Binance announced the results of its first community listing vote. The exchange will list four meme coins tomorrow. It was expected to launch only two, and the value of BROCCOLI, Tutorial, and BANANAS31 rallied.
However, Bananas for Scale only had a small gain, and Mubarak actually experienced a sharp decline. This may reveal fatigue in the meme coin space or a saturation of CZ-related assets.
Binance, the world’s largest crypto exchange, is trying out a new solution to determine token listings. After the vote to list Pi Network, the firm introduced a vote-based system for listings and delistings.
Binance’s first listing vote began last week, and today, the company announced the winners:
“Following the Vote to List results and completion of due diligence, Binance will list Mubarak (MUBARAK), CZ’S Dog (BROCCOLI714), Tutorial (TUT), and Banana For Scale (BANANAS31) and open trading for the following spot trading pairs at 2025-03-27 21:00 (UTC),” Binance claimed via press release.
At first, Binance claimed that only two of nine candidates in the first vote would get listings, but four of them are receiving this treatment. Typically, tokens spike when they are listed on Binance, and today, that trend largely continued.
Three of the four meme coins did well, including Broccoli, which was named after CZ’s dog.
BROCCOLI rose 65%, and Banana for Scale went up by 11%. Tutorial was the best performer, gaining over 200% in value.
However, Mubarak, an up-and-coming meme coin, actually dropped after Binance announced that it won the vote. It’s still posting net gains from the last 24 hours, but this immediate drop suggests that the news was already priced in.
Despite prominent social media buzz, Mubarak’s price has mostly stagnated in the last ten days, and it was launched 11 days ago. The meme coin market is showing signs of fatigue, and Binance’s vote may not be enough to change it.
Some users on social media have pointed out a simpler explanation. Of the four vote winners, three are either related to or connected to CZ, the former CEO of Binance. This might limit the assets’ broader market appeal.
It’s important not to overstate the case here. Mubarak dropped after the announcement, but it was largely expected to be listed. Indeed, most of the winners were fine, although BANANAS31’s 11% gains are not particularly encouraging.
If Binance keeps holding listing votes as planned, fewer winners and more unique offerings might help stave off investor fatigue.
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