James Ding
Nov 11, 2024 05:57
Binance announces the listing of Act I: The AI Prophecy (ACT) and Peanut the Squirrel (PNUT) with seed tags, highlighting potential risks and volatility of these new meme coins.
Leading cryptocurrency exchange Binance has announced the listing of two new meme coins, Act I: The AI Prophecy (ACT) and Peanut the Squirrel (PNUT), both on the Solana blockchain. Trading for these tokens will commence on November 11, 2024, at 10:00 UTC, according to Binance.
Seed Tag Application
ACT and PNUT will be tagged with a ‘seed’ label, indicating their status as innovative projects that might present higher volatility and risk compared to other listed tokens. Binance users interested in trading these coins must complete quizzes every 90 days to acknowledge the associated risks.
Understanding ACT and PNUT
Act I: The AI Prophecy (ACT) positions itself as a meme coin, while Peanut the Squirrel (PNUT) also adopts the meme coin identity, both leveraging the Solana network’s capabilities. Binance emphasizes the importance of users conducting thorough research before engaging with these tokens due to their novelty and potential for high price volatility.
Trading and Withdrawal Details
Users can anticipate the enabling of Trading Bots and Spot Copy Trading within 24 hours of the listing. Withdrawals will follow an estimated schedule, with actual timings available on Binance’s platform. However, residents from several countries, including the United States and Canada, will be restricted from trading these pairs due to regulatory considerations.
Risk Management and Compliance
Binance advises traders to exercise adequate risk management strategies and remain informed about the projects they invest in. The exchange also highlights that the seed tag necessitates users to pass specific quizzes to trade these tokens, ensuring awareness of the risks involved.
These new listings are part of Binance’s ongoing efforts to diversify its offerings and provide users with access to a wide range of digital assets. However, the exchange remains vigilant about the risks associated with trading digital assets, emphasizing the importance of careful investment decisions.
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