One Solana (SOL)-based memecoin is going parabolic after earning sudden support from Binance, the world’s largest crypto exchange.
Binance announced futures contracts in the USDT trading pair support for Comedian (BAN), which soared to a new all-time high of $0.378 on Monday.
BAN has since retraced and is trading for $0.292 at time of writing, up more than 1,600% from its low in early November of $0.017. With a market cap of $287.4 million, BAN is the 275th largest crypto project.
According to the project’s website, the memecoin was inspired by the 2019 artwork titled “Comedian” by Italian artist Maurizio Cattelan. The artwork, which featured a banana taped to a wall, sold at Sotheby’s for $120,000.
“This satirical cryptocurrency doesn’t just ask buyers to invest in a coin; it invites them to consider their own participation in a new meta driven by humor, hype, and, occasionally, the absurd. Comedian becomes not only a currency but a cultural critique, embodying both the ingenuity and absurdity that have come to define meme culture in the digital age. Through this coin, the spirit of Cattelan’s banana lives on, daring participants to consider where true value lies in art, finance, and the very memes that capture the zeitgeist.”
Binance also announced futures contracts in the USDT trading pair support for decentralized cloud computing altcoin Akash Network (AKT).
AKT is trading for $3.74 at time of writing, up 12.8% in the last 24 hours.
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The post Solana Memecoin Rips 1,603% in November As Binance Announces Suprise Support appeared first on The Daily Hodl.
