The Binance Smart Chain (BSC) ecosystem saw corrections on Thursday, with flagship token BNB and several newly-popular meme coins retreating after a burst of speculative activity earlier this week.
Data from GMGN showed BNB fell 3.4% to $1,270, reversing gains from a recent rally above $1,300. “Binance Life,” a meme coin that became the focus of retail speculation, dropped about 9.5% to $0.3181 in the past 24 hours
BNB’s fall comes after the chain reported record monthly activity with more than 60m active addresses and a $1b Builder Fund announcement that added to optimism earlier this month.
The declines follow an explosive run-up that began two days ago when capital poured into thinly traded tokens across the BSC ecosystem. Technical indicators suggested overbought conditions, prompting profit-taking among traders who had fuelled the surge.
“Binance Life” captured particular attention as a satirical play on the constant grind of crypto trading. Its market cap jumped from less than $100,000 at launch to $190m within days, driven by community hype and trading on PancakeSwap. Early investors recorded gains exceeding 2,000 times before heavy selling dragged prices lower.
Its recent listing on Binance Alpha and ties to the company’s roadmap for AI and DeFi integration spurred early enthusiasm, but the lack of utility left it vulnerable to rapid corrections. Still, trading volumes remain elevated, with Binance Life alone seeing more than $232m exchanged in the past day, suggesting continued retail engagement.
PALU, based on a yellow emoji mascot linked to Binance’s Chinese X account, saw even wilder swings. The token hit an all-time high of $0.1204 just days ago before profit-taking erased more than a third of its value.
