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BNB Chain Drops $45 Million Airdrop to Aid Meme Coin Traders

Key Takeaways

  • BNB Chain is launching a $45 million "reload airdrop" to help over 160,000 meme coin traders who faced losses during a recent price drop;
  • BNB tokens will be distributed randomly, with support from ecosystem partners like PancakeSwap, Binance Wallet, and Trust Wallet;
  • Binance confirmed its systems remained stable during the crash and blamed the price drop on old limit orders and low trading activity.​

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BNB Chain Drops $45 Million Airdrop to Aid Meme Coin Traders

BNB Chain has introduced a $45 million token giveaway to support users impacted by the meme coin price drop.

The program, labeled a "reload airdrop", will deliver BNB BNB $1,159.11 tokens to over 160,000 users who meet specific criteria. Distributions are expected to begin within the week and finish by early November.

According to an October 13 post on X from Changpeng Zhao, the BNB rewards will be shared randomly.

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Several partners in the ecosystem, such as PancakeSwap CAKE $3.31 , Binance Wallet, Trust Wallet, and Four Meme, will help ensure the tokens reach those eligible.

BNB Chain, which started as a project by Binance $17.66B but is currently run by a decentralized network of contributors, is the backbone of the BNB token and supports a range of apps, including those in decentralized finance (DeFi), blockchain-based games, and digital assets.

On October 12, Binance also addressed community concerns through a public statement about the recent market instability. The platform confirmed that a full system check showed its core futures services were stable and continued to work during the sell-off.

It explained that the sudden fall in prices for some tokens was mostly due to older limit orders being triggered during a time when there was very little trading activity.

On October 8, a new $1 billion fund was announced by Zhao's investment firm, YZi Labs. What is the aim of the funding? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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