Binance Launches Second Round of Token Listing Vote
Listed Tokens and Market Cap Overview
According to official news, Binance has opened its second round of token listing vote, running until April 10th. Users can participate in voting on Binance Square, and winning projects will be listed for spot trading after review. Candidate tokens include: VIRTUAL, BIGTIME, UXLINK, MORPHO, GRASS, ATH, WAL, SAFE, ZETA, IP, ONDO, PLUME, totaling 12 popular crypto projects.
Unlike the first round, which mostly featured meme projects from the BNB Chain ecosystem, this round's candidate tokens cover multiple tracks such as AI, DeFi, infrastructure, and RWA. This may indicate that the voting listing mechanism could become one of Binance's normalized listing methods. As of writing, based on on-chain data, the second round of candidate tokens' unit prices, circulating market cap, and fully diluted market cap are as follows:
Overview of Second Round Candidate Token Secondary Data
It's not difficult to notice that compared to the first round of listing vote candidates, this round's tokens generally have higher market caps. Among them, ONDO's current circulating market cap has reached as high as $2.4 billion, ranking first among all candidate tokens. Even BIGTIME, the lowest market cap token, has already exceeded $100 million. This also indirectly shows that Binance is more inclined to choose mid-sized projects with certain market foundations and user consensus in this round, to further enhance the attention and community competition of the listing activity.
How to Participate
Any real user who holds at least 0.01 BNB can participate. The voting process is simple: first, find the "Square" in the Binance "Information" section, then locate the Binance Square Official account and find the "Vote" in the pinned content, and finally choose your favorite project among the 12 candidates in the second phase.
Review of Binance's First Token Listing Vote
According to official information, in the first round of voting, BANANAS31 (19.4%) and WHY (18.8%) ranked first and second. Surprisingly, WHY was not included in the final listing, and instead, Binance listed four projects at once: MUBARAK, BROCCOLI 714, TUT, and BANANAS31, exceeding most users' expectations.
In terms of price trends, constrained by the current overall market downturn and factors such as insufficient liquidity and lack of strong narrative support, the projects listed on Binance did not bring a significant "wealth effect". Among them, MUBARAK, the meme project with the highest heat during the voting phase, saw its price decline after listing.
After the second round of listing vote on April 10th, it remains to be seen whether Binance will continue the approach of the first round by listing four projects or make adjustments based on this round's situation. Additionally, what will be the relationship between listed tokens and voting rankings? Odaily will continue to follow and bring the latest reports.
Off-site "Vote Buying" Hotter Than First Round
Despite the short-term market performance of the first round of listed tokens not being ideal, being listed on Binance spot trading is still widely seen as a powerful endorsement and liquidity boost. Once the market recovers, the potential profit space could be significant. Because of this, even with the current overall market sentiment being cold, the listing vote phase continues to attract much attention, with ongoing "vote buying" operations.
The enthusiasm for this round of voting even exceeded the first round. According to feedback from multiple off-site trading users, the demand for this round of voting has significantly increased, and the market price for "buying votes" has also risen—first-round prices mostly remained around $5, while this round has generally increased to $7, with bulk sales potentially reaching $7.5 or higher.
Moreover, the projects IP, ATH, and SAFE have not only received support from many KOLs in community media but also have exceptionally strong off-site "vote buying" demand.
The "Self-Governance Experiment" of Listing Vote Remains in Exploration Stage
Finally, let's look forward to the future direction of Binance's listing vote mechanism, which might present three distinctly different scenarios.
In the most ideal situation, community members would vote based on genuine consensus, promoting truly promising projects; simultaneously, the platform's anti-cheating mechanism would effectively curb vote-buying behavior, thereby creating a governance model for the industry.
In a more pessimistic scenario, large holders might manipulate voting results, pushing inferior projects onto the trading platform; some speculators might even profit by shorting all candidate projects, potentially causing large-scale drops in small and medium-cap tokens and disrupting market order.
More likely is a complex and blurry intermediate state: while occasionally selecting promising quality projects, vote-buying and other fraudulent behaviors would still occur, forcing Binance to continuously revise mechanisms and optimize rules to maintain voting credibility and participation.
Overall, this "self-governance experiment" of listing vote is still in the exploration stage, and its success will directly impact Binance's openness in listing mechanisms and community participation models.
Welcome to join BlockBeats official community:
Telegram Subscription Group: https://t.me/theblockbeats
Telegram Discussion Group: https://t.me/BlockBeats_App
Twitter Official Account: https://twitter.com/BlockBeatsAsia
