- It seems that Grachev anticipates the emergence of prominent protocols or development teams from China that are constructing their products directly on the BNB ecosystem
- China Renaissance, a big investment bank, announced plans to raise $600 million to build a public treasury vehicle centered on BNB, staking, DeFi, and tokenization on BNB Chain
- BNB ecosystem is pushing a big airdrop, distributing approximately $45 million in BNB to an estimated 160,000 memecoin traders
Andrei Grachev, a high-profile figure in crypto and the head of DWF Labs (a company active in market making, liquidity, venture support, and ecosystem growth), is drawing attention to an up-and-coming Chinese blockchain project being built on the BNB Chain.
DWF Labs has already demonstrated a substantial commitment to Web3 initiatives originating from China and the Greater China region in the past. For instance, last year in July, the company officially started its $20 million Cloudbreak fund, dedicated to investing in cryptocurrency projects in the mentioned region.
Grachev’s X post likely indicates that he anticipates the emergence of prominent protocols or development teams from China that are constructing their products directly on the BNB ecosystem, whether at the base layer, scaling solutions, or application level.
Related: BNB Chain Meme Coin Frenzy Nets $516M in Profits for Over 93,000 Traders
Institutional fuel: China Renaissance targets a $600 million BNB treasury
A few days ago, China Renaissance, a big investment bank, announced plans to raise $600 million to build a public treasury vehicle centered on BNB, staking, DeFi, and tokenization on BNB Chain.
This institutional commitment to BNB gives extra credibility to the idea that BNB is becoming a major hub. Consequently, high-quality projects native to the platform, particularly those with Chinese origins, are well-positioned to attract institutional investment.
User activation: BNB airdrop estimates $45 million to ~160,000 memecoin traders
Also, the BNB ecosystem is pushing a big airdrop, distributing approximately $45 million in BNB to an estimated 160,000 memecoin traders. This could get a lot of people active and help new projects get noticed.
What’s more, several days ago, Grachev announced that DWF Labs will support projects impacted by flash crashes, offering capital injections and buybacks, showing that the company is not just a passive investor but an active liquidity supporter.
Long-term ramifications and development shift
If Chinese tech teams start building the core systems of BNB Chain and not just tokens on top of it, it could pull some developers and money away from Ethereum. This would give BNB much more credibility as a development platform.
Projects from China often have strong funding and big communities, so a few breakout successes could become important links connecting the Chinese crypto scene with the rest of the world.
As such, Grachev’s statement is like a heads-up for investors and builders to start paying close attention to the Chinese projects on BNB now, before their potential success is reflected in higher prices.
Related: BNB Hits New ATH, Flips BlackStone, Tether, and XRP in MarketCap
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Source: https://coinedition.com/bnb-chain-china-projects-focus-dwf-grachev/
