China-Linked Meme Coin Niulai Jumps 40% on Binance Listing Announcement
Summary
- China-linked meme coin Niulai jumped about 40% on news of a Binance listing.
- Niulai’s market capitalization surged to a record $147 million immediately after the listing announcement.
- Seed Tag will be applied to Niulai, and Binance previously offered up to 10x leverage trading.
Forecast Trend Report by Period
China-linked meme coin Niulai jumped about 40% on news that it will be listed on global cryptocurrency exchange Binance.
BlockBeats reported on September 9 that Niulai’s market capitalization surged to a record $147 million immediately after Binance announced the listing. That marked a gain of nearly 40% from the previous day.
Binance said it will begin spot trading in Niulai at 11:30 p.m. Korea Standard Time on September 9. The exchange will offer three trading pairs: NIULAI/USDT, NIULAI/USDC and NIULAI/TRY.
Niulai will carry a Seed Tag, which Binance applies to early-stage projects with higher volatility or risk than other listed tokens.
Binance previously launched a perpetual futures contract for Niulai in late August and offered leverage of up to 10x.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul