Why doesn't Binance support MEME coins?
In fact, the more popular on-chain transactions are, it is not necessarily a good thing for Binance. Now platforms such as Pump and Moonshot are developing too fast, grabbing a lot of market share from Binance.
The more meme coins on Binance, the better Pump and Moonshot will develop, because everyone expects these coins to be "listed on Binance". Binance certainly doesn't want to make wedding clothes for competitors.
If Binance continues to take over meme coins, everyone will buy projects on Moonshot, because these projects have low market capitalization in the early stage, waiting for them to be shipped after listing on Binance. In this way, Moonshot may challenge Binance's position.
However, once the trend of on-chain meme coins rises, it is not easy to change it.
Since April, no one has taken over VC coins, even the king Eigen. Then what happened?
The on-chain meme coin market began to explode, and trading platforms such as GMGN, Dexx, and PumpFun made a lot of money, and the number of users of the new platform Moonshot is also growing.
Previously, Binance did not support Pump's coins, but later supported it for the sake of users and traffic, which made Pump enter the mainstream.
With the development of on-chain meme coins, people found that the popularity and funds on the chain are increasing, and on-chain transactions have gradually become the main narrative of this bull market.