A memecoin from the Coinbase ecosystem is rebounding after receiving sudden support from Binance, the world’s largest crypto exchange.
In a new announcement, Binance say it will add futures contracts for Brett (BRETT), a memecoin built on Coinbase’s Ethereum (ETH) layer-2 foundation.
Brett bills himself as the ‘mascot’ of the Base chain.
“To expand the list of trading choices offered on Binance Futures and improve users’ trading experience, Binance Futures will launch the BRETT/USDT Perpetual Contract on 2020-08-20 10:35 (UTC) with up to 50x leverage .”
News of the listing sent Brett flying from a 24-hour low of $0.074 to a high of $0.1028, a gain of more than 38%. Brett has returned at the time of writing and was trading at $0.088, up 19.3% on the day.
According to a new announcement, so is South Korean crypto exchange Upbit mention Brett for trading on his platform.
In April, crypto tracker Lookonchain reported that two wallets made 30,830x gains on the memecoin. The wallets, which were whitelisted by the implementer for the meme asset Brett, spent 0.034 ETH worth $102 to purchase a total of 172.56 million BRETT in February. Those wallets then sold 122.74 million BRETT for 890.65 ETH worth $3.14 million through multiple wallets.
According to Coinbase, whitelisted wallets are approved participants for a specific crypto event, such as an Initial Coin Offering (ICO).
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Generated image: Midjourney