Major cryptocurrency exchanges Binance and Upbit announced two altcoins listings today, leading to significant price increases and market activity.
Memecoin PALU has been added to Binance’s Alpha platform. Meanwhile, Upbit has announced that it will introduce trading support for Doodles (DOOD).
With sponsored With sponsored
PALU’s market value rises to more than $80 million on Binance’s Alpha listing
PALU is a community-driven meme mascot token issued by the BNB chain. The token first attracted attention after Binance founder Changpeng Zhao (CZ) reposted fan artwork featuring the CZ-themed PALU mascot.
This sparked a big pump, further amplified by the official listing of PALU by Binance’s Alpha Platform, which highlights emerging tokens. After cryptocurrency listing, the token’s market capitalization skyrocketed from about $3 million to more than $80 million.
At the time of writing, PALU’s market capitalization had been adjusted to $74.4 million. Today, it is trading at $0.77 amid a rapid development, and has so far increased 1,693.7%.
Furthermore, the market has suggested that Memecoin’s strong performance and community appeal could make it a strong candidate for Binance’s official listing.
With sponsored With sponsored
“To be honest, @palucto feels like the perfect mascot coin for Binance. You wouldn’t be surprised if it was on Binance’s main list next time,” the analyst wrote.
Nevertheless, behind the explosive rise, data on the chain reveals coordinated purchasing activities that have driven the surge. On-chain analysts noted that after the announcement, 12 addresses purchased a PALU worth around $2.98 million, which contributed to the rising prices.
DOOD record highs after upbit listing
In addition to Binance Alpha, Upbit will also expand its spot platform offering today. In a recent notice, the exchange announced that DOOD will be listed and trading will begin at 4:30pm Korean Standard Time (KST).
This token can be traded against two pairs: Tether (USDT) and Korean won (KRW).
“Receipts and withdrawals are only supported through the specified network (DOOD – Solana). Please check your network before making a deposit. The DOOD contract address supported by Upbit is DvjbEsdca43oQcw2h3HW1CT7N3x5vRcr3QrvTUHnXvgV,” says Upbit.
Following the announcement, altcoins have skyrocketed from $0.0066 to a high of $0.018, rising 178%. The latter also recorded a new all-time high (ATH) for DOOD.
The trading price at the time of writing was $0.014, up nearly 126% since the announcement, and its market capitalization exceeded $120 million.
