USELESS leads hourly liquidations after Binance perpetual futures listing

Useless Coin (USELESS) saw large-scale short liquidations after the announcement of an upcoming listing on Binance’s futures market. USELESS is the most prominent meme token from the LetsBonk.fun ecosystem. 

Useless Coin led liquidations in the past hour, with over $316.65K in shorts wiped out after a rapid price rally. The token surged to a one-week high of $0.31, following its usual range of volatility. Over $311K was liquidated in short positions, with just $5K in long positions. 

Based on the USELESS liquidation heatmap, the token may rally further to around $0.35 to attack the accumulated liquidity.

USELESS is still building up its open interest, at around $28.7M. The token’s main activity is on Gate.io, with smaller pairs on Orca and Raydium. Despite this, USELESS has turned up among the most active assets for the day, showing it can generate significant hype. USELESS started at around $0.012 in May, gaining over 2,175% in the year to date. 

USELESS is also already a Binance Alpha token, adding to its exposure and amplifying the market reaction. Despite the meme’s recent start, the asset is also available on Binance.US. The token is also represented on Kraken, as the exchange is one of its biggest holders. 

The USELESS rally was triggered by the announcement of a new perpetual futures market on Binance. Trading was scheduled for 12:15 UTC, causing a rally on other USELESS markets. 

USELESS is still building up its liquidity, as even top decentralized traders have only extracted $1.7M from the project, a relatively small haul compared to the boom period of meme tokens. Whales were also mostly selling USELESS during the recent rally, aiming to realize larger gains. 

USELESS draws attention to LetsBonk tokens

USELESS is the leading token to graduate from the LetsBonk launchpad and build liquidity and a cult following. The token carries a total market cap of $324M, while the total value of the LetsBonk ecosystem tokens was around $508M. 

The token has 31,787 owners, on par with other cult assets, with 13.9K followers on social media. USELESS focuses on its lack of any utility, joining the list of “financial nihilism” tokens. 

We’d say "trust the process," but there isn’t one

— useless coin (@theuselesscoin) August 15, 2025

The biggest advantage of USELESS is the meme token status, which the US Securities and Exchange Commission still considers entirely different from unregistered securities. USELESS also leans into the lack of utility of meme tokens in general. 

Can USELESS go to $1B valuation?

USELESS uses humor to keep its community together, one of the recipes for meme tokens that rarely lose their appeal. The token also targets the $1B valuation, a golden standard for memes. Previously, cult tokens like GIGACHAD and FARTCOIN were the first launchpad assets to trade at above $1B market cap. 

Only four Solana meme tokens retain a valuation above $1B, as the market generally shrinks from its peak. USELESS is still ranked sixth among Solana meme tokens, with a total valuation of $1B. Even BONK, the token behind the LetsBonk launchpad, is valued at around $1.8B. 

Despite this, USELESS is highly active on social media and may become the next Solana meme token to gain prominence and adoption.