On Friday, October 10, crypto bled. Over $19Bn in forced liquidations were reported, the largest in history. The sell-off was even worse than the March 2020 dump just before the lockdown. This time, however, instead of a pandemic, two heavyweights were blamed: Alleged insiders with links to the White House, and glitches in the world’s largest crypto exchange, Binance.
According to Coingecko, Binance has a Trust Score of +100% based on the legitimacy of its trading volume. The tracker’s algorithm qualifies all Binance’s $34.3Bn trading volume processed in the last 24 hours as authentic. Because of this, it is the largest crypto exchange by trading volume, processing nearly 5X the average trading volume in MEXC, which ranks second.
(Source: Coingecko)
Given Binance’s dominance, it is clear that many users across the globe prefer the exchange. Its ecosystem is also rapidly growing and comprises the Binance Smart Chain (BSC), from which some of the top meme coins, like FOUR, are deployed. According to Coinranking, the total BSC meme coin ecosystem stands at over $17.3Bn, down nearly -4% in 24 hours. Even at this level, BSC meme coins are recovering after plunging by over -70% on Friday, October 10.
(Source: Coinranking)
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Binance Airdrops $45M in Retail Rescue: Meme Coin Traders’ Relief?
When crypto prices crashed on Friday, Binance reportedly failed. Traders claimed that they couldn’t close their positions. And what’s more? While some altcoins tanked to near zero on Binance, they traded at higher levels on other exchanges. It is also on Binance where USDe, the token by Ethena Labs, depegged, falling to as low as $0.65 before snapping back to $1.
(Source: ArthuronHL, X)
The sell-off wasn’t only on Binance but also on the BSC, where meme coin traders were hammered. Given the difficulties, the BNB Chain is now airdropping $45M worth of BNB as support to over 160,000 meme coin traders who were active on the chain last week. Dubbed the “Retail Rescue,” Binance is showing its commitment to stand with platform users while appreciating them for their resilience.
(Source: BNBCHAIN, X)
Those who traded meme coins via Four.meme on the BSC chain last week qualify. Although there is no exact allocation formula, each trader will receive around $300. Funds will be distributed through Four.meme and other ecosystem partners, including PancakeSwap, Binance Wallet, and Trust Wallet.
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Best New Crypto to Buy To Make it All Back?
Meanwhile, even multi-million degen meme coin traders on Solana and Base will be left without relief or help.
The good news is this: There is a smart, sustainable way to get them all back.
One, you can buy SNORT, which is considered the best new crypto to buy before it lists, or second, use Snorter.
Snorter developers are building an AI-powered Telegram trading bot to simplify meme coin trading. It will first deploy on Solana and then expand to other chains, including the BSC.
The bot will be simple to use but also cheap, charging only +0.85% for SNORT holders. What’s more? Active traders won’t have to worry about being rugged. Snorter features an AI-powered honeypot detection tool that protects users from trading potential scams. The bot includes built-in MEV protection, preventing active meme coin traders with millions from being front-run.
Newbies can also copy trades from profitable traders, where they can use advanced orders for execution.
The Snorter presale has raised over $4.6M.
Six days remain before the presale ends. Before then, you can buy SNORT for just $0.1079, and stake for a +108% yield.
DISCOVER: 16+ New and Upcoming Binance Listings in 2025
Binance Airdrops $45M in BNB, Snorter: Best New Crypto To Buy?
- Crypto prices flash crashed on October 10
- Binance reported failed on this day
- BNB Chain distributing $45M to affected meme coin traders
- Snorter raises $4.6M: Is Snort the best new crypto to buy?
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