Data: Chinese memes across the BSC ecosystem generally rose; Binance updated its spot trading system to support Chinese trading pairs.
TL;DR
Chinese memes in the BSC ecosystem rose in price, with Binance Life up over 12% and Hakimi shares up over 7.25%. Binance updated its spot trading system to support Chinese trading pairs via UTF-8 encoding, but investors are warned of high volatility and risks in meme coin trading.
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According to ChainCatcher and GMGN market data, Chinese memes within the BSC ecosystem saw widespread price increases this afternoon, as of press time.
"Binance Life" surged over 12% in a single day, with its market capitalization now at $134 million;
Hakimi shares surged over 7.25% in a single day, bringing its market capitalization to $30.6 million.
Previous reports indicated that Binance's spot trading logs showed support for UTF-8 encoding was expected to be gradually rolled out over the next two weeks. UTF-8 encoding means that spot trading pairs can support multiple languages or symbols, such as Chinese.
ChainCatcher reminds users that Meme coin trading is highly volatile, relying heavily on market sentiment and hype, and has no real value or use cases. Investors should be aware of the risks.