The growth of the meme coin market in 2024 continues to spark debates among industry participants, regulators, and analysts. A recent statement by the head of the SEC’s crypto division confirmed that meme coins do not fall under the commission’s jurisdiction, highlighting the lack of regulatory clarity in this sector, analysts note that despite the surge in interest in meme coins, investors are gradually shifting their focus to more stable cryptocurrencies. According to Santiment, Bitcoin and major altcoins have started attracting more capital, signaling a transition into a healthier market phase.
Due to changing market dynamics, exchanges have taken different approaches to listing new tokens. An analysis of 77 popular meme coins across six major exchanges (Binance, OKX, Bybit, Bitget, MEXC, and Gate.io) shows a clear divide between platforms that actively add new assets and those that opt for a more cautious approach.
MEXC is leading in meme coin listings, adding 72 out of the 77 analyzed tokens (93.5%), including 51 first-time launches. The exchange also offers seven exclusive tokens, making it a key player in the meme coin trading ecosystem. Gate.io ranks second in listings, with 66 tokens, while Bitget has listed 7 meme coins as first movers. In contrast, Binance, OKX, and Bybit have taken a more selective approach, listing fewer tokens and often waiting until they demonstrate market stability.
The race for coins quickly comes with both opportunities and risks. Exchanges like MEXC attract traders who seek early access to high-volatility assets. In 2024 alone, MEXC added 2,376 new tokens and 605 meme coins. Additionally, the platform incentivizes its community through 1,886 airdrops, distributing $107.8 million USDT to its users. This aggressive strategy has helped it climb the top 6 global exchanges for spot trading volume ($31.1B) and top 5 for futures trading ($9.1B).
Larger platforms like Binance and OKX have a more cautious listing strategy, focusing on tokens with established liquidity and strong fundamentals. These exchanges aim to minimize users’ risks while ensuring long-term sustainability and market liquidity.
As the meme coin sector evolves, exchanges must adapt their listing strategies based on trader preferences and market conditions. The current trend suggests that the sector remains one of the most dynamic in the crypto industry, attracting high-risk speculative traders and long-term investors seeking institutionalization of the meme coin market.