This year, the memecoin market is experiencing a spectacular surge. According to on-chain analyst Ai_9684xtpa, 12 of the 15 same cryptos listed on Binance this year in fact saw their prices soar as soon as they went online. We'll tell you more in the paragraphs that follow!
Listing on the Binance crypto exchange: What effects on memecoins?
There listing on Binance triggered a price surge for a large majority of memecoins. Little-known crypto assets like Moo Deng (MOODENG) and Popcat (POPCAT) have seen increases of more than 200%.
According to on-chain analysis, about 80% of memecoins benefited from the visibility offered by the listing on the Binance cryptographic platform. However, some crypto-assets have not been so lucky. This is particularly the case for MYRO which fell by 33%. MOG and BOME also saw depreciations of 11.8% and 1.28% respectively.
There blockchain crypto Solana establishes itself as a leader for listed memecoins. The latter represent 60% of the tokens, while 26.7% are based on Ethereum. This trend highlights the growing adoption of Solana. This provides memecoins with a fast and inexpensive alternative when it comes to transactions.
Binance, for its part, remains cautious on spot quotation with only five memecoins available in spot and futures trading.
Political crypto memes drop after Trump's election
At the same time, memecoins linked to politics suffered a major blow after the 2024 US presidential election. crypto tokens inspired by Donald Trump in fact fell by more than 50% in the days following his victory.
This turnaround shows that the value of these digital assets can also fluctuate depending on global political events.
In any case, the rise of memecoins shows a constantly evolving crypto market.
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