According to GMGN monitoring, the highly anticipated USD1 trading contest on BNB Chain concluded on January 25, but the winners have yet to be announced. The top three meme coins by market cap are currently EGL1, CDL, and Liberty. Notably, both EGL1 and Liberty participated in similar contests held between May and July last year.
New Meme Coins Show Diverging Trajectories
The latest wave of meme coins has shown mixed performance. Coins such as 'BIG DON' and '1', which once generated significant buzz, have seen their market caps fall below $5 million. Meanwhile, 'memes' and 'An' continue to maintain a substantial presence, with market caps of approximately $12.5 million and $10 million, respectively, placing them fourth and fifth on the leaderboard. 'An' has declined by about 80% from its peak.
Contest Rules and Background
- The competition officially ended on January 25 at 8:00 AM Beijing time.
- Top three finishers will receive multiple rewards, though the exact criteria have not been disclosed.
- Eligible projects include those listed on Four meme with USD1 as the base token or those with active USD1 liquidity pools.
Investors should be aware that meme coins are highly volatile assets. Their value is often driven by hype and market sentiment rather than fundamental utility, making them a high-risk investment.