MEXC lists XRPL meme coin PHNIX

PHNIX meme coin launched on XRP Ledger has arrived on its first major centralized crypto exchange.

On December 27, the Phoenix team announced that crypto exchange MEXC had listed PHNIX. This move makes the exchange the first major CEX to add spot trading for memecoin:

“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 3 and comes amid new interest in meme coins on the XRPL blockchain. PHNIX is a token that symbolizes the rise of the phoenix, a view that the XRP and Ripple community associate with the blockchain project.

Before listing on MEXC, the meme coin was only available on XRPL’s decentralized exchange platform FirstLedger. MEXC 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 Meme coin increased by more than 116% after listing. PHNIX’s maximum supply is 589 billion.

The rise of XRPL meme coins

PHNIX represents XRP’s latest rise after Ripple cleared regulatory 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 soared amid bullish expectations.

The XRP community sees the PHNIX meme coin as a mascot.

Besides PHNIX, there are many popular meme coins on the Ripple blockchain network.

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. In particular, this relates to the popular “XRP Army” reference to XRP token holders.