Binance is accelerating the launch of perpetual futures for hot meme tokens, the latest being Mogcoin, which immediately triggered a price rally.
Expanding Meme Token List
Binance is expanding its list of meme tokens added with perpetual futures, cautiously avoiding spot listings. Currently, the platform offers futures markets for 10 meme tokens, allowing traders to explore financial opportunities without needing to hold reserves.
Mogcoin Features
The latest token added was Mogcoin (MOG), a long-running Ethereum meme with cycles of peaks and drawdowns. Mogcoin was added just days after opening a market for Ponke (PONKE) and continued the animal token trend. Binance also offered contracts for POPCAT and MEW. MOG is considered a community token with over 88,000 followers and 34,000 owners on the Ethereum network.
Trends on Binance
Following the trends in meme tokens, Binance adds not only popular but more sustainable assets to its list. Over the past weeks, the exchange formed a list of influencer-driven tokens like MYRO, RATS, MEW, and more. Despite partial overlap with influencer Murad Mahmudov's recommendations, the exchange strives for stability and predictability.
The expansion of futures markets for meme tokens allows Binance to offer active trading and higher fees for market participants. This strategy may continue with new markets for a range of sought-after tokens.
