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Cryptocurrency News Articles
Popcat (POPCAT) Explodes by More Than 30% After Binance Futures Listing
Aug 23, 2024 at 02:55 am
Cat-themed meme coin Popcat (POPCAT), surged to highs of $0.58 on Aug. 22. The gains for this Solana (SOL) meme coin came as the crypto market
Solana (SOL)-based meme coin Popcat (POPCAT) soared by more than 30% on Aug. 22 after a major listing announcement from Binance.
The cat-themed meme coin surged to highs of $0.58 on Monday, surging from lows of $0.43. The gains came as the crypto market reacted to Binance Futures unveiling a perpetual contract for POPCAT.
Binance stated that the listing of the USD-Margined Popcat perpetual contract expands trading options on Binance Futures. The move also aims to enhance the overall trading experience for crypto investors, with POPCATUSDT perps going live on the platform at 13:00 UTC on August 22, 2024.
The listing provided additional buoyancy for the Solana meme coin, with a whale withdrawing over 39,800 SOL from Binance to buy POPCAT.
According to Lookonchain, the “crazy buying of $POPCAT” involved 39,816 SOL tokens, valued at over $5.73 million at the time of the transaction. The whale withdrew the funds and used them to purchase 10 million POPCAT.
Apart from Popcat, another top-performing token among the largest 500 cryptocurrencies by market cap at the time of writing was Sun (SUN). The TRON (TRX) platform token soared amid major moves for TRX, driven by new meme coin hype on the launch platform SunPump.
The SunPump network surpassed Solana-based Pump.fun in daily revenue on Aug. 21, while TRON revenue also hit an all-time high as founder Justin Sun aggressively touted SunPump's potential.
Notably, SUN token's 35% surge in 24 hours also followed Binance Futures listing the SUNUSDT perpetual contract with up to 75x leverage.
Other tokens that witnessed significant price gains following Binance Futures listings include Brett, Voxel and Synapse.
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