Solana-based coin Popcat surged over 30% to become the top performing coin after a major listing announcement from Binance.
The cat-themed Popcat (POPCAT) token surged to a record high of $0.58 on August 22. The gains for Solana (SOL) came as the crypto market reacted to Binance Futures’ listing of a Popcat perpetual contract. The token allows traders up to 75x leverage, according to data from the exchange. advertisement.
Binance said the listing of the Popcat USD perpetual contract expands trading options on Binance Futures. The move also enhances the overall trading experience for crypto investors, as POPCATUSDT perps will launch on the platform at 13:00 UTC on August 22, 2024.
Whale pulls SOL to buy POPCAT
The listing appears to have provided additional support to the Solana meme coin, which has surged from its lows of $0.43. Notably, the gains came after a whale withdrew over 39,800 SOL from Binance, which was then used to purchase POPCAT.
according to Look on Chain“The $POPCAT insanity purchase involved 39,816 SOL tokens worth over $5.73 million. The whale withdrew the funds and used them to purchase 10 million POPCAT tokens.”
The value of the SUN token also increased on the Binance list.
In addition to Popcat, the top performing token among the top 500 cryptocurrencies by market cap at the time of writing is Sun (SUN). TRON (TRX) is surging amidst big moves in TRX, driven by the buzz of a new meme coin on the launchpad SunPump.
SunPump Network Overtake Solana-based Pump.fun reported daily revenue on August 21. TRON revenue also hit an all-time high as founder Justin Sun announced his aggressive plans Promoted SunPump capabilities.
It is worth noting that the SUN token’s 35% surge in value in 24 hours came after Binance Futures listed the SUNUSDT perpetual contract with up to 75x leverage. Other tokens that saw significant price gains after Binance Futures listing included Brett, Voxel, and Syapse.
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