It has been an eventful week on the blockchain. And it all started with a 24-hour express pass to a $1 billion market cap and a jaw-dropping 600x surge in a day for $ANSEM.

The Return of Ansem, The On-Chain Genesis

On June 9, crypto KOL Ansem claimed to have made his first return in over a year to buy a Solana meme coin. More recently, he has repeatedly mentioned the pump.fun airdrop, interacted with pump.fun tweets suggesting the airdrop should happen now, and publicly talked about it on the Market Bubble podcast:

If you were to run pump.fun today, what would you do first? Ansem: Airdrop

Since June 21, he has been consistently talking about the concept of "RTM (Return to Meme, bringing back meme coins)."

However, at that time, no one anticipated the beginning of a bull run, let alone in the form of a "celebrity coin" like $ANSEM. Initially, Ansem's popularity was primarily due to his role as a "meme vigilante," taking the lead in suggesting the airdrop to pump.fun in a market where meme coins had long been lackluster, believing it could reactivate market liquidity.

It was only when Ansem stated on X that for retweeting his tweets, following him on pump.fun, and leaving a link to his pump.fun profile in the comments section, he would randomly select lucky viewers every week to airdrop a portion of the creator's income. This kind of "soft claiming" ignited the emotions of on-chain players.

At that time, many on-chain players felt somewhat similar to the situation when OpenSea delayed its token release and then OpenDAO ($SOS) airdropped tokens to NFT players. Both had KOLs leading the way, both tapping into players' long-standing dissatisfaction.

However, our expectation is that it is "difficult to say that Ansem really wants to return to the trenches as a pure meme hero. Because Ansem is no longer just a meme coin legendary player, or a crypto KOL. One of his current identities is the co-founder of the trading terminal Bullpen."

From Ansem's later airdrop claim page for $ANSEM on Bullpen, this expectation seems correct. When he stood up to claim, he may have already planned to make this token the best advertisement for his trading platform.

A Week of Rapid Narrative Switching

After $ANSEM broke through a $100 million market cap, the narrative quickly shifted from combating pump.fun, airdrop distribution to "celebrity coins".

Here, "celebrity coins" refer to tokens that distribute 60% or even more of the supply to a celebrity's public address, with a crypto KOL ticker, waiting for them to tweet to claim. Shortly after $ANSEM broke through a $100 million market cap, $TJR, which once approached a $30 million market cap and was seen as a contender, emerged as well.

However, $TJR directly ended all possibilities of this contender in the evening livestream. He stated that fragmentation is a very bad thing, calling on everyone to refocus on $ANSEM and work hard to push $ANSEM's market cap to $1 billion.

This caused $TJR to plummet from thereon, but it also prevented more serious fragmentation, redirecting attention and funds back to $ANSEM.

After this incident, the frenzy of "celebrity coins" temporarily cooled off, and everyone turned to focus on the specific projects that Ansem favored. Projects such as the US stock stablecoin project Nest, Solana chain game Kintara, etc., all saw gains at this stage.

Next, everyone turned their attention to Ansem's public address. $manlet appeared in Ansem's wallet-sharing tweet, quickly skyrocketing from a $3 million market cap to over $13 million market cap, and briefly breaking through a $25 million market cap that same evening.

Overall, there was no clear trend on Solana after $TJR, and there was no liquidity overflow from $ANSEM to other narratives. In theory, the market should have caught on to this copycat $manlet strategy of mimicking Ansem's position earlier, but Ansem's earlier tweets did not trigger speculation.

Since the new coin listing relay on Solana did not go well, it's now BSC's turn to take the baton.

Market Transition to BSC

Yesterday at 5 a.m., CZ's tweet from 2021 resurfaced. This tweet, similar to the "Big Black Bull" image associated with $ANSEM, had CZ saying five years ago, "Everyone knows I'm a bull, but you have not seen my ultimate form yet."

Following this, $CZ suddenly started to surge, nearly 200 times in one hour. Although everyone thought CZ would not personally intervene like Ansem, tweeting and airdropping tokens every day, this coin still skyrocketed. Despite facing a fork with the same name and a rapid price drop after the surge (plunging from a market cap of around $40 million to below $6 million in just one hour), the coin eventually reached a market cap close to $90 million.

More similar to $ANSEM on BSC is $TCC, as it was airdropped to @TCryptochicks, and he also frequently promoted this coin on X. The reason for the attention is CZ's interactions with this coin on X, giving people a sense of "this is the BSC Ansem endorsed by CZ":

The "Celebrity Ambush" scenario is also unfolding on BSC. This morning, $dingaling, without being claimed, briefly FOMOed to a $5 million market cap. It then quickly plummeted and is currently valued at less than $300,000.

Currently, the sentiment on BSC is more positive than on Solana, especially for players participating in initial listings. BSC has a faster pace and more opportunities than Solana at the moment. As for how the market will develop on these two chains in the future, it is still uncertain. Hopefully, a new narrative that can embrace "celebrity coins" will emerge.

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