Can Binance’s $45M bet on memecoins sustain BNB’s push to ATH?

Key Takeaways

Why is BNB rallying?

The $45 million Reload Airdrop for memecoin investors and Binance’s $283 million refunds reignited market confidence and buyer momentum.

What’s next for Binance traders?

With BNB near $1,185 and Fear and Greed at 42, sentiment may flip bullish if utility demand persists.

The crypto market endured sharp volatility over the past week, with multiple assets facing drawdowns.

Yet, Binance Coin [BNB] stood out, trending toward a new all-time high of $1,375 despite unfavorable market conditions. The surge appeared to be driven by recent funding initiatives launched to support affected investors.

$45 million relief fund for memecoin investors

BNB Chain and Four Meme [FOUR] have announced a $45 million “Reload Fund” airdrop aimed at supporting memecoin investors who traded on its platform.

The fund will be distributed among 160,000 eligible users through partnerships with PancakeSwap [CAKE], Binance Wallet, and Trust Wallet.

Distribution has already begun and is expected to continue through early November, though no specific end date has been set.

Eligibility for the relief fund reportedly depends on investors’ activity levels in the memecoin market. BNB Chain stated in its official X announcement,

“The memecoin community is one of the most active and creative in the ecosystem, and they’ve been hit the hardest by recent market events.”

Changpeng Zhao (CZ), Binance founder, acknowledged that the initiative aims to assist traders who suffered losses during the recent turbulence.

CZ added that the initial target was $44 million, but an undisclosed investor contributed an additional $1 million, raising the total relief package to $45 million.

$283 million compensation from Binance

The $45 million initiative is just one of several ongoing recovery efforts.

Binance recently refunded $283 million to users affected by a platform glitch that triggered widespread losses following a $19 billion market-wide liquidation.

One of the most notable glitches involved the USDe stablecoin, which depegged to $0.65 on Binance, adding to the weekend’s liquidation chaos.

Other tokens, including Cosmos Hub [ATOM] and EigenLayer [EIGEN], briefly displayed a $0 value, intensifying the panic across the market.

In an email statement, Ray Youssef, CEO of NoOnes, reflected on how BNB managed to reclaim a new high despite the largest liquidation event in recent months:

“It reveals how fast this market resets and rebuilds. The market’s reaction shows that users still value platforms that keep liquidity flowing.”

Lionel Iruk, Senior Advisor to Nav Markets, added,

“BNB’s recent price action reflects growing investor confidence in its utility within the Binance ecosystem, giving it a short-term edge over purely speculative assets.”

Market sentiment turns cautious but steady

At press time, BNB traded near $1,185, showing strong recovery momentum. The global crypto market capitalization stood at $3.75 trillion, still below its pre-crash $4 trillion level.

For now, many investors remain cautious, waiting on the sidelines as market fear lingers.

The Fear and Greed Index on CoinMarketCap showed a reading of 42 at press time, signaling lingering uncertainty. Analysts suggest a breakout could occur once the index climbs above the 50 threshold.

Source: CoinMarketCap