Justin Sun will "revitalize" Huobi and Poloniex exchanges with memcoins
Justin Sun announced plans to "revitalize" the Huobi and Poloniex exchanges with memcoins
Tron blockchain founder said that Binance's high standards prevent it from occupying all niches in the market and this gives other exchanges a chance to develop
Huobi head and Tron blockchain founder Justin Sun intends to "revitalize" the crypto exchanges Huobi and Poloniex, writes The Block. To do this, Sun will add meme-based cryptocurrencies to the platforms.
The Huobi exchange, according to CoinGecko, now ranks 17th in daily trading volume among centralized platforms with $401 million, Poloniex is 43rd with $69 million in trading volume.
On The Scoop, a weekly podcast hosted by The Block's news editor-in-chief Frank Chaparro, Justin Sun said Binance's high token listing standards are becoming a roadblock for smaller memcoins, and that opens up growth opportunities for other crypto exchanges.
"Binance has very high listing standards for crypto-assets these days. A coin has to be worth at least $100 million or even $1 billion to get on Binance. I think that gives a lot of growth opportunities for other exchanges," Sun said.
He noted that the PEPE token on the Huobi and Poloniex exchanges (Huobi's strategic partner) appeared faster than on Binance. San said that when selecting tokens, both platforms pay attention to the involvement of the media in the discussion of memcoins and whether they have a combustion mechanism.
What is PEPE cryptocurrency and how it has set the trend for new memcoins
He recently wrote that he would start trading memcoins for "fun." After that, a lot of useless tokens were poured into his wallet.
As analysts explained, scammers or promoters of various cryptocurrencies often send coins to some famous person's address to give the community the impression that the celebrity is buying these assets. This makes traders think that the market for these tokens is ready to take off and buy them.
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