CZ's statements have caused a crash in meme coins.

Recently, the fluctuations in the крипто currency markets have been reflected in the social media posts of Binance's founder, Changpeng Zhao (CZ). During this period, when prices rose and investor interest increased, CZ's statement that it was not investment advice led to a significant decline in meme coin projects on the BNB Chain.

Changpeng Zhao emphasized that his posts on Twitter should not be interpreted as buy signals. Following this announcement, the meme coin market began to collapse rapidly, with the value of some tokens decreasing between 60% and 95%. A user named YazanXBT warned investors against sending coins to CZ's wallet and linking token names to his posts, stating that it was risky. CZ took this warning seriously, stating, “My tweets are not endorsements; I am just making normal posts, any overlap with memes is coincidental,” to clarify the situation.

Immediately following these statements, the prices of many BNB-based meme tokens on PancakeSwap began to decline. According to Bubblemaps data, at the peak of this frenzy, dubbed “BNB SZN,” more than 100,000 on-chain investors were pouring funds into new tokens, with some making profits of over $10 million. However, the sharp decline in prices led to significant losses for many investors. This activity also pushed the trading volume of decentralized exchanges on the BNB Chain to historic levels.

PancakeSwap achieved a trading volume of approximately $80 billion in September, marking the highest level recorded since November 2021. In the first nine days of October, trading volume exceeded $30 billion. At the height of the meme coin craze, the price of BNB reached $1,350, hitting an all-time high. However, following CZ’s statements, the price fell to around $1,270. BNB Chain platforms still account for approximately 40% of the $19 billion DEX volume in a 24-hour period.