Binance Goes All-In on BONK, PENGU & Meme Coin Mania – Here’s Why It Matters
Binance just doubled down on meme coins—and the market’s eating it up. BONK and PENGU lead the charge as traders flip speculative assets into serious gains. Here’s the breakdown.
### The Meme Coin Gold Rush Isn’t Slowing Down
Despite eye-rolls from traditional finance, meme coins keep printing life-changing money for degens. Binance’s latest move? Pumping liquidity into BONK and PENGU pairs, betting big on viral tokens with zero utility but limitless hype.
### Why This Time *Might* Be Different (Or Not)
Exchange support = liquidity. Liquidity = fewer rug pulls. But let’s be real—this is crypto casino logic at its finest. Binance knows retail can’t resist a meme with a cute mascot, even if the whitepaper is a tweet thread.
### The Bottom Line: Ride the Wave, But Watch the Exit
Meme coins are the ultimate greater fool theory in action. Binance’s backing adds legitimacy, but remember: when the music stops, the last one holding BONK pays for Wall Street’s martinis.
More Backing
The world’s largest cryptocurrency exchange offers trading services with multiple meme coins to respond to the ongoing market trends. However, some of those tokens have a warning label, known as a Seed Tag. It applies to cryptocurrencies which are listed on the platform but are considered riskier or early-stage projects.
On July 21, Binance announced the removal of the Seed Tag from popular meme coins, including Bonk (BONK), Pepe (PEPE), and Pudgy Penguins (PENGU). EigenLayer (EIGEN) and ether.fi (ETHFI) will also no longer have this marker.
The firm stated that it will continue to conduct periodic reviews to determine if other digital assets should have the Seed Tag removed. To do so, it takes into account factors such as the team’s commitment to the project, the level and quality of development activity, trading volume and liquidity, network stability, community sentiments, and others.
The exchange also expanded the list of trading choices offered on Binance Spot by adding the ETC/USDC, GRT/USDC, and ROSE/USDC pairs on July 22. The services are subject to eligibility and won’t be available to users residing in the USA, Canada, Iran, Netherlands, and other countries.
Ethereum Classic (ETC), The Graph (GRT), and Oasis (ROSE) did not experience price rallies following the news and remain in red territory on a daily scale. More substantial pumps are typically observed when Binance lists a new cryptocurrency, rather than just an additional trading pair.
Other Recent Changes
Earlier this month, the company included Newton Protocol (NEWT) and Sahara AI (SAHARA) as new loanable assets on Binance VIP Loan. The service enables premium users to borrow substantial amounts of crypto by using their current holdings as collateral. Surprisingly, NEWT and SAHARA did not pump after the disclosure and remained in the red zone.
Binance also removed certain spot trading pairs, such as ACT/EUR, FIO/BTC, TNSR/FDUSD, and TST/FDUSD. Most of the affected cryptocurrencies headed south following the announcement, with FIO charting the biggest loss of around 8%.
