Earlier today, Binance introduced a new meme token, ACT I: The AI Prophecy (ACT), based on the Solana blockchain, and its impact was immediate.
ACT’s value surged by 2000%, leaping from $0.019 to $0.47 within hours, fueled by a massive increase in trading volume.
This rapid rise reflects the heightened interest in high-risk tokens, with ACT marking one of the most significant surges in Binance’s recent listings.
ACT joined another meme coin, Peanut the Squirrel (PNUT), in Binance’s latest listing, though ACT saw a much larger price spike. Both tokens are labelled with Binance’s “Seed Tag,” marking them as high-risk due to potential price swings.
To ensure users understand the volatility involved, Binance requires traders to pass a quiz every 90 days to access these tokens.
Additionally, trading for ACT is unavailable in certain regions, including the U.S. and Canada, due to regulatory restrictions.
Several traders made quick profits from ACT’s remarkable price rise. According to blockchain tracker Lookonchain, one savvy trader invested 2,658 SOL (worth about $457,000) to buy 17.16 million ACT tokens in late October and early November.
After the Binance listing, they sold roughly half for 11,945 SOL ($2.48 million), netting significant gains and still holding ACT valued at nearly $2.74 million.
Not everyone profited from the surge, however. Another investor, dubbed a “diamond hand,” bought 1.9 million ACT for 509 SOL ($79,000) just before the listing.
Despite an early downturn, they held on, eventually selling at a $36,000 loss. Lookonchain noted that if the trader had waited, they could have seen profits exceeding $750,000.
