Minswap Labs, the premier multi-pool decentralized exchange on Cardano, is working to get its native token MIN traded on the largest cryptocurrency exchange, Binance.
The Minswap Labs team recently disclosed the move through a post on its official X account. According to the latest news, Minswap Labs has submitted an application for MIN to be listed on Binance.
MIN listed on Binance
The move comes in light of MIN’s low trading volume and market capitalization of $29.4 million, which places it at 802nd on CoinMarketCap’s rankings. Listing on Binance is expected to have a positive impact on MIN’s trading volume and market share. Specifically, the listing will expose MIN to millions of investors and traders on exchanges, potentially boosting its market value.
Notably, Minswap Labs applied to list MIN on Binance by taking advantage of Binance’s recently announced plan to promote a healthy cryptocurrency market environment. Binance’s move is aimed at addressing growing concerns about dishonest token launches that are launched at inflated fully diluted valuations and with limited initial circulating supplies.
To counter this trend, Binance decided to support promising small and medium-sized projects with good fundamentals. It opened applications to participate in listing programs, including direct spot listings, super airdrops, and issuance pools.
It is worth noting that in this program, Binance only welcomes projects that allocate most of the tokens to community users, maintain a reasonable token circulation at the time of listing, and limit the allocation to non-community users.
Additionally, Binance also prioritizes projects with an organic user base and a commitment to responsible regulatory and compliance practices.
MIN is listed on MEXC
While MIN’s application to be listed on Binance is still awaiting approval, the Cardano-based token has recently been listed on MEXC, one of the top centralized exchanges. MEXC opened the MIN/USDT trading pair on May 28 and provided an airdrop reward pool worth US$50,000. As of now, only two leading centralized exchanges, MEXC and CoinEX, have listed MIN.
Interestingly, following the latest announcement, MIN’s trading volume surged 218% to $198,000, according to CoinMarketCap. Of this, the recently listed MEXC accounted for $152,054, or 76.58%. Binance’s listing is likely to boost this total further.
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