In Episode 48 of Season 5 of The Scoop recorded with Frank Chaparro of The Block and Justin Sun, Justin Sun revealed the process of listing new memecoin projects by Huobi and Poloniex.
Justin Sun thinks that Binance may be the exchange with the largest trading volume in the market right now, but Binance is not the best exchange to list smaller memecoin projects, when the projects want to be. lits to Binance needs to meet very strict requirements from Binance.
“Binance has very high standards for listing new projects on exchanges. A project needs to have at least $100 million or even $1 billion to get listed on Binance in the first place. So that’s why I think this is an opportunity for other exchanges to grow.” Justin Sun said.
Justin Sun also recently said on Twitter that he will start buying memecoin projects for entertainment purposes.
Immediately after Justin Sun’s post, almost worthless memecoin projects sent a mass of memecoins to Justin Sun’s wallet.
In this episode, Chaparro and Sun also discussed:
- How does Justin Sun search for memecoins?
- Revenue source of Huobi and Poloniex
- Global Cryptocurrency Regulatory Environment