Former Binance CEO Changpeng Zhao has confirmed that he has no plans to list a meme coin associated with his brand for now. However, Zhao feels that other leaders will now start tapping into the meme coin market. Binance, like most exchanges, has announced the listing of the project.
With the listing, Binance has gone against seeking out utility tokens, since it is an official token and can be easily verified. The launch has also been predicted to birth a new array of tokens, with El Salvador’s Nayib Bukele and Argentina’s Javier Millei prime contenders. Other celebrities in this class include popular celebrities MrBeast and pop musician Taylor Swift.
Celebrity meme coins see faster listings
The connections of celebrity tokens put them at the top of the pile when it comes to listing. For instance, TRUMP and MELANIA saw fast-tracked additions to Hyperliquid after they were launched. Coinbase also added TRUMP to its roadmap, with the exchange noting that listing is coming soon.
MELANIA also saw a listing on Binance Futures, with its listing on the spot market not coming anytime soon. The Coinbase listing means that United States users are now trying to buy the token, with traders already trading different arrays of ‘Made in USA’ tokens on Solana.
Fan tokens enjoy a boost from TRUMP’s launch
Before TRUMP was launched, the market was awash with different types of fan tokens, although with limited ties to the actual celebrities. For instance, the Cardi B WAP token, which has endured several allegations of insider trading, Andre Tate’s DADDY token, which has seen limited ties to the public figure, and the Hailey Welch-endorsed token, which later became a rug pull.
Overall, celebrity-tied tokens represent a small volume of the crypto industry, with a total market cap of around $76M. Fan tokens also saw quite a boost after the launch of KEKIUS, a token that was launched after Elon Musk swapped his display name on X. Football fan tokens too were present, with more stability than some celebrity tokens.