- BNB Chain now controls 45% of memecoin DEX volume, surpassing Solana’s 25%.
- Solana’s memecoin trading share declined 15% since April, dropping from 40% to 25%.
- Ethereum remains stable at 20%, while Base, Arbitrum, and others trail behind.
The chain BNB itself has led in the memecoin trading, capturing 45% of the volume in the decentralized trading exchange (DEX) sector. This high activity ranks it above Solana and Ethereum, which have 25 per cent and 20% at the moment.
Statistics indicate that the percentage of trading dominance by BNB Chain is higher at 45 percent in June as opposed to April when the rate was 25%. The change of momentum demonstrates more user activity, which was probably induced by strategic ecosystem programs. One of them is Binance Alpha Program which is a project incubation platform that seeks to enhance memecoin liquidity and visibility on the Binance Chain.
Though BNB Chain has seen rapid growth, not all listed tokens perform consistently. Bondex (BDXN), for example, saw a sharp drop in value following its listing, attributed to large-scale profit-taking on the exchange.
Solana Faces Decline After Extended Dominance
Solana’s memecoin activity has dropped significantly. Its share of DEX trading volume has fallen from 40% in April to 25% in June. This marks the end of its 12-month streak as the leading memecoin blockchain.
Despite the decline, some Solana-based tokens continue to show strong market performance. The TRUMP memecoin recently surged 3,000% within 24 hours. Additionally, Solana’s Pump.fun platform is preparing a major funding initiative targeting \$1 billion to strengthen its launchpad ecosystem.
Solana’s reduced share reflects increased competition and shifting investor interest towards alternative chains offering better liquidity and support for memecoin projects.
Other Chains Aim to Gain Ground in the Memecoin Race
Ethereum holds a consistent 20% of total DEX trading in memecoins, maintaining its position despite the rise of newer chains. Base accounts for 5% of activity, while other networks, including Arbitrum, Avalanche, Unichain, and Celo, collectively also hold 5%.
Cardano is actively trying to grow its presence in the space. Input Output, the blockchain’s core development team, has partnered with SNEK to strengthen Cardano’s memecoin activity. The partnership aims to draw attention to the platform and support project development.
As the memecoin market evolves, Bloomberg analyst Eric Balchunas forecasts the possible introduction of a memecoin-based ETF by 2026, signaling the sector’s growing recognition in mainstream finance.
