POPCAT surges 30% amid Binance news, massive whale buy

Solana-based meme coin Popcat has joined the top-performing coins with a more than 30 percent increase following a major listing announcement from Binance.

Cat-themed meme coin Popcat (POPCAT) reached highs of $0.58 on Aug. 22. The gains for this Solana (SOL) meme coin came as the crypto market reacted to Binance Futures listing a perpetual contract for POPCAT. Per the exchange’s announcement, perps provide traders with up to 75x leverage.

Binance stated that the listing of the USD-Margined Popcat perpetual contract expands trading options on Binance Futures. The move also improves the overall trading experience for crypto traders, with POPCATUSDT perps going live on the platform at 13:00 UTC on August 22, 2024.

Whale pulls out SOL to buy POPCAT

The listing appears to have provided additional vitality for the Solana meme coin, which has been rallying from lows of $0.43. Notably, the gains followed a whale withdrawing over 39,800 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 POPCATs.

SUN token also rose with Binance listing

At press time, the best-performing token among the top 500 cryptocurrencies by market cap, in addition to Popcat, was Sun (SUN). The TRON (TRX) platform token rose amid major moves for TRX, driven by the new meme coin craze on launch platform SunPump.

The SunPump network surpassed Solana-based Pump.fun in daily revenue on August 21. TRON revenue also reached an all-time high as founder Justin Sun aggressively praised SunPump’s potential.

Notably, the SUN token’s 35% surge in 24 hours also followed Binance Futures listing its SUNUSDT perpetual contract with up to 75x leverage. Other tokens that have seen significant price increases following their Binance Futures listings include Brett, Voxel, and Synapse.