Binance CEO calls the conditions for the listing of meme tokens on the exchange

Changpeng Zhao said that if the cryptocurrency does not disappear from the market in two weeks, the platform is likely to list it

04.05.2023 - 09:00

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2 min

What’s new? Changpeng Zhao, CEO of the Binance crypto exchange, said that he “personally never really understood meme coins,” while acknowledging their popularity among some influential people, including Tesla and Twitter CEO Elon Musk. The platform rates coins based on user engagement, trading activity, and overall demand, he said. So if a cryptocurrency does not disappear from the market in two weeks, Binance is likely to list it, Zhao told on Twitter Spaces on May 1.

Information on the Binance website

What else did Zhao say? The head of Binance explained that he could not comment on specific listings or projects because there was a lot of potential for accusations of insider trading, leaks, or other problems. He cited strict policies, stressing that project teams with whom Binance communicates about listings are also forbidden to disclose anything.

Zhao said that he intentionally does not participate in the process of listing and promoting meme tokens on Binance due to a lack of time and unwillingness to get involved. The businessman added that the exchange has an independent team for that purpose.

He stressed that Binance is not opposed to any cryptocurrencies, noting that Shiba Inu (SHIBA) meme token is available on the platform, and the trading volume of the asset is quite high. As of May 4, 08:10 UTC, the asset is trading at $0,00001, having added 0.4% IN 24 HOURS. The asset ranks 16th in the cryptocurrency ranking with a capitalization of $5,9 billion.

New meme tokens. On May 1, the rate of the PEPE coin increased by 130% after listing on the OKX exchange. The developers position the asset as a competitor of meme coins, the mascot of which is a dog of the Shiba Inu breed: SHIB, DOGE, FLOKI.

On May 2, the weekly growth of the WOJAK meme token exceeded 570%. The sharp increase in the value of the coin occurred after the project’s team announced the release of the second NFT collection for the community on May 1.

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