The PHNIX meme coin, launched on the XRP Ledger, has landed on its first major centralized crypto exchange.
On December 27, the Phoenix team announcement This MEXC crypto exchange has listed PHNIX. The move makes the exchange the first major CEX to add spot trading for the meme coin:
“A historic milestone was reached on the $XRP Ledger today: $PHNIX is the first XRPL memecoin to be listed on a major CEX!
The PHNIX token was launched on December 3, amid new interest in meme coins on the XRPL blockchain. PHNIX is a token that appears to symbolize the rise of the phoenix, a perspective of XRP (XRP) and the Ripple community joins the blockchain project.
Prior to its listing on MEXC, the meme coin was only available on XRPL’s decentralized exchange platform, FirstLedger. MEXC listed the PHNIX/USDT pair, which saw 6.16 billion tokens worth over $425.63K traded in the last 24 hours. The price of the coin itself jumped over 116% during its listing. PHNIX has a maximum supply of 589 billion.
Rise of XRPL meme coins
PHNIX embodies the recent rise of XRP after Ripple overcame legal hurdles from the United States Securities and Exchange Commission. In July 2023, a US judge ruled that XRP is not a securityand over the past two months, the cryptocurrency has soared amid bullish expectations.
The XRP community considers the PHNIX meme coin as a mascot.
Besides PHNIX, the Ripple blockchain network has a number of prominent meme coins.
These include ARMY, 589, XPILL and RIPPIE. The ARMY token, which has been around for over a year, is among the first meme projects to inspire the XRP community. Notably, this is linked to the popular “XRP Army” reference to holders of the XRP token.