Solana Memecoin Rips 1,603% in November As Binance Announces Suprise Support

One Solana (SOL)-based memecoin goes parabolic after receiving sudden assist from Binance, the world’s largest crypto change.

Binance announced futures contracts within the USDT buying and selling pair are supporting Comic (BAN), which rose to a brand new all-time excessive of $0.378 on Monday.

BAN has since retreated and is buying and selling at $0.292 on the time of writing, up greater than 1,600% from its early November low of $0.017. With a market capitalization of $287.4 million, BAN is the 275th largest crypto venture.

In keeping with the venture websiteis the memecoin impressed by the 2019 art work titled “Comic” by Italian artist Maurizio Cattelan. The art work, that includes a banana taped to the wall, offered at Sotheby’s for $120,000.

“This satirical cryptocurrency would not simply ask patrons to put money into a coin; it invitations them to mirror on their very own participation in a brand new meta, pushed by humor, hype and typically the absurd. The comic turns into not solely a foreign money but additionally a cultural critique, embodying each the ingenuity and absurdity which have come to outline meme tradition within the digital age. Via this coin, the spirit of Cattelan’s banana lives on, difficult members to consider the place actual worth lies in artwork, finance and the very memes that seize the spirit of the occasions.

Binance additionally introduced futures contracts within the USDT buying and selling pair assist for decentralized cloud computing altcoin Akash Community (AKT).

AKT is buying and selling at $3.74 on the time of writing, up 12.8% within the final 24 hours.

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