdown. Kazakh authorities announced at a government briefing that they terminated the operations of 130 unlicensed crypto platforms and confiscated $16.7M worth of digital assets.
Hyperliquid Lists Monad Perps. Users can now speculate on the valuation of Monad’s upcoming MON token. Monad is an EVM compatible L1 that recently teased a progress bar for their airdrop at “80%” completed. Traders currently price Monad at a $15B FDV.
Polymarket Bags $2B Additional Funding. NYSE Parent firm ICE announced that they are investing $2B into Polymarket, the Polygon based crypto prediction market.
Rainbow Wallet Integrates Hyperliquid. The Rainbow crypto wallet announced a new in-wallet perp trading feature supported by Hyperliquid. Rainbow is also launching their RNBW token in Q4 2025.
India to Rollout CBDC. Union Minister Piyush Goyal announced that India will introduce a digital currency backed by the Reserve Bank of India to discourage usage of private crypto. Despite the nation’s negative attitude towards crypto, the country has yet to impose an outright ban on crypto.
Growing Solana Treasuries. Nasdaq-listed Solana Company, formerly Helius Medical Technologies, announced on Monday that they have thus far acquired a total of $530M worth of SOL. This announcement follows the greater trend of increasing SOL accumulation by treasury firms.
The DeFi Comeback. DeFi protocols have generated ~$600M of fees in September, marking a significant recovery since 12 month lows of $340M recorded in March. Uniswap, Aave and Ethena accounted for a majority of the fees generated.
Sharplink Gaming Sits on $900M Unrealized Profits. Following ETH’s previous rally to ATHs, Ethereum treasury firm SBET is now sitting on $900M worth of unrealized profits since adopting an ETH treasury strategy in June.
PLUME Rises on SEC Registration. Plume Network’s PLUME token rose 25% after the US SEC approved the network as a transfer agent for tokenized securities. This approval will allow Plume to manage digital securities and shareholder records directly on-chain.
Jupiter Crypto Wallet Now Available on Desktop. Jupiter’s previously mobile exclusive crypto wallet is now available on desktops. The new wallet promises 10x lower fees and greater integrations across Jupiter’s Solana DeFi products.