Yesterday (November 18), Binance announced the launch of the emerging cryptocurrency BAN, which has attracted strong market attention. On the day of its launch, the price of BAN experienced an astonishing surge, rising over 11% within five minutes of the announcement, reaching a peak of $0.52. This phenomenon once again validates Binance's influence and traffic effect. As one of the largest cryptocurrency exchanges in the world, Binance's exposure and liquidity support for newly launched projects are undoubtedly significant.
BAN's Short-term Surge on Binance
Yesterday (November 18) around 5:30 PM, Binance announced the launch of BAN on its platform. According to AICoin's short-term K-line, within five minutes of the announcement, BAN surged by 11%, and within three hours, it increased by over 110%, peaking at $0.52, with a current price of $0.28.
Image Source: AICoin
The inspiration for the BAN token comes from an abstract artwork created by an Italian artist, which sparked heated discussions at a Sotheby's auction. Leveraging this strong cultural symbol, BAN quickly gained popularity on social media, attracting the attention of investors.
It is noteworthy that Sotheby's Vice President Michael Bouhanna played an important role in this process. His tweets and holding information were interpreted as support for BAN, further driving the dramatic fluctuations in its price. At that time, BAN's market capitalization was only $100,000, and as soon as the tweet was released, BAN immediately surged, with its market cap reaching a maximum of $7 million within an hour, achieving a peak increase of nearly 70 times.
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More Diverse Memes 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 niche in the market due to their fun nature and the viral effect of social media.
The earliest meme coins often featured animal themes, such as Dogecoin (DOGE) and Shiba Inu (SHIB). These coins successfully attracted a large following through their cute imagery and active communities, creating a strong market effect. Binance has also played a significant role in this process by launching these coins, helping them gain greater market exposure and liquidity.
As the market matures and investor interests evolve, the themes of meme coins have begun to diversify. In addition to animal themes, elements of art, culture, and science fiction have gradually been incorporated into the creation of meme coins. From the Memecoins launched by Binance in 2024, it can be seen that the meme coins launched before November were mostly animal-related, resembling a large zoo. However, several new coins launched in November have started to break out of this classification, such as BAN, which originates from banana art, ACT, which is related to AI experimental projects, and MOG, which is associated with leader imagery.
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According to the latest statistics, the market capitalization of the Memecoins launched on Binance has exceeded one hundred million, with Solana accounting for 60% and Ethereum for 20%. So far, only one project has declined after its launch.
The trend of diversification among 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 hype behind them; they also value their creativity and cultural significance. This evolution in trend has prompted trading platforms like Binance to pay more attention to diverse elements when selecting coins for launch.
Conclusion
The surge in BAN's price after its launch 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 technological advancements 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.
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