As a seasoned researcher with years of experience in the crypto market, I must admit that the recent listing of ACT I: The AI Prophecy and Peanut the Squirrel tokens on Binance has certainly piqued my interest. The massive price spikes following the announcement are reminiscent of the wild west days of cryptocurrency trading, where fortunes could be made (or lost) overnight.
On Monday, Binance, the world’s biggest crypto exchange, declared the addition of two fresh meme coins to its platform: The AI Prophecy (ACT) and Peanut the Squirrel (PNUT). This announcement has triggered significant surges in the prices of both tokens. The value of ACT tokens has soared more than 1,300%, while PNUT’s price has increased by approximately 250%.
The cryptocurrencies ACT and PNUT are garnering substantial attention, much like other popular Solana meme coins in the crypto world, following their listing on a crypto exchange.
Binance Lists AI Prophecy and Peanut the Squirrel Tokens
Starting on November 11, Binance has announced that they will begin spot trading for ACT and PNUT coins. Users can trade these cryptocurrencies in pairs with USDT (ACT/USDT and PNUT/USDT). Withdrawals for both tokens will be available from November 12, offering additional liquidity options. This news has led to a significant increase in the prices of ACT and PNUT.
Option 1: Both ACT and PNUT are marked with Binance’s Seed Tag, which signifies that they carry higher volatility and risk. AI Prophecy Coin, a meme coin with an artificial intelligence theme, is one of the offerings in this category. As another fun choice for speculative traders on the exchange, there’s also Peanut the Squirrel.
In some regions like the U.S., Canada, and the Netherlands, users won’t be allowed to trade ACT and PNUT. This is due to our ongoing compliance efforts to adhere to local rules and prioritize user security.
Listing Sparks Concerns in Crypto Market
Specialists like Leonidas have raised concerns that Binance has evolved into a “pump-and-dump” mechanism, which deliberately hurts individual investors and fosters an unwholesome market for meme coins. It’s alleged that large investors buy and sell these tokens after short periods (hours or weeks), trapping smaller investors in the process, according to some crypto enthusiasts.
presently, the ACT token is being exchanged at $0.35, marking an impressive surge of around 1,300% within the past 24 hours. The highest recorded price was $0.36, while the lowest dipped to $0.019. The substantial increase in trading volume by nearly 4,000% over the last day points towards significant market demand for this token.
Currently, PNUT is trading at $0.37, representing a substantial 250% increase over the past 24 hours. Its highest and lowest points during this period were $0.42 and $0.091 respectively. The significant 24-hour volume of $306 million underscores the rising interest in this token.
The rise in ACT’s price coincides with the current meme coin craze. Lately, Dogecoin has climbed to the sixth spot, pushing past Ripple (XRP) and USD Coin (USDC).
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2024-11-11 11:55