Binance’s Most Searched Tokens Show Shifts in Crypto Trends
24d ago•
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The most searched tokens on Binance offer a mix of meme hype and leading blue-chip assets. Traders were interested in Bitcoin (BTC) and Ethereum (ETH), as well as in protocol tokens like TRON and NEAR. The third biggest category was meme tokens, with Pepe (PEPE) taking the lead.
New data shows that the searches reflect recent market trends, including the PEPE all-time high and the launch of Notcoin (NOT) tokens.
The new status among the top searched tokens is a change of fortune, especially for PEPE. Due to volatility, PEPE was put on a monitoring list in February, with the potential for a delisting. PEPE no longer has a Monitoring tag after boosting trading volumes since the start of 2024.
Some of the new tokens are also highly dependent on their Binance pairing, which accounts for the bulk of their trading volumes. The inflow of investors in one trading pair can cause more dramatic price rallies.
Also read: Binance Reconsiders Rules for Token Launch, Insists on Quality for New Listings
The recent most-searched list is a market snapshot reflecting the current trend. In the past, booming tokens have been included briefly and forgotten. On Binance, leading coins are still the most widely traded, with BTC, ETH and Solana (SOL) having the highest volumes.
Binance Expects New Token Listing Wave
Binance lists more than 350 tokens in various tiers, with some limitations. The exchange provides decentralized liquidity pairs and the option to trade smaller niche assets using PancakeSwap.
The Binance centralized exchange has also hinted at expanding its listings. Not all tokens achieve the same high profile or exposure, but Binance has helped build multiple brands.
Binance modified its listing criteria to discourage projects with significant treasuries and early VC buyers, possibly resulting in a delay for the new listing wave.
Binance is also regrouping after its co-founder and CEO Changpeng “CZ” Zhao received a four-month sentence for violating US money-laundering laws.
Also read: Binance founder CZ expresses gratitude amid legal battles
The market makes its rules stricter, and many minor projects strive to be listed.
Will Binance Add One More Meme Asset?
After Binance specifies its new low-float token rules, meme coins fit precisely. There are no treasuries or allocations for all meme tokens, as the community fully distributes them.
Binance carries the new crop of meme tokens that appeared in the past two years, in addition to the original Dogecoin (DOGE).
Now, another campaign is rising to list DOG, an unfamiliar type of asset. DOG is a meme asset but also the most successful Bitcoin Rune so far, achieving outstanding gains similar to those of other meme tokens. Binance has not given any hints of listing Runes, which traded at rock-bottom prices until a few weeks ago and were seen as a novelty.
Also read: Runes are Taking Off: Bitcoin-Based Tokens Get Performance Boost on Exchanges
Binance has not explicitly promised to list Runes, but has posted educational content on this new token type. Binance’s portfolio has followed trends, but when will they deal with Ordinals, Runes, or RGB assets?
Runes has already reached a market cap above $1B, accelerating the talk of more listings.
Volatile Tokens on Binance Still Hold $4B Capitalization
While Binance often expands its listing, it also has a long list of highly volatile tokens on a monitoring list.
The list includes the FTT token of the now-defunct FTX exchange, but also formerly hot assets that fell out of favor. A Binance listing will not guarantee liquidity or interest, and some of the new hot assets may be short-lived.
Cryptopolitan reporting by Hristina Vasileva
24d ago•
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