- POPCAT, the top cat-themed meme coin on Solana, surged more than 30% after listing on Binance Futures
- A massive whale withdrew 39,816 SOL tokens worth over $5.73 million from Binance and used them to buy 10 million POPCAT tokens
- The SUN token of the TRON platform also surged by 35% in 24 hours following Binance Futures listing with up to 75x leverage
POPCAT, the top cat-themed meme coin on Solana, surged more than 30% leading the top-performing coins after a major listing announcement from Binance.
Popcat Explodes Over 30%
Cat-themed meme coin Popcat (POPCAT) surged to highs of $0.058 on Aug. 22. The gains for this Solana meme coin came as the crypto market reacted to Binance Futures listing of a perpetual contract for POPCAT. The perps allow traders up to 75x leverage, according to the exchange’s announcement.
Binance stated that the listing of the USD-Margined Popcat perpetual contract expands trading options on Binance Futures. The move also enhances the overall trading experience for crypto investors, with POPCAT/USDT perps going live on the platform at 13:00 UTC on August 22, 2024.
Whale Withdraws SOL to Buy Popcat
The listing appears to have provided additional buoyancy for the Solana meme coin, which surged from lows of $0.043. Notably, the gains followed a whale’s withdrawal of more than 39,816 SOL from Binance, which was then used to buy POPCAT.
According to Lookonchain, the “crazy buying” of POPCAT involved 39,816 SOL tokens worth over $5.73 million. The whale withdrew the funds and used them to purchase 10 million POPCAT.
Sun Token Also Surges on Binance Listing
In addition to Popcat, the top-performing token among the largest 500 cryptocurrencies by market cap at the time of writing was Sun (SUN). The TRON platform token soared amid major moves for TRX driven by new meme coin hype on the launch platform SunPump.
The SunPump network surpassed Solana-based Pumpfun in daily revenue on Aug 21. TRON revenue also hit an all-time high as founder Justin Sun aggressively touted SunPump’s potential.
Notably, SUN token’s 35% surge in 24 hours also followed Binance Futures listing of the SUN/USDT perpetual contract with up to 75x leverage. Other tokens that witnessed significant price gains following Binance Futures listings include Brett, Voxel, and Synapse.
Conclusion
The listings on Binance Futures provided a boost to both Popcat and Sun Token. The meme coin hype continues to drive price action and trading volumes across top exchanges like Binance. Crypto investors are closely monitoring new meme coin listings and related announcements to capitalize on potential pumps.
