BNB Chain, part of the Binance ecosystem, has overtaken Solana in memecoin trading volume as of June 2025. The BNB Chain secured a 45% share of memecoin decentralized exchange (DEX) trading volume, up substantially from 25% in April 2025, while Solana's share declined sharply from 40% to 25%. This shift is driven primarily by Binance's Alpha Program, which has boosted memecoin visibility and liquidity on BNB Chain.
PancakeSwap, a major exchange on BNB Chain, experienced a spike in trading volume fueled by strong retail enthusiasm. This enthusiasm contrasts with a drop of 28% in Solana's trading volume, attributed to reputation issues and lowered user confidence.
The increased activity on BNB Chain has led to record DEX volumes, with $1.64 billion recorded in March 2025. These changes have altered liquidity flows and trading dynamics, favoring BNB Chain due to its low fees and ecosystem accessibility. Industry analysts emphasize the importance of monitoring strategic or technical adaptations in response to this market shift.
While Solana faces challenges from reduced liquidity and reputational setbacks, BNB Chain’s memecoin sector continues to grow, supported by community engagement and retail demand. No significant regulatory reactions have been observed following these developments.