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Coinbase has added 34 tokens to its listing roadmap in 2024, with meme coins making up 20% of the total, reflecting the exchange’s cautious approach despite the meme coin craze.
As a publicly traded company, Coinbase‘s 2024 strategy for listing tokens seems to reflect a more measured approach compared to its rivals, with a selective focus on high-market-cap meme coins and a preference for Ethereum (ETH) and Base (BASE) networks rather than Solana (SOL) or BNB Chain (formerly Binance Smart Chain).
来了，Coinbase 2024 年已上线 Memecoin 项目盘点🙌
Coinbase 今年累计将 34 个代币添加到了上币路线图，其中 Meme 仅有 7 个，占比 20.58%，且高达 71% 的代币市值超过 5 亿美金
与币安相比，Coinbase 的上币频率 / 选币风格 / 上币效应有何不同？上币规律和网络分布情况又如何呢？Let's Go🧵👇 pic.twitter.com/udJN03uUyH
— Ai 姨 (@ai_9684xtpa) December 10, 2024
In an X thread on Dec. 10, an on-chain analyst under alias “ai_9684xtpa” revealed that in 2024, Coinbase has added 34 tokens to its listing roadmap, with seven meme coins, making up 20.58% of the total. Moreover, about 71% of the listed meme coins had market values over $500 million, showing Coinbase focuses more on larger assets than its competitors.
Meme coin listings on Coinbase have picked up since October, following a rise in interest around “dog coins” as alternative tokens. This trend mirrors what’s happening on Binance, which has also added 14 meme coins since October.
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While both exchanges share a peak in meme coin activity during this period, Coinbase’s listings reveal somewhat of a selective approach to network distribution, the analyst found. Unlike Binance, which sees over 60% of its meme coin listings on Solana, the majority (57%) of meme coins listed on Coinbase are on Ethereum, with Solana and Coinbase’s own layer 2 network, Base, each accounting for 28.6%.
The analyst also noted that, unlike its competitor, Coinbase tends to exercise caution, with meme coin listings typically occurring at least a month later Binance’s.
Read more: US gov told banks to suppress crypto, Coinbase documents show
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