Yesterday (November 18), Binance announced the listing of the emerging cryptocurrency BAN, which sparked intense market attention. On the day of listing, the price of BAN experienced an astonishing surge, rising over 11% within five minutes of the announcement, reaching a high of $0.52. This phenomenon once again validates the influence and traffic effect of the Binance platform. As one of the largest cryptocurrency exchanges in the world, the exposure and liquidity support it provides for newly listed projects is undoubtedly significant.
BAN's short-term surge after listing on Binance
Yesterday (November 18) at around 5:30 PM, Binance announced the listing of BAN on the platform. According to AICoin's short-term candlestick chart, within five minutes of the announcement, BAN surged by 11%, and within three hours, the increase exceeded 110%, reaching a high of $0.52, with the current price at $0.28.
Image Source: AICoin
The BAN token is inspired by an abstract artwork created by an Italian artist, which sparked heated discussions at a Sotheby's auction. Leveraging this strong cultural symbol, BAN quickly became popular on social media, attracting the attention of investors.
It is worth noting that Michael Bouhanna, the Vice President of Sotheby's, played an important role in this process. His tweets and holding information were interpreted as support for BAN, further driving the drastic fluctuations in its price. At the time, BAN's market capitalization was only $100,000, and once the tweet was released, BAN immediately surged, with its market capitalization reaching a maximum of $7 million within an hour, with an increase of nearly 70 times.
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More diversity in the Meme coins listed on Binance
As one of the world's leading cryptocurrency trading platforms, Binance has been exploring and promoting the launch of emerging coins. Meme coins, as a unique category of cryptocurrency, have gradually carved out a place in the market due to their fun nature and the viral effect of social media.
The earliest Meme coins often had animal themes, such as Dogecoin (DOGE) and Shiba Inu (SHIB). These coins successfully attracted a large following and formed a strong market effect through their cute imagery and active communities. Binance also played an important role in this process by listing these coins and helping them gain greater market exposure and liquidity.
As the market matures and investors' interests change, the themes of Meme coins are becoming more diverse. In addition to themes related to zoos, elements of art, culture, science fiction, and others are gradually being integrated into the creation of Meme coins. From the Memecoins launched by Binance in 2024, it can be seen that Meme coins listed before November were mostly related to animals, essentially creating a large zoo, while several newly listed coins in November began to break away from this classification, such as BAN, which originated from banana art, ACT related to AI experimental projects, and MOG related to leader imagery.
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According to the latest statistics, the market capitalization of the Meme coins currently listed on Binance has exceeded one hundred million, with Solana accounting for 60% and Ethereum for 20% of the network distribution. So far, only one project has declined after being listed.
The trend of diversifying popular Meme coins provides investors with more choices and injects new vitality into the cryptocurrency market. When choosing Meme coins, investors are no longer solely focused on the community and market popularity behind them, but also value their creativity and cultural significance. The evolution of this trend has also prompted trading platforms like Binance to pay attention to more diversified elements when selecting new coins for listing.
Summary
The explosive growth of BAN after being listed on Binance reflects the diversified development of the entire Meme coin market. As more Meme coins with different themes enter the market, cryptocurrency investors will have more opportunities to explore and discover emerging investment trends. The role that Binance plays in this process will continue to influence the development direction and market ecology of Meme coins.
With advancements in technology and further market development, Meme coins may showcase their potential in more fields. Whether in culture, entertainment, or other innovative areas, Meme coins could become an important bridge connecting different markets and investors. As a pioneer in this field, Binance will continue to lead the trend of Meme coins, providing investors with more opportunities and possibilities.
