According to reports, Justin Sun has eaten a banana artwork worth $6.2 million at an event in Hong Kong. #Bananagun

Background: Just last Wednesday night, at Sotheby's contemporary art auction, a banana that has caused controversy in the art world for many years was sold for $6.2 million (including commission). This can be said to be the most expensive fruit in the world - although it may be thrown away in a few days.

The banana is the subject of a 2019 conceptual artwork by renowned prankster Maurizio Cattelan, Comedian, which features a banana taped to a wall. It comes with a certificate of authenticity and instructions for the installation, and if the banana rots, its owner can always replace it - if they wish. Five minutes of quick bidding ends! #山寨币走势展望

Later, Justin Sun, the founder of TRON, who is known as the harvester of the crypto market, beat six other competitors to buy the work. He excitedly posted a message announcing that he bought the banana!!! He also said that he would eat it on Douyin live broadcast on November 29!

Before Sun bought Banana for 6.2 million USD, that is, before 9:16, Ban was frantically pushing up the price, and many retail investors shouted: Sun is awesome! However, after 9:16, Ban was frantically dumping the price, and retail investors said: Sun is still Sun! $TRX

The market data shows that BAN fell below 0.17 USDT and is currently trading at 0.163 USDT, with a 24-hour drop of 31.87%.

According to GMGN data, Ban, a meme coin with the Cattelan banana as its background and listed on Binance contracts, rose by about 20% in five minutes, and its market value exceeded US$230 million in the short term. However, perhaps affected by the overall price correction of the Meme sector, Ban has now fallen back to US$175 million, with a drop of 32.23% in the past 24 hours.

Breaking news! Justin Sun eats a banana worth $6.2 million on livestream

On November 29, the founder of TRON, Justin Sun, ate a banana artwork worth $6.2 million at an event in Hong Kong. Netizens can also watch the live broadcast on Douyin! From Justin Sun's sharing on the spot, he is very aware of the huge traffic behind this event.

Will the ban be enforced again as expected? Although the small waves are nothing, Sun Yuchen's 6.2 million bid for Banana and 30 million investment in the Trump family's crypto project World Liberty Financial (WLFI) not only gave the WLFI project a financial respite, but also made Sun Yuchen a hot topic again. This kind of close binding of personal brand and crypto project converts hot spots into actual traffic through hype. And these traffics inject new vitality into his ecology, forming a self-circulation.

However, the Sotheby's concept meme derived from eating "banana" has become a hot topic in the crypto circle!

What other Sotheby's concept memes are there?

Ban

How did this banana spread to the Meme market? According to my initial impression, around 11pm on Friday, a chain hunter prompted GMGN.AI to show that one of the front-row holders of the banana concept coin $Ban on the Solana chain was Michael Bouhanna (@michaelbouhanna), vice president of Sotheby's, and his holding accounted for 3.78% of the total.

Earlier that day, the vice president personally tweeted to promote the banana, saying, "For me, this is the most important work of the 21st century." In addition, he had previously released his wallet address, which seemed to further confirm the legitimacy of the "Sotheby's vice president personally acting as the banker Meme" line.

At that time, the market value of $Ban was around 100,000 US dollars. As soon as the news came out, $Ban immediately rose. Within an hour, the market value reached a maximum of around 7 million US dollars, and the maximum increase was nearly 70 times.

After the deletion of tweets at the high point of the coin price led to a stampede and the market's enthusiasm for the hype of Big Banana gradually cooled. Vice President Michael Bouhanna announced on Twitter that he would attend the Binance Conference as a senior executive of Sotheby's. At the same time, people also found that Sotheby's official account changed its profile picture to a picture with a tape banana element. Ban's coin price has come back to life. Regardless of the market's top or the careful manipulation of the banker, the 25 million market value represents that the concept of banana has been initially recognized by the market.

And these Sotheby's concept memes

Comedian (Pan): "Tape + Pepe" concept, Comedian is a meme coin with the theme of walking towards a banana, and its narrative is that Maurizio Cattelan (comedian) will be listed at Sotheby's auction house in November this year.

ANANAB (ANANAB): Role reversal, tape wrapped, opposite to the concept of banana on the wall, the person wrapped in tape on the wall is a person, and the observer is a banana. The picture should have come from the first hype of tape banana in 2019, used to satirize those who hyped bananas.

Banana D (Comedian): The concept of banana’s “real name” is the opposite of Dragon One $Ban. This token uses banana’s real name Comedian as the token symbol. The angle seems correct, but from the price performance, it seems that players are not very willing to pay for it. $BANANA

Sotheby' ($Sothebys): Sotheby's changed its profile picture. The concept is simple and easy to understand, but the angle is a bit biased, and the price performance is also average.