Binance already offers $NEIRO

tokens as a futures product. But the surprise spot listing of a different NEIRO has fuelled a rocket rally.

• The announcement of Binance listing First $Neiro on Ethereum (NEIRO) for spot trading triggered a massive 700% price surge, catapulting its market cap from $15 million to $146 million in a day, with trading volumes skyrocketing from $8 million to over $220 million.

• Binance's decision to list two different NEIRO tokens, one for futures and another for spot trading, each with distinct contract addresses, has led to community backlash and confusion over which token represents the "true" NEIRO.

• NEIRO, inspired by Neiro, a Shiba Inu related to the Dogecoin mascot Kabosu, has spawned multiple tokens across blockchains. Despite the community's enthusiasm, Kabosumama, Neiro's owner, has explicitly distanced herself from endorsing any NEIRO tokens.

A Binance spot listing of a token related to dogecoin (DOGE) has fueled a 700% rally in its prices, one of the biggest jumps on a listing in recent months.

Binance said early Monday it would offer First Neiro on Ethereum (NEIRO), and two other tokens, as part of its spot offering to users later in the day. The influential exchange already offers Neiro tokens as a futures product - and a subsequent spot listing is an industry practice.

The twist, however, is that the two NEIRO tokens have different contract addresses and are maintained by different teams.

NEIRO tokens jumped over 700% instantly after the Binance announcement, before paring gains, zooming from a market capitalization of $146 million from Sunday’s $15 million. Trading volumes jumped from $8 million in a 24-hour-period over Saturday to Sunday, to over $220 million in the past 24 hours.

Binance data shows that the existing futures of the NEIROETH token has bagged nearly $1 billion in trading volumes in the past 24 hours. Its prices are down 40% since early Asian trading hours Monday, with most losses coming after Binance decided to list the First Neiro on Ethereum token (listed under only “NEIRO”) on its platform.

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