The recent success of the Moonshot app has paved the way for memecoin trading applications to enter—and likely dominate—the market. This development is significant, as the memecoin sector is on the brink of a supercycle. Alongside Moonshot, other apps like Prerich and, more recently, Vector on the Bittensor blockchain have emerged, offering users the ability to buy memecoins directly without waiting for listings on platforms like Binance or Coinbase.
Overcoming On-Chain Trading Barriers
In previous cycles, the most challenging aspect was onboarding new users into on-chain trading. Earlier decentralized exchanges (DEXs) and on-chain apps lacked the sophistication of today’s tools. Innovations like Jupiter DEX and Phantom Wallet have revolutionized the landscape, streamlining processes and removing traditional barriers.
Notably, Phantom Wallet has surpassed Coinbase as the most downloaded utility app. AllianceDAO founder Qiao highlights this trend, stating:
"Phantom now ranks above Coinbase on the App Store, signifying a shift where a large number of new users are entering blockchain trading directly, bypassing centralized exchanges (CEXs). This marks a significant leap forward."
Are CEX Listings Losing Their Importance?
While it's uncertain if major exchange listings will remain as crucial as they once were, the industry is clearly undergoing a transition. This evolution could accelerate blockchain adoption by providing easier access to trading. Centralized exchanges may no longer be as essential for traders, especially with apps like Moonshot allowing users to trade without seed phrases, and Vector emerging as another promising player in the space.
These applications are particularly advantageous because they frequently list new memecoins, creating an ideal environment for capitalizing on this growing trend. While centralized exchanges still handle significant transaction volumes, applications like these may become game-changers in mass adoption.
For example, AI-powered memecoins like GOAT reached a $1 billion market cap within a month, without being listed on Binance or other major exchanges. Similarly, CHILLGUY gained traction on decentralized platforms, further emphasizing the speed and innovation of app-driven ecosystems.
The Future of Memecoin Trading Applications
It is plausible that in the near future, on-chain trading apps will dominate the market. These platforms might allow users to deposit funds via bank transfer or card, eliminating the need for technical expertise. With trending memecoin charts and intuitive interfaces, these apps cater to both beginners and seasoned traders. Qiao noted:
"CHILLGUY started on TikTok, and most of its trading volume occurred on DEXs. This demonstrates that new users are entering the blockchain space directly, bypassing CEXs—another indication of progress."
Murad adds that the memecoin supercycle will likely spread through word of mouth, creating millionaires and inspiring newcomers to explore the market. Naturally, these users are expected to gravitate towards apps offering the broadest range of memecoins.
If Binance struggles to list trending memecoins, Coinbase faces an even greater challenge. These new applications could redefine the landscape and drive the memecoin supercycle to exceed even the most optimistic expectations.
Best Wallet (BEST): A Game-Changer in Crypto Trading
Among these innovative tools, Best Wallet (BEST) stands out as a revolutionary crypto wallet. With millions of users, the app has recently launched its native cryptocurrency, the BEST token, through a phased presale. Initially exclusive to Best Wallet users, the presale allowed them to purchase BEST at a low fixed price. Now in its public phase, the token’s price increases with each presale stage.
The BEST token enhances the Best Wallet experience, offering features that outshine competitors like MetaMask. As part of the next generation of user-friendly apps, Best Wallet provides unique benefits, including discounts on in-app services, exclusive partnerships, and the opportunity to earn passive income. BEST token holders also gain access to perks through the upcoming Best DEX and Best Card.
With its seamless interface, trending memecoin rankings, and advanced tools, Best Wallet caters to all levels of traders, creating an optimal trading environment. As Qiao remarked,
"The rise of DEXs and apps like Best Wallet signifies the shift of new traders directly into the blockchain ecosystem, bypassing traditional CEXs."
Murad predicts that the memecoin supercycle will inspire countless success stories, driving broader adoption. Apps like Best Wallet, which offer comprehensive access to memecoins, are set to play a pivotal role in shaping this future. If traditional exchanges like Binance fail to keep up, these innovative platforms will undoubtedly take center stage.
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