Binance Investment in Meme token

[Jamal Aezaz]

Binance is always trying to do some crazy works and investing in the projects which posses some value. In previous they invested in many AI, Gaming,Web3 and Data based projects but today when I read announcement that they are investing in Meme token, I surprised because Meme token website clearly stated that they have no roadmap and token has no usecase. This decision is apparently looking very confusing that why Binance a very good exchanges want to help shit projects despite of fact that there are hundreds of real valuable projects.

Read full announcement:
https://www.binance.com/en/blog/ecosystem/binance-labs-invests-in-meme-the-native-token-of-memeland-from-the-creators-of-9gag-1370020903256087146

What is yours opinion about binance venture this step? will it will bring any positive result in future?

[Ambatman]

First before anything Binance is a business and would like to promote coins that would yield them profit.pepe for example has its community as its potential so Binance listed it when it had no utility.There exist shit projects that are one time pump and Binance eventually delists them.

[Rikafip]

This decision is apparently looking very confusing that why Binance a very good exchanges want to help shit projects despite of fact that there are hundreds of real valuable projects.

Its not confusing at all as Binance is just a business whose sole purpose is to make as much money as possible and since meme coins are popular at the moment, they know that they will make shit load of money.

After all, it woulnd't be their first tiome to help shitcoin projects.

[dkbit98]

What is yours opinion about binance venture this step? will it will bring any positive result in future?

It's enough to look at tokenomics of this meme crap to understand why Binance exchange is behind them.
2% of supply is owned by Binance Launchpool and I am sure they are behind private sales also, and this token will probably be released on binance chain.
They own so much Bitcoin now (one of the largest holders) that they can do whatever they want to increase their profits, before they decide to shut down their business (probably in next few years).

[Wiseman]

looking very confusing that why Binance a very good exchanges want to help shit projects despite of fact that there are hundreds of real valuable projects.

Many people no longer trade on binance because it is a centralized exchange that does not care about anything else but profits, I have long since not participated in all sorts of giveaways with the retention of bnb token and even no longer trade with them, personally I stopped liking this exchange.

[Jamal Aezaz]

This decision is apparently looking very confusing that why Binance a very good exchanges want to help shit projects despite of fact that there are hundreds of real valuable projects.

Its not confusing at all as Binance is just a business whose sole purpose is to make as much money as possible and since meme coins are popular at the moment, they know that they will make shit load of money.

After all, it woulnd't be their first tiome to help shitcoin projects.

I agree with what you said about their business purpose of making money. but Binance had it's reputation among other Exchanges. it supposed to be investing in only Good and Quality projects.. those projects would make Binance a lot of money too and will also improve their reputation. but investing in a memcoin is different.
Also don't forget that Binance is very influencial among crypto people. if binance invest in something common people will also rush to invest their money in that.
that's why I thin Binance's deicison of investing in a memecoin without any usecase is very confusing.

[dwyane36]

Binance is always trying to do some crazy works and investing in the projects which posses some value. In previous they invested in many AI, Gaming,Web3 and Data based projects but today when I read announcement that they are investing in Meme token, I surprised because Meme token website clearly stated that they have no roadmap and token has no usecase. This decision is apparently looking very confusing that why Binance a very good exchanges want to help shit projects despite of fact that there are hundreds of real valuable projects.

Read full announcement:
https://www.binance.com/en/blog/ecosystem/binance-labs-invests-in-meme-the-native-token-of-memeland-from-the-creators-of-9gag-1370020903256087146

What is yours opinion about binance venture this step? will it will bring any positive result in future?

Not all memes are outright shitcoins, and shib is a prime example of that. As for this news, I personally heard about this meme token for the first time. However, if the Binance team really invests in it, they surely know something and plan to profit from it in the future. By the way, this meme token clearly has potential, considering that its current daily trading volumes are over $71 million.

[joniboini]

Based on the blog post, it seems like the token is not as useless as other meme tokens, assuming the team does make the token mandatory for its platform to function properly. It sounds like they're trying to use the token as an incentive for the community to participate (making posts, voting in DAO, etc). Not a new idea, just that the developer name is more marketable compared to some random anonymous developer. I wouldn't rely on it as a long-term investment choice though. As others have mentioned, it wouldn't be surprising if Binance would just exit it after they make some profits soon.

[Papusha20]

Binance is only useful enough to make money, they want to know how to make money more. Since Meme Coin is so popular in the market, Binance has extended a little helping hand. Because Binance is currently one of the most popular among the top exchanges and shitcoins, they have supported MemeCoin to attract investors.

[Faisal2202]

Binance is always trying to do some crazy works and investing in the projects which posses some value. In previous they invested in many AI, Gaming,Web3 and Data based projects but today when I read announcement -cut-
What is yours opinion about binance venture this step? will it will bring any positive result in future?

You are 100% right, I was just talking about Binance's decisions that their new CEO is making in another thread, like how the new CEO saying, they will keep their three pillars strong (WEB3, Users, Innovation). I must say this meme coin investing thing is not good for there future reputation but I also think every decision has its own reasons, maybe they are seeing any potential in Meme coins and maybe they need more trading volume and money inflow that's why they are giving meme a try.

The bull run is coming and every newbie who doesn't even know A B C of crypto is investing, joining airdrops, and also spending money in airdrops to get many meme coins, I have seen another meme coin NOTCOIN maybe you might have heard of it, it might also be listed at Binance (not for sure but I saw its ticker on Binance in a post). Well, the thing is, Binance is making some good money to investors of Memecoins and TBH it is not that move but maybe it depends on the sensitivity of the time they are going through.

[ajiz138]

For me this is not confusing because when there is a good opportunity they will do it, this is a business when the profits are clear they will jump in and don't care about meme tokens there is no road map when the community is strong the price can be high, but you need to know that Binance's influence is still quite large with any token including memes.

I don't really pay attention to this meme token even though it is currently busy on social media because I know their discussions there, they are proudly quite sure that when the token listing on Binance will have a good impact in terms of price, even though I know when there is a token listing it will provide big profits for its investors.

[Wiseman]

For me this is not confusing because when there is a good opportunity they will do it, this is a business when the profits are clear they will jump in and don't care about meme tokens there is no road map when the community is strong the price can be high, but you need to know that Binance's influence is still quite large with any token including memes.

I don't really pay attention to this meme token even though it is currently busy on social media because I know their discussions there, they are proudly quite sure that when the token listing on Binance will have a good impact in terms of price, even though I know when there is a token listing it will provide big profits for its investors.

At least investors can get there a very large liquidity and this sometimes plays the biggest problem, because this kind of tokens are not secured by anything and the price of them just holds only on their desire, Binance can give a huge HYIP and the same number of traders who will buy this token in the hope of making a lot of interest, but I would not count on it).

[Litzki1990]

Meme token is quite promising token but not much money to invest in all these tokens. Meme token is not a reliable investment token at all, as all these tokens can suddenly pump hundreds of times, the value of this coin can suddenly disappear from the market. 10 to 20 dollars can be invested in all these coins so that if ever the value of these coins increases by hundreds of times in the future so that a good profit can be obtained. There are enough Meme tokens on Binance Exchange that an investor can invest in all these coins using this exchange.

[Report]

The first time I got to know cryptocurrency started with Bitcoin and I had to have an exxhange account, namely Binance because with Binance my community said you could exchange coins for fiat and enter a credit card. But when I registered and looked at Binance trading, there were lots of coins in circulation.
There are also a lot of Meme coins in circulation and that is a sign that Binance also needs Meme coins to make a profit, I am sure that every trading fee from Meme coins generates a lot of profit for Binance like as created Meme token  from 9GAG.