Binance Holdings Ltd., the world’s leading cryptocurrency exchange by daily traded volume and globally registered users, has announced the listing of three more meme coins. The projects that have been recognized by Binance include Turbo (TURBO), Neiro (NEIRO), and Baby DogeCoin (BabyDoge).
According to the announcement, Binance will list these three meme coins with Seed Tags applied to their respective pairs, including with Tether USDT. While trading for these meme coins begins today, the cryptocurrency exchange has indicated that withdrawals will be available starting Tuesday, September 17.
Why Listing on Binance Matters
Being listed on Binance exposes crypto projects to a massive user base of over 220 million globally registered users. While some experts might argue that listing on Binance could be seen as an exit liquidity strategy, the overall impact is generally bullish. This is because Binance is licensed to operate in more than 19 jurisdictions and offers deep liquidity provisions, which can greatly benefit the listed projects.
Additionally, trading bots and spot copy trading functionalities can access these newly listed meme coin projects, providing further trading opportunities and liquidity.
Market Impact
Following Binance’s announcement, the three meme coin projects showed notable gains despite the prevailing bearish sentiment in the broader cryptocurrency market.
Neiro (NEIRO)
Neiro saw an impressive price rally of over 440 percent in the past 24 hours, trading at approximately $0.000245 at the time of this report. With a fully diluted valuation of about $103 million and a daily average traded volume of around $43 million, Neiro has entered price discovery territory.
Baby DogeCoin (BabyDoge)
Baby DogeCoin also experienced significant gains, with its price pumping over 55 percent in the past 24 hours to trade above $0.00000000165 as of Monday during the early European session. With over 1.87 million Baby DogeCoin holders, the project is expected to benefit significantly due to its notable liquidity of over $22 million.
Turbo (TURBO)
TURBO witnessed a price rally of over 17 percent in the past 24 hours, trading around $0.000438 at the time of writing. The listing on Binance is likely to provide further momentum for this meme coin.
In conclusion, the listing of Turbo, Neiro, and Baby DogeCoin on Binance is a significant development that exposes these meme coins to a broader audience and deeper liquidity. This, combined with the immediate market gains observed post-announcement, positions these projects for potential future success.
