YEREVAN (CoinChapter.com) — Binance announced the spot listing of First Neiro on Ethereum (NEIRO), causing its price to surge by 700% within hours. The token’s market cap soared from $15 million to $146 million, with trading volumes spiking from $8 million to over $220 million in 24 hours. NEIRO, linked to the Shiba Inu breed that inspired Dogecoin (DOGE), has caught the attention of crypto enthusiasts.
The listing sparked confusion as Binance already offers a NEIRO token in its futures product. The new listing came with a different contract address, leaving traders puzzled about which version represents the “true” NEIRO.
Binance New Listings Announcement. Source: BinanceonX Community Backlash Over Binance’s Dual NEIRO Token Listings
The community reacted strongly to Binance’s decision to list two separate NEIRO tokens, one for futures and another for spot trading. The futures NEIRO token operates under the contract address 0xee2a03aa6dacf51c18679c516ad5283d8e7c2637, while the new NEIRO spot token has the contract address 0x812ba41e071c7b7fa4ebcfb62df5f45f6fa853ee.
Binance’s decision sparked backlash across social media. A user named @0x_degengod questioned the exchange’s logic:
“You’re listing two different Neiro on spot and futures?”
Trader Reaction to Binance’s Neiro Listings. Source: Degengod
Another user, @cozypront, expressed frustration, asking,
“How are you gonna list the 15M Neiro when you already have the 130M on futures?”
NEIRO Tokens Emerge Across Blockchains, But Kabosumama Stays Distant
NEIRO is a token inspired by Neiro, a Shiba Inu dog connected to Kabosu, the famous Dogecoin mascot. Kabosu, who passed away in May, left behind a legacy that included multiple tokens created in honor of the Shiba Inu breed. In May, Kabosumama, Kabosu’s owner, adopted Neiro, sparking the creation of multiple NEIRO tokens across various blockchains.
The creation of NEIRO tokens has been prolific, with NEIRO tokens emerging on Ethereum and Solana blockchains. Communities supporting these tokens still debate which version is the authentic one. Kabosumama, however, distanced herself from all NEIRO tokens and clarified in May that she does not endorse any of them.
Futures Listing Drops 41% as Traders Shift Focus
While the spot listing led to a sharp increase in the First Neiro token’s value, NEIRO futures experienced a significant downturn. NEIROETH futures dropped by 41%, as shown in the provided chart, following the announcement of the spot listing. The data indicated that trading volumes for NEIRO futures reached nearly $151 million in the past 24 hours. However, the price took a hit as traders shifted their focus to the newly listed spot token, with the market cap decreasing to $83 million.
NEIRO Token Price Plunge Post-Spot Listing. Source: CoinMarketCap
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