PHNIX Meme Coin Listed on MEXC Exchange, Boosting XRP Ledger’s Meme Coin Ecosystem

The PHNIX meme coin, launched on the XRP Ledger, has achieved a significant milestone by listing on the major centralized crypto exchange, MEXC. This development marks the first time a major CEX has added spot trading for the meme coin.

According to the Phoenix team, this listing represents a historic milestone for the XRP Ledger, as PHNIX becomes the first XRPL memecoin to be listed on a major CEX. This achievement symbolizes the rise of the phoenix, a theme closely associated with the XRP and Ripple community.

Key Developments and Market Performance

Launched on December 3, PHNIX has seen a surge in interest, particularly amid the recent growth in meme coins on the . Before its listing on MEXC, the meme coin was only available on XRPL’s decentralized exchange platform, FirstLedger. The MEXC listing includes the PHNIX/USDT pair, which has seen over 6.16 billion tokens worth more than $425.63k traded in the past 24 hours. This listing has led to a significant price surge of over 116% for the meme coin.

Some key statistics about PHNIX include:

  • Maximum supply: 589 billion tokens
  • Recent 24-hour trading volume: over 6.16 billion tokens
  • Recent 24-hour trading value: over $425.63k

Rise of XRPL Meme Coins and XRP’s Recent Surge

The PHNIX meme coin embodies the recent growth of XRP after Ripple weathered the U.S. Securities and Exchange Commission’s legal hurdles. In July 2023, a U.S. judge ruled that XRP is not a security, leading to a surge in the cryptocurrency’s price amid bullish expectations.

The XRP community sees PHNIX as a mascot, symbolizing the rise of the phoenix and the blockchain project’s growth. Other notable meme coins on the Ripple blockchain network include ARMY, 589, XPILL, and RIPPIE. The ARMY token, in particular, has been around for over a year and is among the first meme projects to inspire the XRP community.

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