WOO X Research: BNB Rises ~14% in One Day – Overview of Recent Binance-Supported "In-House" Projects
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WOO X Research: BNB Rises ~14% in One Day – Overview of Recent Binance-Supported "In-House" Projects
BNB rose about 100 U in a single day, up approximately 14%.
Navigating Web3 tides with focused insightsDuring this cycle, BNB has seemed relatively "low-key," without experiencing any particularly significant gains. Recently, however, BNB has performed impressively in the cryptocurrency market, achieving a notable price increase of approximately 14%, drawing widespread attention from investors.
Image source:
https://cn.tradingview.com/chart/jyCAJAsu/?symbol=BINANCE%3ABNBUSD
Compared to other major tokens, BNB has demonstrated stronger growth momentum. For example, ETH rose by about 5% during the same period; SOL's gain remained around 1%; OKB increased by approximately 7%. In performance terms, BNB has not only outperformed most competitors but also further solidified its position as the leading platform token.
Analyzing the reasons, in addition to favorable recent market sentiment, another key factor potentially driving its rise is Binance’s diversified ecosystem strategy—specifically, the ongoing expansion of BNB Smart Chain (BSC) and the broader BNB ecosystem. Recently, Binance has indeed taken a series of actions to support projects within its own ecosystem. This article by WOO X Research compiles and summarizes projects involved in Binance’s recent initiatives.
Astherus
On November 28, Binance Labs announced an investment in Astherus, a multi-asset liquidity hub.
Image source:
https://x.com/BinanceLabs/status/1862134457433755872
The protocol primarily consists of three components:
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dApp Layer – Native dApps include AstherusEX and AstherusEarn.
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DeFi Infrastructure Layer – Aggregates liquidity across asset pools. This module will also allow developers to build DApps on Astherus in the future.
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L1 Chain – A DeFi-focused Layer-1 blockchain supporting multi-asset staking and using $BNB as gas fees.
Currently supports BNB Chain, Ethereum, Scroll, and Solana. Wallet compatibility includes MetaMask and Binance Web3 Wallet extensions.
Astherus launched USDF, which can be exchanged 1:1 for USDT on the BSC chain. Users can earn triple Au points and participate in other activities (such as leveraged trading) to receive varying point multipliers. Points are used to allocate ASS airdrops. Staking USDF in AstherusEarn to mint asUSDF also generates yield.
Kernel
On November 25, Kernel, a restaking infrastructure within the BNB Chain ecosystem, raised a total of $10 million in funding, with participation from Binance Labs.
Kernel’s product suite includes restaking on BNB, Kelp—the liquid restaking protocol on Ethereum—and Gain, an RWA tokenized yield protocol.
According to the official roadmap, mainnet preparations will take place from November to December 2024, with full protocol launch scheduled between January and February 2025, including mainnet operations and partner integrations.
Thena
On November 26, Thena (THE) became the second project launched on Binance HODLer Airdrop.
Thena is a decentralized exchange and liquidity layer built on BNB Chain and opBNB. It currently offers the following products and services:
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THENA: A spot DEX;
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ALPHA: A perpetuals DEX offering crypto trading pairs with up to 60x leverage;
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ARENA: A social trading competition platform;
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WARP: An upcoming Launchpad;
The ecosystem involves three main tokens: THE, veTHE, and theNFT.
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THE: Governance token;
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veTHE: Locked version representing voting power. Locking THE for two years yields 1 veTHE. veTHE holders receive a portion of platform revenue;
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theNFT: Minted by early users. According to the official website, holders receive 10% of THENA trading fees.
Brevis
On November 26, Binance Labs led the seed round investment in Brevis Network, a ZK-powered omnichain data proof platform.
In simple terms, by integrating its API, developers can access historical on-chain data. Brevis performs off-chain computations and generates zero-knowledge (ZK) proofs, which are submitted back on-chain along with the results, enabling seamless integration between DApps and Brevis.
WHY
On November 25, Binance listed the 1000WHYUSDT perpetual contract with 1–75x leverage.
WHY is a meme coin based on the Dumbo concept, originally named Ele before rebranding to WHY. It is a deflationary meme token listed on Binance, tied to BNB circulation, where all transaction fees are used to burn both WHY and BNB.
It boasts a large community; at the time of writing, there were 80,080 unique holder addresses.
CHEEMS
On November 25, Binance launched the 1000CHEEMSUSDT perpetual contract with 1–75x leverage. CHEEMS is a Shiba Inu-themed meme coin on the BSC chain.
The community is large and highly engaged. At the time of writing, there were 53,732 unique holder addresses.
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