📌 TOPINDIATOURS Breaking crypto: Is BSC Taking Over Solana This Meme Coin Cycle? H

This morning, BSC took over the trending meme coin list, totally displacing Solana. SOL is still leading this market sector, but BNB’s blockchain might be the best candidate to replace it.

Other chains, like Base and XRP, have enjoyed opportunities at long-term prominence, but these have both diminished. So far, BSC has the best infrastructure and community to actually take over this space.

Can BSC Usurp Solana?

Solana has usually been the top blockchain in meme coins, but a new contender may be gunning for its position. Recently, BNB Smart Chain (BSC) has risen in this market sector, as one analyst pointed out that it ousted Solana from the trendiest positions:

Of course, the list of trending meme coins is constantly churning, and statistics like this never last long. For example, at the time of writing, the 5-minute trending category has a different result.

All five of these leading assets are from Solana, not BSC, and the two blockchains are neck-and-neck in the one, six, and 24 hour leaderboards.

Still, an upset like this doesn’t just fall out of the sky. BSC has to be a serious contender to even briefly contest with Solana like this. Compared to BSC, is there any other blockchain that has a shot at taking over the meme coin sector? What does BNB Smart Chain have that these other projects lack?

Meme Coin Contenders Explained

A year and a half ago, there were market rumors that Base could replace Solana in this area. However, security vulnerabilities turned some investors off, which has discouraged a native meme coin community.

This has caused growth to stagnate, and a lack of popular launch rails and fragmented liquidity across EVM venues and bridges have further stifled its growth.

When it comes to an enthusiastic “meme-native” community, it seems like there’s no alternative to XRP. XRP meme coins also enjoyed a popular moment last year, but this sector has apparently withered on the vine. A few projects continue to stand out, but most XRP meme coins are more or less dead.

Comparatively, BSC is in a solid place to overtake Solana.

Although Binance has somewhat distanced its branding from BNB and BSC, ecosystem integration and leverage still help these projects reach a larger audience. The blockchain is actively building meme coin launch rails, while Solana is showing signs of saturation and fatigue.

BNB is also enjoying a surge in popularity, which seems like a bullish sign for the rest of its blockchain ecosystem:

In short, BSC has a lot of factors that could allow it to overtake Solana. Today’s success over the trending token list does not necessarily guarantee a long-term victory, but BSC is the best contender to achieve this goal.

Unless another blockchain can build up a similar community and infrastructure, it’s likely to maintain this prominence.

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📌 TOPINDIATOURS Hot crypto: Low-Income New Yorkers To Receive Crypto Stipend Via C

Coinbase is partnering with the non-profit GiveDirectly to launch a program providing crypto stipends to low-income New Yorkers between 18 and 30.

The project will distribute USDC worth $12,000 in six installments to 160 residents selected by lottery.

Using USDC to Relieve New York Poverty

GiveDirectly, a US-based non-profit that lets donors send money directly to the world’s poorest households, has partnered with centralized exchange Coinbase to launch a new pilot program.

The initiative, dubbed “Future First,” aims to alleviate poverty in New York City by disbursing money to low-income residents. GiveDirectly will administer the program, while Coinbase will fund it and provide the necessary infrastructure.

GiveDirectly will disburse $12,000 worth of USDC to 160 randomly selected New Yorkers over the next five months. The pilot will first give participants $8,000 up front and five subsequent deposits of $800. 

“We wanted the funds to go to a US-based non-profit whose mission was aligned. Our goal is to increase economic freedom in the world, and we want to bring the transformative power of blockchain technology to those who need it most,” a Coinbase spokesperson told BeInCrypto.

The program is the latest to study how well no-strings-attached support can improve the quality of life for people of low socioeconomic status. It’s also the first in the US to give out money in cryptocurrency. 

Notably, Coinbase told BeInCrypto that its involvement will be limited to enabling the transfer of these funds on behalf of GiveDirectly.

The exchange will not be involved in the selection of the participants.

Learning to Use Digital Currencies

The program will inevitably educate participants on how to handle crypto financial transactions. Because spending stablecoins is more complex than cash or debit cards, they must develop the essential skills to use the funds successfully.

Still, they have options. Participants can transfer the money from their Coinbase wallet into a traditional bank account. They can also use a Coinbase debit card to make purchases in stores or get cash from any ATM.

However, the most direct and easiest option is to keep the funds within their Coinbase account.

The initiative signifies a renewed push by Coinbase to use crypto donations to advance its vision for a broader digital financial system.

Past Efforts at Crypto Giving

The pilot program isn’t the first time Coinbase has donated crypto to promote wider adoption of digital currencies.

In 2018, Coinbase CEO Brian Armstrong announced the launch of GiveCrypto, an organization that aimed to financially empower people by distributing cryptocurrency globally.

The organization would first raise money from cryptocurrency holders and then use those funds to distribute small payments worldwide to those in need.

By 2023, however, Coinbase abandoned the effort, citing the project’s inability to create lasting change. According to a Bloomberg report, Coinbase gave the leftover $2.6 million in funds to GiveDirectly, which then used them to seed the New York City pilot program. 

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