Two Solana (SOL)-based memecoins are going parabolic after receiving sudden support from Binance, the world’s largest crypto exchange.
Binance announced spot trading support for Act I: The AI Prophecy (ACT), which exploded over 2,224% early Monday.
ACT is trading at $0.486 at 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 project.
The exchange also announced the listing of memecoin Peanut the Squirrel (PNUT), also a Solana-based coin. PNUT is trading at $0.39 at the time of writing, up 320.8% in the last 24 hours with a market cap of $390.7 million.
Binance applies a seed tag to ACT and PNUT, which the exchange applies to projects with lower liquidity that may exhibit higher volatility compared to other listed tokens. The exchange requires users who own seed-tagged assets to take quizzes every 90 days to ensure they are aware of the risks before trading the tokens.
So said a pseudonymous on-chain analyst Ai_9684xtpaBinance has listed 15 different memecoin projects since early 2024, with 80% of the tokens seeing significant rallies post-listing.
Last week, Binance posted monkey-themed PONKE, a memecoin that is up more than 5,000% this year. In September, Binance announced spot trade support for First Neiro (NEIRO), leading to a rally of over 965% within hours.
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Generated image: Midjourney
