Popcat, a meme coin on the Solana blockchain, saw a dramatic price spike of more than 35% on August 23, reaching $0.60. This surge came in response to Binance Futures listing a perpetual contract for POPCAT, which offers traders up to 75x leverage.
The Binance listing of the USD-Margined Popcat perpetual contract has significantly boosted trading options on Binance Futures, enhancing the crypto trading experience. The POPCATUSDT perps went live at 13:00 UTC on August 22, 2024.
The surge in Popcat’s price followed a major whale move, over 39,800 SOL, worth more than $5.7 million, was withdrawn from Binance and used to purchase 10 million POPCAT tokens. This large transaction, reported by Lookonchain, fueled the dramatic increase in Popcat’s value, which rose from $0.43 to a high of $0.60.
In addition to Popcat’s impressive gains, the SUN token on the TRON platform also experienced significant growth. The SUN token surged by 60% in 24 hours after Binance Futures listed the SUNUSDT perpetual contract with up to 75x leverage.
This surge followed the success of SunPump, a new meme coin launch platform that outperformed Solana’s Pump.fun in daily revenue and drove TRON’s revenue to an all-time high.
Binance’s recent listings have sparked notable price increases in several tokens, including Brett, Voxel, and Synapse, demonstrating the impact of such announcements on the crypto market.
