As a seasoned researcher who has witnessed the evolution of countless blockchain projects, I must admit that the listing of PHNIX on MEXC is a noteworthy event, especially considering it’s the first XRPL meme coin to make this leap onto a major centralized exchange. The surge in trading volume and price following the listing suggests a growing interest in XRP-related projects, which could be attributed to Ripple‘s recent legal victories and the buoyant crypto market.
The cryptocurrency token known as PHNIX, which was initially released on the XRP Ledger, has now made its debut on a significant centralized digital currency trading platform for the first time.
On December 27th, it was revealed by the Phoenix team that the cryptocurrency exchange MEXC had added support for trading PHNIX. This makes MEXC the first significant centralized exchange (CEX) to offer spot trading for the meme-based coin.
Today marks a significant event in the history of the $XRP Ledger: $PHNIX, the initial meme token on this platform, has been added to a prominent centralized cryptocurrency exchange!
On December 3rd, the PHNIX token made its debut, entering the scene as meme coins on the XRPL blockchain gained attention. The PHNIX token represents the rebirth of the phoenix, a symbolism that resonates with the XRP (XRP) and Ripple community, who view it as an emblem of their blockchain project’s resurgence.
Prior to its debut on MEXC, the meme coin could only be obtained through the decentralized exchange platform FirstLedger on XRPL. In the last 24 hours, over $425,630 worth of 6.16 billion PHNIX tokens have been traded on MEXC’s PHNIX/USDT pair. The meme coin experienced a price increase of more than 116% following its listing. The total supply of PHNIX is capped at 589 billion.
Rise of XRPL meme coins
As a crypto investor, I’ve witnessed the remarkable rise of PHNIX, which seems to mirror XRP’s recent surge following Ripple’s triumph over the legal challenges posed by the U.S. Securities and Exchange Commission. In July 2023, a U.S. court decision declared that XRP is not classified as a security. Since then, this digital currency has been on an upward trajectory, fueled by optimistic forecasts from the crypto community.
The XRP community sees the PHNIX meme coin as a mascot.
Apart from PHNIX, the Ripple blockchain network has a number of top meme coins.
Among them are ARMY, 589, XPILL, and RIPPIE. The ARMY token, which has been circulating for over a year now, is one of the pioneering meme projects that sparked interest within the XRP community. Interestingly, this ties in with the well-known “XRP Army” term, referring to those who hold the XRP token.
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2024-12-27 20:36