Binance's approach to listing coins is now very clear. The strategy essentially won't harm exchange users.

1. New narrative, leading projects, high market capitalization, strong consensus with over 10,000 addresses. Hot projects consume too much capital and cannot be controlled, go for contracts.

2. Secondary leaders, have undergone an 80% adjustment, possess a certain community presence, can acquire a large amount of capital, below 50 million USD (with less than 10,000 addresses, and recently two market caps of 20 million, ACT, neiro), go for spot.

3. Hot projects with high narrative ceilings, supported by major KOLs who have previously endorsed them, have gone through certain adjustments, with over 10,000 addresses. Market cap of 100 million USD, for example, pnut.