BOME Price Rallies 220% After This Binance Announcement

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The Book Of MEME crypto, a meme coin constructed on the Solana blockchain, has taken the crypto market by storm, because the BOME value witnessed an astounding surge of over 220% in its value. Meanwhile, there’s a flurry of things that will have contributed to the latest good points within the BOME value. Notably, the sudden spike in BOME’s worth might be largely attributed to a groundbreaking announcement from Binance, shaking up the buying and selling panorama for this burgeoning cryptocurrency.

Binance Unveils USDS-M BOME Perpetual Contract

Binance, a number one crypto exchange, has set the stage for a seismic shift within the buying and selling realm with its newest announcement. Notably, the announcement unveils the launch of the USDS-M BOME Perpetual Contract on Binance Futures, boasting leverage of as much as 50x. This transfer not solely expands Binance’s buying and selling choices but in addition injects contemporary momentum into BOME’s value trajectory.

Meanwhile, the newly launched perpetual contract, scheduled for launch on March 16, 2024, at 12:30 (UTC), underscores Binance’s dedication to empowering merchants with numerous alternatives. With BOME USDT Perpetual Contract set because the underlying asset, merchants can leverage as much as 50 occasions their preliminary funding, amplifying potential good points within the burgeoning cryptocurrency market.

In addition, Binance’s announcement comes sizzling on the heels of Bybit’s revelation of Spot itemizing for BOME/USDT pairs on its platform. This twin endorsement from main exchanges additional bolsters investor confidence in BOME’s potential, setting the stage for additional development within the close to time period.

Also Read: Top Analyst Predicts Bitcoin Price Correction to $63K, Best Time to Sell Meme Coins

Solana Surge & Whale Activity Sparks Discussions

The meteoric rise of BOME’s value finds extra help within the broader uptrend witnessed in Solana’s ecosystem. Solana-based altcoins, together with BOME, have garnered important consideration from buyers, fueled by the latest value surge of Solana and associated initiatives like Jupiter (JUP), which surged almost 50% in a single day. Notably, the Solana price additionally rallied 10% throughout writing, suggesting the rising confidence of the buyers in the direction of the crypto’s potential.

In addition, the on-chain analytics platform Lookonchain experiences huge BOME transactions, hinting at insider data. Lookonchain’s report of a latest transaction reveals a pockets withdrawing 12,721 SOL, price $2.3 million, from Binance yesterday, to buy 314 million BOME at $0.0074 in simply half-hour.

Meanwhile, one other pockets spends 14,371 SOL, price $2.69 million, for 715 million BOME, stirring value manipulation considerations. Besides, the primary transaction of shopping for 314 million BOME has sparked discussions over potential insider data.

Notably, as BOME continues to seize headlines with its exceptional value rally, the crypto market braces for additional developments fueled by Binance’s game-changing announcement and the evolving dynamics throughout the meme coin ecosystem.

Meanwhile, the BOME value was up 220.21% to $0.01327 throughout writing, whereas its buying and selling quantity skyrocketed 105.61% to $2.39 billion. Notably, the crypto has touched a excessive of $0.01507 and a low of $0.003909 within the final 24 hours.