More crypto exchanges list PEPE following trading frenzy

May 1, 2023 Coin Telegraph

The price of the memecoin has surged by over 2,000% in the past two weeks.

On May 1, cryptocurrency exchange OKX announced that it would be listing memecoin Pepe (PEPE) at 17:00 Hong Kong Time (HKT) and open Pepe withdrawals on May 2 at 17:00 HKT. In supporting the listing decision, OKX staff wrote:

“Pepe the Frog is a cartoon character and internet meme created by cartoonist Matt Furie. Pepe was designed to be a green frog with a human-like body; this is one of the most popular memes in the world.”

Several cryptocurrency exchanges, including MEXC Global, Bitget, Gate.io and Huobi, listed Pepe trading pairs two weeks prior, stirring what appears to be a trading frenzy. The token has returned 2,340% since April 17 and is now trading at $0.000001223 apiece at publication. Following news of the OKX listing, Pepe’s price has surged over 50% in the past 24 hours.

Created on the Ethereum blockchain by anonymous developers, the Pepe token was created, according to CoinMarketCap, “as a tribute to the Pepe the Frog internet meme,” with the aim of capitalizing on the popularity of memecoins such as Shiba Inu (SHIB) and Dogecoin (DOGE).

In 2021, DOGE surged by over 23,000%, partly due to American business magnate Elon Musk’s vocal support for the coin on social media. Similarly, SHIB surged by over 1,250% during the 2021 cryptocurrency bull market after gaining tailwind popularity from its sister Dogecoin token. Despite the recent traction, OKX staff wrote in its Pepe listing announcement:

“Digital assets are innovative investment products with high price fluctuations and risks. Before investing, [OKX] hopes you have a full understanding of digital assets, rationally judge your investment ability, and make investment decisions prudently.”

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Coinbase to increase transparency on potential 2022 listings

April 12, 2022 Coin Telegraph

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The exchange issued the names of 50 projects that could possibly be listed in the second quarter of 2022 as a way of adding information symmetry to crypto markets.

America’s largest crypto exchange, Coinbase, announced a long list of tokens it could potentially list in the second quarter of 2022 in an effort to increase transparency.

An April 12 blog post from the exchange includes a list of tokens under consideration, but notes that other tokens may be under consideration but not specifically mentioned. Among those on their radar are 45 ERC-20 tokens on the Ethereum (ETH) network, and five SPL tokens on the Solana (SOL) network.

Some of the tokens with a relatively large market cap are Binance USD (BUSD), which is the third-largest stablecoin on the market, and one of the largest DAO projects BitDAO (BIT) which boats a market cap of just over $1 billion at the time of writing according to CoinGecko data.

The exchange stated that its new approach toward token listings will also provide “as much information symmetry as possible.” Information symmetry promotes efficiency and fairness within a market.

It also reduces the chances for a pump and dump scenario on listing day as the retail trading frenzy can be mitigated by advanced knowledge of a listing. While it is far more common on other centralized and decentralized exchanges, Coinbase has had its share of such price action on coins it lists. In 2020, OMG Network (OMG) pumped 200% within 15 minutes of being listed on Coinbase and crashed moments later.

Crypto projects are aware of the attention a Coinbase listing, or even just the potential one can bring. The relatively small decentralized finance (DeFi) data tokenizer Big Data Protocol (BDP) with a $3.3 million market cap according to CoinGecko tweeted delight today that Coinbase was giving it looks at potentially being listed.

However, while the increased transparency may be a boon for investors and projects, the seasoned crypto trader from Twitter account @12yearoldwithcc believes the potential listings are lackluster. The account tweeted today that “Coinbase is in their flop era.”

Coinbase is in their flop era pic.twitter.com/4T6SFehSFG
— 12 year old with a credit card (@12yearoldwithcc) April 11, 2022

Other investors may not even have noticed Coinbase’s new transparency efforts yet as many are focused on the exchange’s intention to produce a series of three films about the Bored Ape Yacht Club (BAYC) nonfungible token (NFT) collection.

Some in the crypto community are perplexed by the $10,000 deal Coinbase has offered BAYC holders for the rights to use their ape in the films, with some even warning that they should not accept it.

In all, it has already been a turbulent week for the exchange as it launched trading services in India for the first time on April 8 but abruptly suspended buy order services under pressure from local payment service regulators on April 11.

Binance CEO reveals one key factor for token listings

November 30, 2021 Coin Telegraph

Binance

The number of users plays a critical role for a token to get listed on Binance, Changpeng Zhao said in an interview.

The CEO of Binance, the world’s largest cryptocurrency exchange by volume, has disclosed some information on how to get listed on the trading platform.

The most important criteria for listing a cryptocurrency on Binance is the number of users, CEO Changpeng Zhao said in a Forbes interview on Nov. 29.

CZ went on to say that there are many other factors like the number of active addresses on blockchain, social media audience and code commits. However, the number of users is “the key metric,” he said:

“If a coin has a large number of users, then we will list it. That’s the overwhelming significant attribute. Consider for example meme tokens, even though I personally don't get it, if it's used by a large number of users we list it. We go by the community, my opinion doesn’t matter.”

According to Binance’s listing tips from its CEO, the number of users is just one of many factors for listing a token on the crypto exchange. “If you have a large number of users, your product has value. That’s the easiest to measure. Do include the user statistics in the application form. It will help significantly,” the CEO’s statement on Binance listings reads.

According to Sergei Khitrov, founder of crypto listing-focused platform Listing.Help, major crypto exchanges like Binance don’t need to list minor tokens as they earn mainly from trading volumes rather than listings.

“This is one of the main problems that many projects do not understand. They should start with building a community. And that means no 500 or 10,000 people in a Telegram channel, but a much larger audience,” Khitrov told Cointelegraph. He added that token creators are recommended to start from smaller exchanges.

At the time of writing, Binance exchange supports a total of 346 cryptocurrencies, including major cryptocurrencies like Bitcoin (BTC) and Ether (ETH), as well as popular meme tokens like Dogecoin (DOGE) and Shiba Inu (SHIB), according to data from CoinGecko. Binance’s daily trading volume is estimated at $28 billion.

In comparison, OKEx, the second-largest crypto exchange by trading volumes, has listed 312 coins and has a trading volume of roughly $7 billion. The United States-based crypto exchange Coinbase supports just 123 tokens with a daily trading volume of about $6 billion.

Some major centralized exchanges (CEX) have more tokens listed than Binance does, with Bittrex listing over 450 cryptocurrencies at the time of writing.

As opposed to a CEX, decentralized exchanges (DEX) are the world’s biggest platforms in terms of the number of listed cryptocurrencies as DEXes like PancakeSwap do not require contacting an exchange or asking permission. As such, PancakeSwap, a DEX running on the Binance Smart Chain, has over 3,200 listed tokens, while Uniswap lists over 1,800 cryptocurrencies.

Last month, PancakeSwap listed the Squid Game (SQUID) token, a cryptocurrency scam inspired by the eponymous Netflix show, which posted over 45,000% growth in a few days after launch. The token is listed on Binance-owned crypto website CoinMarketCap, while competitors like CoinGecko retracted from listing SQUID due to being “most likely a scam.”

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