Here’s Why Momofun (MM) is Up Almost 200% Today

Binance Alpha, a premium arm of the Binance ecosystem, has officially listed Momofun (MM) for trading. This development propelled the token to an all-time high of $0.004974 earlier today before it relinquished some gains.

According to data from Coingecko, Momofun (MM) trades at $0.004784, representing a 73% increase in the last 24 hours. This surge was backed by high trading activity, signalling rising market interest and activity. On-chain data shows an impressive 167.10% surge to more than $29 million. With a market cap exceeding $37 million, Momofun (MM) circulating supply is approximately 7.8 billion tokens.

Momofun (MM) Sees Increased Market Interest 

The Momofun (MM) listing on Binance Alpha opened access to a large, vetted user base, increasing the token’s visibility and liquidity. For context, Binance Alpha was launched to spotlight and incubate early-stage crypto projects. It is a curated showcase of promising, experimental tokens not yet listed on Binance’s main exchange. The tokens may be considered for future listings based on performance, community interest, and project development.

Meanwhile, the latest launch featured a limited-time airdrop for early supporters, designed to encourage initial engagement. Eligible users include wallets that have submitted meme ideas or participated in the meme creation process on the platform. Additionally, on-chain participants who interacted with the project through trading or other activities can benefit from the airdrop.

“If you’ve previously submitted a Meme or participated in trading but didn’t receive an airdrop, feel free to comment your wallet address below. We’ll review the data to ensure every true supporter is rewarded. This is just the beginning of the MemeFi journey. Let’s create a new narrative for meme assets — together,” said the platform.

Users raced to join early since the airdrop incentivised fast participation with eligibility decreasing hourly. This combo of exclusivity and immediate reward fueled a rapid spike in volume and FOMO-driven demand. Apart from Binance Alpha, Momofun (MM) recently debuted on other platforms. Crypto exchanges LBank and WEEX have officially listed the token on their platform.

Users can buy, sell, and trade the token directly on these platforms, significantly increasing accessibility. These listings open the asset to a broader global audience, potentially driving higher trading volume and increased price activity.

About Momofun

Momofun is an AI-driven Meme and DeFi issuance platform that positions itself as a hub for creative and financial experimentation. Built on the BNB Chain, it offers tools for asset issuance, community incubation, and on-chain token creation. It also integrates memecoin culture with decentralized finance.

Its core team allegedly includes former talent from Bybit, Binance, OKX, and Tencent, backed by Mantle, Ecofund, Bybit, and HashKey. 

Given the impact of Binance Alpha listings and the competitive structure of the airdrop, Momofun (MM) launch attracted significant market attention.

Nonetheless, users are advised to conduct thorough research and invest with caution due to certain risks associated with the project. According to a crypto enthusiast, the team behind the project retains freeze and mint authority. This level of control poses centralization risks and potential for abuse or rug pulls. Furthermore, the liquidity pools used for trading are not locked in a smart contract.

The post Here’s Why Momofun (MM) is Up Almost 200% Today appeared first on Cointab.