The cryptocurrency market in 2025 resembles an endless capital game. After Bitcoin broke new highs, it experienced a significant pullback, while the Meme sector broke through the chaos with absurdity and narratives of wealth: the political concept Meme TRUMP successfully went viral, the market was violently shaken by the political hype of the "presidential crypto scandal" and CZ's intervention, and Pump.fun broke free from the constraints of Raydium to establish its own Swap protocol. The Meme market continuously reshaped its ecological rules amidst the chaos.

However, while retail investors chase the myth of hundredfold returns, the real winners may have already sold at the peak. Among them, the "hidden god"—the exchanges—cannot be overlooked. As a hub of traffic and capital, platforms strategically positioned Meme assets, avoiding the discourse contradictions of VC coins and Meme coins while satisfying the trading mentality of retail investors. Below, we will review the ultimate beneficiaries in the secondary market amidst the collision of "abstract culture" and "capital games."

Meme Market Review: On-chain Revelry and Bubble Dancing

2024 was dubbed the "Year of Meme Frenzy," with a total market capitalization exceeding $120 billion and the Benchmark index rising by as much as 279.8%, far surpassing Bitcoin and gold. During this year, Solana's price soared to $290 due to the prosperity of memes, but as the market weakened and trust crises arose from excessive celebrity coin launches and U.S. political factors, meme traffic retreated from its peak, and market sentiment gradually stabilized.

Although the Meme engine Pump.fun lowered the threshold for participation, 90% of projects became "one-hit wonders," with retail investors becoming victims of "exit liquidity." As the market languished, the fragility of memes was fully exposed in the hype.

Exchange Layout: Controlling Liquidity, Market Pricing, and Front-end Strategy

Against the backdrop of the heated development of the MEME market, Meme has become a new focal point for traffic, where time and information asymmetry are decisive factors. As early as the second half of 2024, CEXs, in order to break through growth bottlenecks, began to classify Meme coins as strategic asset categories, and by the end of 2024, differentiated layouts had basically formed.

Among them, LBank led the industry with 281 Meme coins listed (34% share), far surpassing competitors like Gate (63) and Bitget (46), confirming CEXs' strategic tilt towards the Meme sector. Taking the recently popular presale concept Meme PAIN as an example, according to CoinGecko data, LBank's market share reached 4.78%. Moreover, its listing time was earlier than other exchanges like Gate, MEXC, and Bitget, with a typical listing time capture rate exceeding 70%.

In the early market, pricing power was mainly held by a very small number of traders, and for exchanges, being the first to layout, seize liquidity, and optimize matching mechanisms are core to ensuring competitive advantages. For instance, LBank, with its smart market-making strategy and liquidity depth, achieved a more stable trading experience for its quality assets like GOAT, SHELL, and DUO. Especially in the Meme sector, LBank ensured that market prices closely followed global trends through a robust liquidity supply mechanism, effectively reducing the impact of extreme volatility and achieving superior trading depth compared to peers. This not only improved user transaction efficiency in Meme trading but also reduced significant slippage issues caused by insufficient liquidity, providing stronger support for market pricing.

This "fast, accurate, and stable" approach not only broke the brand monopoly of leading exchanges but also validated the possibility for second-tier platforms to achieve a leapfrog advantage by aligning closely with market sentiment and optimizing user experience. Currently, the competition among exchanges has shifted from scale games to "timeliness wars," and LBank is redefining industry rules with its "Meme King" stance.

Furthermore, LBank is deeply involved in the issuance and trading of memes by building a full-cycle ecological service. It not only collaborates with SLERF to compensate affected users but also launched a "red envelope feature" to enhance community engagement, and even released industry reports through LBank Labs to guide market narratives. This full-chain layout from issuance to research makes LBank an indispensable infrastructure in the Meme economy, firmly occupying the top of the MEME food chain.

The "Involution" Pre-market Trading Becomes a New Battleground

Historically, March has seen various exchanges enter the involution era. Facing market information gaps, trust crises in VC coins, and extreme volatility in Meme coins, CEXs are competing for traffic through differentiated strategies. Currently, the pre-market layouts of major mainstream exchanges each have their own characteristics:

Bybit was one of the first exchanges to lay out pre-market trading, but it has a limited selection of pre-market coins. OKX adopted a more specialized pre-market trading model, offering a richer array of financial tools and greater arbitrage opportunities, making it more favored by professional traders and quantitative teams. Binance only officially launched pre-market trading at the end of 2024 and introduced a limit-up mechanism. However, due to its late launch, the selection of coins is extremely limited, and its overall competitiveness still needs to be observed.

At the same time, we note that new Meme players have not relaxed their efforts in pre-market trading. In this "arms race" of pre-market trading, LBank has gradually secured a position in the market relying on its three core advantages:

• Leading delivery times, seizing market opportunities: LBank's latest pre-market asset RED was launched earlier than Binance, with average delivery times leading other exchanges by 30 minutes, allowing users to lock in market prices earlier and avoid risks from high volatility;

• High return rates for pre-market assets, up to 70 times: Data shows that some pre-market trading return rates can reach as high as 70 times, far exceeding the market average. For traders seeking excess returns, LBank's pre-market trading offers superior opportunities;

• Industry-first pre-market compensation mechanism: To reduce the risks for users participating in pre-market trading, LBank has introduced a pre-market compensation mechanism, providing a friendlier trading environment for new users and lowering the psychological barrier to trying new products.

In some respects, pre-market trading resembles a futures product, providing a barometer and market recognition just before market trading. While it offers opportunities, it also brings risks, and users need to conduct a comprehensive assessment before participating, rather than acting blindly. Although each exchange has different layouts in the pre-market, whether involving derivatives, data platforms, or the foundational core of Meme and VC packages, shining with infinite possibilities, LBank's pre-market is more suitable for gaining more new and stability-oriented trading options in a relatively sluggish and highly volatile market.

Conclusion

Culture is fragile, yet resilient. When the market returns to rationality, only platforms that combine speed, depth, and ecological support can continue to benefit. LBank, through its "trident" (fast listing, first in Meme depth, pre-market compensation), not only seized this wave but also redefined the value of exchanges—not merely cold matching machines, but dual hubs of cultural symbols and capital dividends. Its trading keywords not only captured the Meme wave but also redefined the role of CEXs—

• No longer just matching trades, but creators of market value

• No longer passively following, but rule-makers

As LBank community angel officer and risk control advisor Eric He stated: "MEME is the market's direction, and we choose to stand with users to achieve wild growth amidst the bubble." Meanwhile, pre-market trading has also become an important parameter and psychological balancing factor for measuring market direction and value standards.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。