Binance surprised with four memo cinema: Community vote leads to inconsistent course reaction

<p> <strong> Binance surprised with four memo cinema: Community vote leads to inconsistent course reaction </strong> </p>

Binance publishes the results of the first community listing vote

Binance, the world's largest cryptocurrency exchange, has announced the results of its first community listing vote. Instead of the two tokens originally announced, four memoins were listed: Mubarak (Mubarak), Cz’s Dog (Broccoli714), Tutorial (Tut) and Banana for Scale (Bananas31). This decision ensured mixed reactions in the community.

High price gains of the winners

After the winners were announced, the courses from Broccoli rose by 65 %, while Bananas31 increased by 11 %. Tutorial was particularly successful, the course of which increased by over 200 %. In contrast, Mubarak fell back, although the token had a significant increase in the 24 hours earlier. The decline could indicate that the good news was already priced in the courses.

The first listing vote by Binance started a week ago. The company introduced this coordination -based system to the listing of PI Network after the vote to make the decisions about listings and delistings more transparent. Binance originally announced that only two of the nine candidates were not the case.

signs of fatigue in the Memecoin market

Despite a high presence on social media, the course of Mubarak, which was launched 11 days ago, has been showing signs of stagnation for some time. This could indicate a general fatigue in the Memecoin market. Some users on social media have pointed out that the high connection of three of the four listed memoins to CZ, the former CEO of Binance, may be restricted by the wider market tractivity of the assets.

It should be noted that the investor expectations were high in advance of the vote. Even if Mubarak fell after the announcement, his listing was generally expected. Nevertheless, the moderate course growth, especially the 11 % increase in Bananas31, could be disappointing for some investors.

FAZIT

If Binance continues to carry out listing votes as planned, a sentence of less chosen winners and more unique offers could help reduce investor fatigue. The reactions to this first vote could provide evidence of how the community will deal with the newly listed tokens in the future.