BICO Jumps More Than 90% in 24 Hours as Biconomy Listing News Spurs Buying

BICO jumped more than 90% over the past 24 hours as buying accelerated on news surrounding a new listing on the Biconomy exchange.

Data from global cryptocurrency exchange Binance on June 21 showed BICO up more than 90% from 24 hours earlier. The token traded at $0.0632, with a market capitalization of about $64 million.

The rally has been linked to news that Biconomy plans to list Dream Bowl I Meme Coin Tokens.

Nasdaq-listed Scilex Holding Company said on June 16 that the Dream Bowl token could be listed on the Biconomy exchange as early as June 23.

Scilex previously said the listing could provide liquidity to Dream Bowl token holders and support broader distribution of the token.

The Dream Bowl token is being distributed to Scilex common shareholders and certain eligible equity holders. Holders on record as of April 30 are entitled to receive five Dream Bowl tokens for each share of Scilex common stock, and distribution began on May 26.

The market has treated the Biconomy-related listing news as a short-term catalyst for BICO's surge. Still, the token slated for listing is Dream Bowl, not BICO itself, underscoring the risk of volatility.