- Binance added 17 memecoins in 2024, with strong gains across most tokens and diverse blockchain representation.
- Memecoin market cap on Binance exceeds $100 million, highlighting growing interest and adoption in crypto communities.
According to crypto enthusiast Ai, Binance has emerged as a key participant in the memecoin market by 2024, with 15 memecoins listed for futures and spot trading. Of these coins, eighty percent have seen a notable market cap increase following platform listing this year alone.
Especially after its Binance launch, NEIRO’s value shot an incredible 7,594% to grab the interest of the crypto community and show the great promise of memecoin markets.
更新：上午刚发完汇总，下午就有新消息了hh
截至目前，币安上线 Memecoin 数量更新为 17 个， $ACT 和 $Pnut 均为 Solana 代币，成为币安今年上线的第六和七个现货 Meme，目前市值和涨幅情况如下
– ACT：市值 2.73 亿美金，短时涨幅 1199%
– Pnut：市值 3.39 亿美金，短时涨幅 208%图片更新如下👇 pic.twitter.com/pm2dWpd71a
— Ai 姨 (@ai_9684xtpa) November 11, 2024
Animal-Themed Memecoins Dominate as Solana Leads in Blockchain Choice
Reflecting a tendency in the creative decisions of the market, 80% of the 15 mentioned memecoins have embraced animal-themed memes. Of them, 60% run on the Solana blockchain, 26.7% on Ethereum’s mainnet, and the rest on Binance Smart Chain (BSC) and Base. These network distributions fit the larger memecoin trend space for this year.
Furthermore, indicating a seasonal spike, most of the memecoins shown on Binance—about 73%—were introduced between August and November. Only five of these memecoins, meanwhile, were concurrently accessible for spot and futures trading, implying a restrained approach by Binance on spot trade listings.
With WIF holding the greatest market capitalization at $2.51 billion and NEIRO representing the lower end at about $102 million, the total market cap of all active memecoins on Binance has already topped $100 million. Though most of these memecoins have seen notable increases, some have not.
Among the three tokens whose market cap has somewhat dropped following the list-off are MOG, BOME, and MYRO. This variety shows the several receptions and performances among these tokens.
Inclusive Listing Approach Spurs Positive Market Reactions
Given no clear market cap criteria for inclusion, Binance’s method of listing memecoins seems rather inclusive. From tokens with market capitalization as low as $15.49 million to those skyrocketing to $881 million, this open-minded approach emphasizes Binance’s focus on community engagement and market demand rather than merely token worth.
Analyzing K-line data shows clearly how Binance listings affect memecoin performance. Tokens usually show a strong positive line in their price charts based on Binance’s listing announcements, which indicates instant interest and a rise in trading volume.
Moreover, a clear tendency for investors tracking memecoin development is the long-term impact of spot listings usually having a more continuous favorable effect on token prices.
New Solana-Based Tokens Boost Binance’s Expanding Memecoin Portfolio
With two new Solana-based tokens, ACT and Pnut, the sixth and seventh memecoins introduced on the platform this year, the current count of memecoins listed on Binance has now risen to 17.
With a short-term gain of 1,199%, ACT’s market cap has climbed to $273 million; Pnut’s market cap, on the other hand, marks a 208% growth following list-off. These additions highlight the possibilities of this blockchain and show Binance’s increasing dedication to the Solana ecosystem.
According to CNF, the memecoin market is growing significantly; its market share will rise from 0.87% in 2022 to 2.58% in 2024. Tokens with animal and cult themes are becoming more and more popular, and their long-term potential is clearly greater.
Memecoins have now exceeded the scale of numerous other crypto market categories, with an average daily trading volume of over $5 billion and a total market value of almost $50 billion.
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