Solana has become the leader in the number of meme tokens placed on Binance since the beginning of the year

What’s new? Binance, the largest centralized crypto exchange (CEX), listed 15 meme tokens into 2024, 60% of which were launched on the Solana blockchain and another 26,7% on the Ethereum network. 73% were launched between August and November; 80% of the coins had a significant increase in capitalization after being listed on Binance, according to an analyst under the nickname ai_9684xtpa.

Source: X.com

What else is known? Of the 15 meme tokens that Binance has opened trading with this year, nine have been launched on Solana. The largest among them is Dogwifhat (WIF), it ranks fourth among meme coins on all blockchains and 39th on the overall list of cryptocurrencies by market capitalization with over $3 billion.

The asset was launched in late November last year and reached a capitalization of $1 billion in just 104 days. It was listed on Binance in early March. At the time of writing, the asset is trading at $3,02, having added 16% in a day. Monthly growth amounted to 9,21%, and since the beginning of the year, WIF has risen in price by 153,28%.

The next Solana token by capitalization is POPCAT. The asset ranks seventh in the meme token ranking and 70th on the overall cryptocurrency list with $1,6 billion. It is trading at $1,6, having added 10% overnight. Since the beginning of the year, it has grown by 961,27%.

Another notable coin on the list of analyst ai_9684xtpa is cat in a dogs world (MEW) with a capitalization of over $957 million. The asset rounds out the top ten meme tokens on all blockchains and ranks 101st in the overall cryptocurrency ranking.

Also on the list of Solana meme coins listed on Binance since the beginning of the year are MYRO, BOME, MOOEDENG, PONKE, MOG, and GOAT. The latter became a real sensation in the crypto space last month.

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Also included in the list are four Ethereum-based coins: TURBO, BABYDOGE, Neiro (NEIRO), and Neiro on ETH (NEIRO).

Another of the placed coins, BRETT, was launched on the Ethereum-based Layer 2 (L2) Base network from the leading US CEX Coinbase. The asset is among the top ten meme tokens and ranks 90th overall with a capitalization of $1,1 billion. It is trading at $0,1094, having added 7% in a day and 36,7% in a week.

A meme token based on the BNB Chain blockchain from the Binance team called Simon’s Cat (CAT) also made the list. The coin has a much more modest performance compared to its competitors: its capitalization is only $230,4 million. CAT is trading at $0,00003412, having lost 7% overnight, but has seen a weekly gain of 31,9%.

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At the same time, analysts noted that humorous coins were reaching high capitalization at a much higher rate than in previous years

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Since the end of last year, Solana has become a leader as a platform for launching humorous coins, helped by its high throughput and low transaction costs. In May this year alone, 455 000 new coins were added to the network, compared to Base and BNB Chain’s figures of only 177 000 and 39 000 respectively.

Last but not least, the PumpFun launchpad helps the Solana ecosystem to maintain its leadership position. With just a few clicks and for less than $2, anyone can issue a meme token using the fair lunch model, where all coins go into circulation at once. In June, PumpFun’s revenue hit a record of $28,73 million. In October, the record was updated to $30,5 million.

By mid-September, more than 2 million meme tokens had been launched on PumpFun alone, but only 92 of them were able to reach a capitalization of over $1 million.

In addition, total fees on the Solana network also set a new high of $69,11 million last month.

In the future, the main competitor of PumpFun may become the SunPump launchpad in Justin Sun’s TRON blockchain. The creator is actively promoting TRON as the best network for humorous coins, and the team is working to reduce fees.

Previously, analyst Colin Wu reported that meme tokens were the most profitable digital assets in the first half of 2024 with an average return of 2405,1%.