Binance to List 2 New Altcoins — One Soars 60% Before Trading Even Begins
Two altcoins are on a tear, with one outperforming the opposite considerably, following a Binance itemizing announcement that sparked a shopping for frenzy.
Listing bulletins on standard exchanges similar to Binance or Coinbase have a tendency to encourage robust strikes from concerned altcoins.
BANK and METR Join Binance Spot with Seed Tag
Binance is making ready to record two new tokens, Lorenzo Protocol (BANK) and Meteora (MET), with the market already taking discover of the announcement.
Ahead of the official itemizing at 14:00 UTC (barely 4 hours from now), BANK has surged over 60%, whereas MET is up almost 10%.
The sudden strikes mirror robust speculative curiosity even earlier than buying and selling opens on the world’s largest trade. It is a typical response to such bulletins, as merchants anticipate elevated liquidity.
Recently, the (*2*) following the announcement of an Upbit itemizing.
Meanwhile, it’s price noting that BANK’s transfer outperforming MET doubtless hyperlinks to a latest improvement for the Meteora token. The Coinbase trade listed MET and aPriori (APR), enabling spot buying and selling for each property as of October 23.
While the transfer fueled a 93% surge in APR, MET was quick to correct, falling by 15%, doubtless due to present criticism and FUD stemming from its airdrop allocation.
BeInCrypto reported that wallets related to TRUMP meme-coin insiders collectively received about $4.2 million in MET tokens in the course of the airdrop, which have been later transferred to OKX.
Moreover, Meteora founder Benjamin Chow is known as in a class-action lawsuit alleging misconduct linked to earlier meme-coin initiatives similar to LIBRA and MELANIA.
Meanwhile, for BANK, the value surge doubtless displays early accumulation from merchants anticipating a liquidity-driven breakout as soon as Binance spot buying and selling opens. Notably, 63 million BANK tokens will likely be allotted for future advertising and marketing campaigns, which might doubtlessly enhance visibility and short-term momentum.
What Users Need to Know About BANK and MET on Binance
The above FUD however, Binance’s itemizing announcement got here with key insights for customers.
- Binance confirmed that spot buying and selling for BANK/USDT, BANK/USDC, BANK/TRY, MET/USDT, MET/USDC, and MET/TRY pairs will open at 14:00 (UTC).
- Users can already deposit their tokens, whereas withdrawals will open on November 14 at 14:00 UTC.
Both property will carry the Seed Tag, a label used for newly launched and subsequently extremely unstable initiatives.
Binance reminded customers that they need to full the Seed Tag quiz each 90 days to entry buying and selling. This will be sure that merchants perceive the potential dangers related to new listings.
Both BANK and METR have been beforehand featured on the Binance Alpha Market, a pre-listing token selection pool. Once spot buying and selling begins, the tokens will likely be delisted from Alpha, and customers’ balances will likely be mechanically transferred to Spot Accounts inside 24 hours.
Spot Algo Orders will likely be enabled instantly upon itemizing, with Trading Bots and Spot Copy Trading set to activate inside 24 hours.
Binance additionally clarified that when listed on Spot, buying and selling volumes for BANK and METR on Alpha will now not rely towards Alpha Points.
Binance cautioned that each BANK and METR are comparatively new and high-risk tokens, doubtless to expertise substantial worth volatility. Therefore, merchants ought to DYOR (do your personal analysis) earlier than buying and selling and apply robust threat administration.
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