Semi-custody crypto wallet, Binance Wallet has announced the launch of Meme Rush, a new tool to facilitate a seamless exposure to fresh meme coins. The crypto wallet designed by the world’s largest cryptocurrency exchange by trading volume, Binance, made the announcement on Thursday, through a blog post.
In the statement, Binance wallet said the new feature is exclusively reserved for its users, giving them a strong advantage in the highly competitive meme coin market. As part of the initiative, the firm collaborated with Four.Meme, a platform that specializes in the issuance of meme coins.
According to the project team, the partner will help put in place transparent token mechanisms and leaderboards to track the performance of meme coins. Thanks to this feature, Binance Wallet aims to provide users with data that enables them to make informed decisions.
Furthermore, by tapping into the infrastructure of Four.Meme, Binance Wallet, through the newly launched feature will expose fraudulent meme projects. As indicated in the announcement, in addition to gaining early exposure to new projects with huge potential, the firm is committed to ensuring the safety of investors.
On the flip side, the statement also indicated some key benefits for new projects launching through the platform. According to Binance Wallet, the feature presents a good opportunity for top-performing meme coins to list on the largest crypto exchange, offering them improved liquidity and good market exposure.
How BNB is gaining more market acceptance
It is worth mentioning that the launch of the Meme Rush occurred shortly after BNB, the native token of the Binance ecosystem, briefly became the third largest cryptocurrency by market capitalization. According to Coinmarketcap, on Monday the token moved behind Bitcoin and Ethereum, after overtaking the likes of XRP and USDT to stand among the top 3.
However, the momentum only lasted for a few hours before USDT knocked BNB off the third spot and the token is currently fourth, still ahead of XRP. Within the last 30 days, BNB recorded a 42.72% gain, reacting to the recent bullish run in the price of digital assets.
Additionally, the recent rally of BNB indicates growing interest in the token, driven by the fast-paced expansion of the Binance ecosystem. Underlining its popularity as one of the leading DeFi ecosystems, the BNB chain currently holds $9 billion total value locked (TVL).
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