Binance has announced the results of its first community listing vote. The exchange will list four meme coins tomorrow. Since only two were expected to be listed, the values of BROCCOLI, Tutorial, and BANANAS31 have surged.
However, Bananas for Scale only saw a slight increase, and Mubarak plummeted. This suggests a fatigue in the meme coin market or that CZ-related assets may find it more difficult to enjoy market popularity as before.
Binance Concludes First Community Listing Vote
The world's largest cryptocurrency exchange, Binance, is trying a new solution to determine token listings. After the Pi Network listing vote, the company has adopted a vote-based system for listing and delisting.
Binance's first listing vote started last week, and today, the company announced the winners:
"After the listing vote results and due diligence, Binance will list Mubarak (MUBARAK), CZ'S Dog (BROCCOLI714), Tutorial (TUT), Banana For Scale (BANANAS31) and start trading on the following spot trading pairs on 2025-03-27 21:00 (UTC)." – Binance claimed in their press release.
Initially, Binance claimed that only two would be listed in the first vote, but four are receiving this benefit. Generally, tokens surge when listed on Binance, and this trend largely continued today.
Three out of the four meme coins performed well, with Broccoli named after CZ's dog.
BROCCOLI rose by 65%, Banana for Scale increased by 11%. Tutorial performed the best, gaining over 200% in value.
However, the emerging meme coin Mubarak actually declined after Binance announced its victory in the vote. While still recording net gains over the past 24 hours, this immediate drop suggests the news was already priced in.
Is the Community Tired of Meme Coins?
Despite prominent social media buzz, Mubarak's price has mostly stagnated over the past 10 days since its release 11 days ago. The meme coin market shows signs of fatigue, and Binance's vote may not be enough to change this.
Some social media users pointed out a simpler explanation. Three of the four voting winners are related to or connected to CZ, the former CEO of Binance. This could limit the broader market appeal of the assets.
It's important not to overstate this. While Mubarak declined after the announcement, it was still expected to be listed. In fact, most winners performed okay, though BANANAS31's 11% increase is particularly uninspiring.
If Binance continues the listing vote as planned, fewer winners and more unique offerings could help prevent investor fatigue.
