George Miller
In a recent discussion on Twitter, He Yi, Co-founder of Binance, indicated that the future of meme coins is uncertain, with only a select few expected to thrive amidst a growing number of memecoin projects vying for listings on Binance. She cautioned that inclusion in Binance Alpha doesn’t automatically lead to a full listing on the exchange.
Yi commented that while some meme coins may succeed, many are likely to become worthless. She explained that even though Binance monitors numerous appealing projects, several have flawed token economic models or inflated platform metrics.
She also addressed the potential dangers linked with some memecoin ventures and highlighted Binance Alpha’s purpose in mitigating these risks. Yi stated, “Concerns about insider trading have arisen during our review process. Consequently, we categorize these promising projects within Binance Alpha for observation.”
Yi underscored that while being part of the observation zone offers opportunities for certain memecoins, this does not ensure their eventual listing on Binance.
Shifting the focus to the utility of crypto tokens, Yi asserted, “A project becomes viable and profitable when it provides value to society and can be effectively utilized by its users.”
Update on Binance Alpha Listings
Today, Binance Alpha unveiled its first set of projects: MONKY, RIF, HappyCat, ZRC, and ELIZA (ai16zeliza). However, shortly after the announcement, the Binance team revised the Telegram group link and challenged the validity of the initial listings.
Following this, Binance Wallet, He Yi, and others provided updated links to the Telegram channels across various social media platforms, clarifying that the error stemmed from Binance’s Chinese official account.
Binance officials announced that the final confirmation for the first batch of five projects will occur at 18:00 Beijing time on December 18, with alerts sent out 10 minutes prior to the launch.
The countdown to #Binance Alpha has begun!
Get ready for a new batch of tokens by preparing your assets on the corresponding chains:
3 on BNB Chain,
1 on Solana, and
1 on Base.Quick Buy starts: 2024-12-18 at 10:00 (UTC+0)
Click here pic.twitter.com/Vl76VnGWxG
— Binance (@binance) December 18, 2024
Yi noted that the Binance Coin (BNB) ecosystem continues to be a primary focus for Binance Alpha, while also stating that support will extend beyond the BNB ecosystem to include other leading public chain ecosystems.