Binance, the world's largest cryptocurrency exchange, announced in its announcement that it has listed the memecoin called MEW on its futures trading platform.
Cat in a dogs world (MEW), a Solana-based memecoin, experienced a significant jump in price following the listing news.
The altcoin in question is not currently traded in the spot market on Binance, it will only be listed on the futures market.
However, OKX is listed on the spot market on other major centralized exchanges such as Bybit and Kucoin.
Solana-based memecoins have become the biggest trends especially in recent times.
The Solana network's low transaction fees and low token minting costs have attracted an influx of developers, especially those who want to distribute memecoins without requiring much work, and users who do not want to pay too much transaction fees for them.
MEW has a market value of $395 million at the time of writing. There is no data on what the maximum supply of the token is, but current developer data claims that it is all in circulation.
*This is not investment advice.