New Solana-Based Memecoin Explodes After Binance Launches Perpetual Futures Support

A newly launched memecoin on Solana (SOL) has achieved a $1.1 billion market cap in lower than 48 hours following its itemizing on Binance, the most important crypto change on this planet.

Early on Saturday, Binance introduced it was launching perpetual futures for Guide of Meme (BOME), a coin launched by artwork producer DarkFarms who focuses on items based mostly on Pepe the Frog, a personality typically used for numerous memes.

BOME skyrocketed instantly after launch, and following the announcement from Binance, BOME went from $0.0077 to $0.0268 in simply a number of hours, an extra rally of almost 250%.

BOME has retraced since and is buying and selling at $0.0186 at time of writing with a market cap of $1.037 billion and a totally diluted valuation of $1.297 billion.

First spotted by blockchain monitoring agency Lookonchain, an unknown pockets withdrew $2.3 million value of Solana in an effort to purchase BOME shortly earlier than the Binance itemizing.

Says Lookonchain,

“A contemporary pockets withdrew 12,721 SOL ($2.3 million) from Binance and purchased 314 million BOME at $0.0074 [in] 30 minutes.

Does he know one thing we don’t?”

Across the identical time as its itemizing on Binance, crypto change Kucoin – recognized for its “altcoin gems” – additionally announced it will be supporting the brand new memecoin. KuCoin says customers can now commerce the BOME/USDT pair on its spot buying and selling platform.

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