Two Solana (SOL)-based memecoins are going parabolic after earning sudden support from Binance, the world’s largest crypto exchange.
Binance announced spot trading support for Act I:The AI Prophecy (ACT), triggering more than a 2,224% explosion early on Monday.
ACT is trading for $0.486 at time of writing, up from its 24-hour low of $0.0191. With a market cap 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 for $0.39 at time of writing, up 320.8% in the last 24 hours with a market cap of $390.7 million.
Binance is applying a seed tag to ACT and PNUT, which the exchange applies to lower-liquidity projects that may exhibit higher volatility compared to other listed tokens. The exchange requires users who own assets with seed tags to pass quizzes every 90 days to ensure they’re aware of the risks before trading the tokens.
According to pseudonymous on-chain analyst Ai_9684xtpa, Binance has listed 15 different memecoin projects since the beginning of 2024, with 80% of the tokens seeing significant rallies after listing.
Last week, Binance listed monkey-themed PONKE, a memecoin that’s up over 5,000% this year. In September, Binance announced spot trading support for First Neiro (NEIRO), triggering over 965% rallies in a matter of hours.
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