A new memcoin based on Solana (SOL) reached a market value of 11 billion yen within 48 hours of listing on Binance, the world's largest cryptocurrency exchange.
Earlier on Saturday, #Binance announced the launch of permanent futures for Book of Meme (BOME), a coin launched by art producer DarkFarms, who specializes in works based on Pepe the Frog, a character often used in various memes.
Shortly after launch, BOME took off, and following an announcement from Binance, BOME rose from nearly 0.0077 to 0.0268, or nearly 250%, in just a few hours.
BOME has since pulled back and is trading at market0.0186 at the time of writing, with a market capitalization of $1.037 billion and a fully diluted valuation of $1.1297 billion.
Lookonchain, a blockchain tracking company, first learned that an unknown wallet withdrew $2,230 million from #Solana to purchase BOME just before listing on binance.
According to Lookonchain.
"Fresh Wallet withdrew 12,721 Solana (2.3 million yuan) from Binance and bought 314 million BOME for 0.0074 [in] 30 minutes.
Almost simultaneously with Binance's listing, #cryptocurrency exchange Kucoin, known for its "altcoin gems," also announced support for the new memcoin. According to KuCoin, users can now trade BOME /USDT pairs on its spot platform.
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