Binance Triggers 2.224% Memecoin Blowout After Surprise Listing Announcement

Two Solana (SOL)-based memecoins are going parabolic after receiving sudden help from Binance, the world’s largest crypto change.

Binance announced spot buying and selling help for Act I: The AI ​​​​Prophecy (ACT), which exploded over 2,224% early Monday.

ACT is buying and selling at $0.486 on the time of writing, up from a 24-hour low of $0.0191. With a market capitalization of $456 million, ACT is already the 183rd largest crypto challenge.

The change additionally introduced the itemizing of memecoin Peanut the Squirrel (PNUT), additionally a Solana-based coin. PNUT is buying and selling at $0.39 on the time of writing, up 320.8% within the final 24 hours with a market cap of $390.7 million.

Binance applies a seed tag to ACT and PNUT, which the change applies to initiatives with decrease liquidity that will exhibit greater volatility in comparison with different listed tokens. The change requires customers who personal seed-tagged belongings to take quizzes each 90 days to make sure they’re conscious of the dangers earlier than buying and selling the tokens.

So stated a pseudonymous on-chain analyst Ai_9684xtpaBinance has listed 15 totally different memecoin initiatives since early 2024, with 80% of the tokens seeing vital rallies post-listing.

Final week, Binance posted monkey-themed PONKE, a memecoin that’s up greater than 5,000% this yr. In September, Binance introduced spot trade help for First Neiro (NEIRO), resulting in a rally of over 965% inside hours.

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Generated picture: Midjourney