The PHNIX meme coin, which launched on the XRP Ledger, has landed on its first major centralized crypto exchange.
On December 27th, the Phoenix team announced that crypto exchange MEXC had listed PHNIX. This move makes the exchange the first major CEX to introduce spot trading for the meme coin:
“Today a historic milestone was reached on the $XRP Ledger: $PHNIX is the first XRPL memecoin to be listed on a major CEX!”
The PHNIX token was launched on December 3rd, hitting the market amid renewed interest in meme coins on the XRPL blockchain. PHNIX is a token intended to symbolize the rise of the Phoenix, a prospect that the XRP (XRP) and Ripple community associates with the blockchain project.
Prior to its listing on MEXC, the meme coin was only available on XRPL’s decentralized exchange platform FirstLedger. MEXC has listed the PHNIX/USDT pair, where 6.16 billion tokens worth over $425.63 thousand were traded in the last 24 hours. The price of the meme coin increased by more than 116% after the listing. PHNIX has a maximum supply of 589 billion.
Rise of the XRPL meme coins
PHNIX represents XRP’s recent surge after Ripple cleared legal hurdles from the US Securities and Exchange Commission. In July 2023, a US judge ruled that XRP was not a security, and over the past two months the cryptocurrency has surged amid optimistic expectations.
The XRP community sees the PHNIX meme coin as a mascot.
Aside from PHNIX, the Ripple blockchain network has a number of top meme coins.
These include ARMY, 589, XPILL and RIPPIE. The ARMY token, which has been around for over a year, is among the first meme projects to inspire the XRP community…
