The Binance Smart Chain-based meme coin Mubarak (MUBARAK) has seen an explosive surge in trading activity after reports emerged linking Binance founder Changpeng Zhao (CZ) to its purchase. Data from CoinGecko shows MUBARAK’s price skyrocketing 325% to $0.1238, pushing its market capitalization to $148 million in record time.
CZ’s Entry into Mubarak Sends Prices Soaring
Blockchain analytics firm Lookonchain first reported on March 16 that a wallet linked to CZ had purchased MUBARAK tokens worth 1 BNB ($600) via PancakeSwap, a leading decentralized exchange (DEX) on the BNB Chain. The transaction yielded 20,150 MUBARAK tokens. Additionally, Zhao reportedly bought another meme coin, Test (TST), for 1 BNB, signaling a broader engagement in the meme coin frenzy.
CZ(@cz_binance) spent 1 $BNB($600) to buy $mubarak and 1 $BNB ($600) to buy $TST 30 mins ago.https://t.co/0QdzQYfn7A pic.twitter.com/yv6YPuAnXY
— Lookonchain (@lookonchain) March 16, 2025
Despite previously stating that he avoids trading meme coins, Zhao’s involvement with MUBARAK has triggered a wave of investor interest, propelling its price by over 325% within 24 hours. The token’s rapid rise has also been fueled by its listing on Binance Alpha, boosting liquidity and attracting further traders.
Early Investors Reap Massive Gains
The early launch of Mubarak on the Four.Meme platform on March 14 saw its market cap jump from just $6,000 to over $100 million. Investors who bought in early have made substantial profits. Lookonchain highlighted one trader who turned an 8.55 BNB ($4,947) investment into over $521,000. This trader sold 2.35 million MUBARAK tokens for 125 BNB ($74,120) while still holding 10 million tokens, now worth approximately $452,000.
BNB Chain Overtakes Solana in DEX Volume
The surge in MUBARAK’s trading activity has contributed to the BNB Chain surpassing Solana in decentralized exchange volume. Over the past 24 hours, BNB Chain recorded a remarkable $1.64 billion in DEX transactions, with PancakeSwap leading as the highest-performing platform.
In the past 24 hours, the DEX volume on #BSC reached $1.637B, surpassing #Solana and ranking first. pic.twitter.com/cpE5TCMgSK
— Lookonchain (@lookonchain) March 17, 2025
Meme coin mania continues to dominate the crypto landscape, and with Binance’s ecosystem thriving, the BNB Chain remains a dominant force in DeFi.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: BNB Price Prediction 2025: Will Binance Coin Hit $1,000 Amid Crypto Market Surge?
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