BNB Chain to Airdrop $45M to 160k+ Memecoin Traders

BNB Chain, the layer-1 blockchain linked to the crypto exchange Binance, has launched a $45 million “Reload Airdrop” in BNB to support memecoin traders who suffered losses amid the latest wave of market volatility. More than 160,000 wallet addresses that traded memecoins in recent weeks will be eligible for the airdrop.

The team behind the L1 blockchain partnered the memecoin launchpad Four.Meme to debut the latest initiative. Other ecosystem partners like PancakeSwap, Binance Wallet, and Trust Wallet have joined the effort to airdrop millions of dollars in BNB.

Supporting Users Through Market Losses

The announcement explained that the first round will begin this week. All distributions expected to be completed by early November 2025. The final amount of BNB airdropped to users will be randomized, ensuring a fair and transparent distribution.

Notably, BNB Chain’s effort to compensate memecoin traders mirrors a similar move by Binance. Yesterday, the leading crypto exchange announced that it has disbursed $283 million to compensate victims of token depeg incidents within a 24-hour window. This move caused a backlash from Hyperliquid’s founder Jeff Yan, who claimed that centralized exchanges under-reported their liquidation data.

The Crypto Market Crash

On October 10, the crypto industry experienced the largest 24-hour liquidation, erasing over $19 billion from the market. This surpassed the liquidation that occurred in March 2020 when COVID struck and November 2022 when FTX crashed.

A policy move from the United States triggered the crypto market dump. President Trump imposed a 100% in tariffs on trade with China, sending shock waves through traditional and digital asset markets. The sudden decision caught investors off guard and led to widespread uncertainty across global exchanges.

Prices of major crypto assets, including BTC, ETH, and BNB, saw a rapid price dump before gradually recovering. The market even saw news of Ukrainian crypto influencer, Kostya Kudo, that took his life, possibly due to the market crash.

On the bright side, a survey showed that 41% of American investors bought the dip. Another 21% lost 80% to 100% of their crypto portfolio value.

Memecoins were not left out in the downtrend, which affected users across various blockchains. BNB Chain’s airdrop underscores its commitment to supporting users through the market turbulence.

Although BNB experienced a price dip to around $1,050 on October 10, it has since recovered. Interestingly, it attained a new all-time high of $1,370 earlier today. At the time of writing, the digital asset traded at $1,274, representing a 1.67% increase over the past one hour.

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