Popular cryptocurrency exchanges Binance and Bybit have decided to list the memecoin named BOOK OF MEME (BOME), according to their official statement. While Binance will list the altcoin in question in futures, Bybit will list it in the spot market.
Thus, BOME will not be traded in the spot market on Binance and can be traded through futures transactions.
BOME is one of the memecoins that has become popular recently and has increased by approximately 1200% in the last two days after its launch. At the time of writing this article, BOME has an impressive market value of $ 870 million and with the latest move, it has also been listed on major cryptocurrency exchanges.
Following the listing announcements by both Binance and Bybit, the price of the altcoin increased by 220% today alone.
Recently, memecoins have been making surprising climbs under the bullish influence in the cryptocurrency market. However, none of these altcoins carry any intrinsic value and they are rising purely due to speculation on price.
Avalanche Foundation also recently purchased Memecoin due to the market frenzy.
*This is not investment advice.