The world’s first crypto exchange, Binancesaw significant price increases for most memecoins listed on its platform in 2024, with some coins experiencing exceptional growth shortly after their addition.
On November 11, 2024, an on-chain analyst revealed that of the 15 memecoins listed by Binance in 2024, 12 saw substantial value gains following their launch on the platform.
👩💻 2024 年已上线 Memecoin 项目盘点
Binance 2024 for 15 个 Memecoin, 80% off $NEIRO 涨幅甚至高达 7594%
以下是对发行网络 / 代币市值 / 涨跌幅和总体情况的详细拆解🧵👇 pic.twitter.com/hEOSUZMvND
– Ai 姨 (@ai_9684xtpa) November 11, 2024
MemeCoins such as:
- Moo Deng (MOODENG)
- DogWifHat (WIF), and
- PopCat (POPCAT)
saw prices increase by over 200% after listing on Binance, while memecoin Neiro (NEIRO) skyrocketed by almost 7,600% after going live on the exchange.
Despite the general upward price trend among memecoins listed on Binance, some tokens, including:
- Mog Coin (KITTY)
- Myro (MYRO), and
- meme book (BOME)
experienced declines following their registrations.
Specifically,
- MYRO fell 33.3%
- KITTY by 11.8%, and
- BOMÉ by 1.28%
The declines highlight that while Binance quotes can generate significant market interest, the performance of each token remains variable, influenced by factors such as market sentiment and specific token dynamics.
According to the onchain analyst,
- 60% of memecoins listed on Binance in 2024 were built on the Solana blockchain
- Another 26.7% were based on Ethereum, while
- The rest was split between Binance’s BNB Smart Chain and the core network.
Of the memecoins listed on Binance, only five are available for spot and futures trading, with Binance apparently cautious about adding more coins to spot lists.
The analyst observed that Binance’s listing criteria for memecoins may not include strict market value requirements. Instead, popularity and strong community support appear to be common factors among the memecoins chosen for listing.
Binance has already stated that it lists 1 (one) coin in 10,000 ever created, in fact, only 0.01% of all coins and tokens in the crypto space are listed on Binance.
(WATCH) Only 1 in 10,000 coins (0.01%) are listed on Binance, CEO says @cz_binance @binance https://t.co/Fi5F0kXSIe @BinanceAfrica
–BitKE (@BitcoinKE) January 1, 2022
“We try to list the projects that seem solid to us. We look at several measures to prevent people from changing user counts, but we try to select the best projects in the industry. » said the company’s former CEO at the time.
See also
Despite this strict listing strategy, Binance has retained its position as the world’s largest crypto exchange in the middle increasing competition.
$GRT #GRT 🚀 #GRTCommunity 🌐
“Other notable holdings on Coinbase include 930 million GRT (The Graph)”REPORT | Binance and Coinbase continue to dominate the crypto industry with the largest supply statistics in 2023 – https://t.co/lwR9rGqhUW
— Planning for Web3 (@web3planning) January 17, 2024
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