In 2024, Coinbase has added 34 tokens to its listing roadmap, with only seven classified as memecoins, making up 20.58% of the total.

Notably, 71% of these tokens have a market capitalization exceeding $500 million. This marks a stark contrast to Binance, which has listed 14 memecoins since October.

Coin Listing Trends and Timing  

Coinbase launched its memecoins primarily after October, aligning with a period of market downturns and renewed interest in niche markets like memecoins. While Binance also began its memecoin push around this time, its listing frequency is significantly higher, reflecting a more aggressive approach to such tokens.

Network Distribution  

Coinbase’s network preferences also differ from Binance’s. While over 60% of Binance-listed memecoins are on Solana, Coinbase exhibits no strong Solana bias. Instead, 57% of Coinbase’s memecoins are based on Ethereum, with Solana and Base each accounting for 28.6%. Binance Smart Chain (BSC) is also represented, though some tokens span multiple networks.

Listing Rules and Style  

Coinbase’s memecoin listings demonstrate a cautious and conservative approach:

1. Market Cap Threshold:

2. Delayed Launches: Most of Coinbase’s memecoins were listed at least a month after Binance.

3. Preference for Established Tokens: Apart from a newcomer, MOODENG, Coinbase has only listed tokens with proven market and community standing.

Comparing Impact  

Binance’s openness to newer, lower-market-cap tokens contrasts with Coinbase’s conservative stance. This difference significantly impacts post-listing price performance. Since Coinbase typically lists high-market-cap tokens, the immediate buying stimulus is limited compared to Binance.

While Coinbase’s cautious strategy limits short-term trading effects, its reputation as the largest U.S.-regulated exchange may offer memecoins greater long-term credibility and liquidity.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

Image Source: Vintage Tone/Shutterstock.com