NFT
The Impact of Binance Listing on Solana Meme Coins
Tuesday. November 12 at 6:30 AM
1 min. readFollowing Binance's announcement of listing two Solana meme coins, ACT and PNUT, for spot trading, both tokens experienced significant price surges. PNUT's market cap rose from $129 million to $447.5 million, while ACT soared by over 2,000%. The coins, inspired by real-life events, gained popularity rapidly. However, ACT's co-founder, Amplifiedamp, expressed discomfort with the project, citing misgendering and misinformation within the community. Amp called for a rebranding of the token and distanced themselves from further centralized exchanges. The Pump.fun tokens, including GOAT and MOODENG, were also listed on Binance, with PNUT and ACT being the latest additions for spot trading. This move signifies the growing influence of meme coins in the cryptocurrency market, driven by social media trends and community engagement.