BNB has recently stabilized around the $900 mark, and it looks like a breakout is imminent. Interestingly, as the mainstream lending protocol within the BNB ecosystem, the leading lending product tokens on this chain seem to be lagging—still hovering in the bottom range.

This phenomenon actually explains a lot. The data makes it clear.

First, the locked-in volume of this lending protocol has been steadily increasing, with borrowing interest rates stable at around 0.41%. It has become a liquidity hub within the network, and user activity is quite robust. From the perspective of interaction heat, the market's actual demand is evident.

Looking at a horizontal comparison, the leading lending protocol on Ethereum, AAVE, has a market cap that is dozens of times larger than this project. This gap itself is worth pondering—whether it’s an underestimation or the market simply hasn't caught up yet.

Logically, the value of lending protocols tends to be amplified in a bull market. The more active the market, the stronger the arbitrage demand, and the more people are borrowing to bottom fish, leading to higher protocol fee income. These earnings will ultimately be reflected in the token's value.

From another perspective, the current buying opportunity might be similar to AAVE's early position in 2020. Major capital allocations are often silent, and by the time a consensus forms, it’s usually too late.

There are only two options now: either allocate some positions for long-term holding now, or wait until the ecosystem further prospers before chasing the high. Everyone should have a clear idea of this trade-off.