The meme cryptocurrency Satoshi noticed a 140% worth surge inside hours of main crypto alternate Binance asserting it could checklist the token.
In keeping with outstanding on-chain analytics platform Lookonchain, the highest 20 holders of Satoshi (SATS) now management 333.3 trillion tokens price $150.8 million. This constitutes 15.9% of the entire provide. Six of those prime holders obtained their SATS by way of minting, accumulating round 78.57 million SATS now valued at $35.5 million.
On the time of writing, the worth of SATS stands at $0.0000004896, displaying a staggering 138.03% day by day enhance. This substantial worth motion comes on the heels of Binance formally asserting it could checklist BRC-20 SATS, which represents 1,000 occasions the worth of SATS, on its platform.
Buying and selling will open on Dec. twelfth at midday UTC, with preliminary pairs together with 1000SATS/USDT, 1000SATS/FDUSD, and 1000SATS/TRY. Customers can already start depositing 1000SATS tokens in preparation. Withdrawals will open a day later.
Binance has set the itemizing charge for 1000SATS at zero BNB. The token may even be launched as a borrowable asset on Binance’s remoted margin platform. The brand new margin pair will probably be 1000SATS/USDT.
Binance clarified that whereas 1000SATS represents 1,000 SATS tokens, customers can nonetheless deposit and commerce common SATS tokens, which can mechanically be handled because the equal 1000SATS quantity. SATS itself pays tribute to Satoshi, the nameless creator of Bitcoin (BTC). Because the smallest denomination, one satoshi is equal to 0.00000001 BTC.