The Meme Cryptocurrency Satoshi Sees a Surge in Price After Binance Listing
The price of the meme cryptocurrency Satoshi has experienced a significant increase following the announcement of its listing on leading crypto exchange Binance. Within hours of the announcement, the price of SATS surged by 140%. As per Lookonchain, a prominent on-chain analytics platform, the top 20 holders of SATS now possess 333.3 trillion tokens worth $150.8 million, accounting for 15.9% of the total supply. Six of these top holders acquired their SATS through minting and currently hold around 78.57 million SATS valued at $35.5 million.
Currently, the price of SATS is $0.0000004896, indicating a staggering daily increase of 138.03%. This substantial price movement was triggered by Binance’s official announcement regarding the listing of BRC-20 SATS, which represents 1,000 times the value of SATS.
Trading Details and Listing Fee
Trading for SATS will commence on December 12th at noon UTC, with initial trading pairs including 1000SATS/USDT, 1000SATS/FDUSD, and 1000SATS/TRY. Users can already deposit 1000SATS tokens in preparation for trading, and withdrawals will be available a day later.
Binance has waived the listing fee for 1000SATS, allowing users to trade without any additional cost in BNB. Additionally, Binance will introduce SATS as a borrowable asset on its isolated margin platform with a new margin pair called 1000SATS/USDT.
It is important to note that while 1000SATS represents 1,000 SATS tokens, users can still deposit and trade regular SATS tokens, which will be treated as the equivalent amount of 1000SATS. SATS itself pays homage to Satoshi, the anonymous creator of Bitcoin, with one satoshi being equivalent to 0.00000001 BTC.
Hot Take: The Impact of Binance Listing on SATS Price
The recent listing of SATS on Binance has resulted in a significant surge in its price. This demonstrates the influence that exchange listings can have on the value and popularity of cryptocurrencies. With Binance being one of the leading crypto exchanges globally, the addition of SATS to its platform has attracted attention from investors and traders alike. As a result, SATS has experienced substantial price growth and garnered interest from market participants. It will be interesting to see how the listing on Binance further impacts the future trajectory of SATS and whether it continues to gain momentum in the crypto market.
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