One Solana (SOL)-based memecoin is going parabolic after receiving sudden support from Binance, the world’s largest crypto exchange.
Binance announced futures contracts in the USDT trading pair are supporting Comedian (BAN), which rose to a new all-time high of $0.378 on Monday.
BAN has since retreated and is trading at $0.292 at the time of writing, up more than 1,600% from its early November low of $0.017. With a market capitalization of $287.4 million, BAN is the 275th largest crypto project.
According to the project websiteis the memecoin inspired by the 2019 artwork titled “Comedian” by Italian artist Maurizio Cattelan. The artwork, featuring a banana taped to the 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 reflect on their own participation in a new meta, driven by humor, hype and sometimes the absurd. The comedian becomes not only a currency but also 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, challenging participants to think about where real value lies in art, finance and the very memes that capture the spirit of the times.
Binance also announced futures contracts in the USDT trading pair, support for decentralized cloud computing altcoin Akash Network (AKT).
AKT is trading at $3.74 at the time of writing, up 12.8% in the last 24 hours.
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Generated image: Midjourney