Coinbase has apparently listed up to 71% of the Memecoins with a market cap exceeding $500 million in the year 2024. Here is a detailed report on what are the memecoin trends on major crypto exchanges like Coinbase and Binance in the year 2024.
Binance and Coinbase: Comparison of Memecoin Trends in 2024
According to ai_9684xtpa’s statistics, Coinbase has added a total of 34 tokens to its listing roadmap this year, with only 7 of them being Memecoins, accounting for 20.58%. As high as 71% of the tokens have a market cap exceeding $500 million.
Ai_9684xtpa also touched upon the time distribution of Memecoins on Coinbase and Binance. According to the observation made, Coinbase has added a total of 34 tokens to its listing roadmap since 2024. Memecoins were launched mainly after October, with 7 launched at once. This time point is basically the same as Binance, which was exactly the time when the copycat market was sluggish and the local dog market was hot. Meanwhile, Binance has launched 14 Memecoins since October.
When it comes to preferences of blockchain, Binance has more than 60% of the memes listed distributed on Solana. On the other hand, Coinbase’s preference for Ethereum mainnet tokens accounts for 57%, while Solana and Base each account for 28.6%. There is also a BSC network. (Note that some tokens are deployed on both networks at the same time, so there is overlap in the proportion.)
The on-chain data analyst also said that on Coinbase, the market value of all listed tokens exceeds $100 million, and even 71% exceed $500 million. Currently, there is no situation like Binance listing NEIRO/ACT, which is a small market value token.
Statistics reveal that Coinbase is conservative about listing Memecoins but prefers ‘old faces’ when it comes to Memecoins, with the only exception being Moodeng.
The analyst wrote, “Since October, Binance has listed twice as many Memecoins as Coinbase, and the frequency is much higher. Coin listing style: Binance’s attitude towards Memecoins is obviously more positive and open, and it will actively embrace new tokens with high community popularity, even if their market value is relatively low.”
Summarizing the insights reflected in the stats, the analyst found that as a compliant exchange at the center of the regulatory storm, it is understandable that Coinbase is cautious about listing coins, given its regulation-compliant image, especially amidst rising regulatory challenges.
When it comes to ‘pull effect’ and ‘enhanced liquidity’, Memecoin’s listing on Coinbase is not as effective as listing on Binance or Upbit. However, the reputation of being listed on the largest compliant exchange in the United States does help Memecoins with being perceived as valuable.
Also Read: Dogecoin Price Prediction 2024 – 2050
