Two altcoins are surging, with one outperforming the other, following a Binance listing announcement that sparked a buying frenzy.
Listing announcements on popular exchanges like Binance or Coinbase often create strong fluctuations for related altcoins.
BANK and MET Join Binance Spot with Seed Tag
Binance is preparing to list two new Token , Lorenzo Protocol (BANK) and Meteora (MET), and the market has reacted immediately to the announcement.
Ahead of the official listing at 14:00 UTC (just under 4 hours to go), BANK is up over 60%, while MET is up almost 10%.
The sudden move reflects strong speculative interest even before trading opened on the world's largest exchange, a typical reaction to listing announcements, as traders expect increased liquidation .
Recently, Clearpool (CPOOL) price also surged above 2-month high following the announcement of listing on Upbit.
It should be noted that BANK’s stronger performance than MET may be related to the recent development of the Meteora Token . Coinbase listed MET and aPriori (APR), enabling Spot Trading for both starting October 23.
While the listing resulted in a 93% increase in APR, MET corrected down 15%, possibly due to criticism and FUD related to the previous Airdrop distribution. BeInCrypto reported that wallets associated with insiders of the meme-coin TRUMP received about 4.2 million MET in the Airdrop, which was then transferred to OKX.
Additionally, Meteora founder Benjamin Chow is being named in a class action lawsuit related to previous meme-coin projects like LIBRA and MELANIA.
For BANK, the price increase may reflect early accumulation by traders, expecting a liquidation boom when Spot Trading on Binance begins. Notably, 63 million BANK Token will be allocated for future marketing campaigns, which could increase visibility and short-term momentum.
What Users Need to Know About BANK and MET on Binance
Despite the FUD, Binance's listing announcement still provides important information:
Binance confirms Spot Trading for BANK/ USDT, BANK/ USDC, BANK/TRY, MET/ USDT, MET/ USDC, MET/TRY pairs will open at 14:00 UTC.
Users can deposit Token now, withdrawals will open on November 14 at 14:00 UTC.
Both Token will carry a Seed Tag , a label for newly launched and highly volatile projects. Binance reminds users to complete the Seed Tag quiz every 90 days to be able to trade, ensuring traders understand the risks of trading new projects.
BANK and METR were previously listed on Binance Alpha Market , a pre-listing Token pool. Once Spot Trading begins, Token will be delisted from Alpha and user balances will be automatically transferred to Spot Accounts within 24 hours.
Spot ALGO orders will be enabled immediately upon listing, with Trading Bots and Spot Copy Trading enabled within 24 hours. Binance also clarified that BANK and METR volume on Alpha will no longer count towards Alpha Points after Spot listing.
Binance warns that both BANK and METR are new, high-risk Token that can be highly volatile. Therefore, traders are advised to DYOR (do their own research) before trading and practice strict risk management.
