New Solana-based Memecoins have exploded after Binance launched perpetual futures support.
The newly launched memecoin from Solana (SOL) achieved a market capitalization of $1.1 billion within 48 hours of being listed on Binance, the world’s largest cryptocurrency exchange.
Early Saturday morning, Binance permanently gifted Book of Meme (BOME), a coin launched by art creator DarkFarms, who specializes in creating works based on Pepe the Frog, a character frequently used in various memes. announced the launch of .
BOME soared immediately after launch, and following Binance’s announcement, BOME rose from $0.0077 to $0.0268 in just a few hours, an additional gain of nearly 250%.
BOME has since declined and, as of this writing, is trading with a market capitalization of $1.037 billion and a fully diluted value of $1.297 billion.
First discovered by blockchain tracking firm Lookonchain, the unknown wallet withdrew $2.3 million worth of Solana to purchase BOME shortly before the Binance listing.
Lookonchain says:
“The new wallet withdrew 12,721 SOL ($2.3 million) from Binance and purchased 314 million BOME for $0.0074 (inch) in 30 minutes.
“Does he know something we don’t know?”
Coinciding with the Binance listing, Kucoin, a cryptocurrency exchange famous for its “altcoin gem,” also announced that it would support the new memecoin. KuCoin says users can now trade the BOME/USDT pair on its spot trading platform.
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