Two altcoins are on a tear, with one outperforming the other significantly, following a Binance listing announcement that sparked a buying frenzy.
Listing announcements on popular exchanges such as Binance or Coinbase tend to inspire strong moves from involved altcoins.
BANK and METR Join Binance Spot with Seed Tag
Binance is preparing to list two new tokens, Lorenzo Protocol (BANK) and Meteora (MET), with the market already taking notice of the announcement.
Ahead of the official listing at 14:00 UTC (barely 4 hours from now), BANK has surged over 60%, while MET is up nearly 10%.
Lorenzo Protocol (BANK) and Meteora (MET) Price Performances. Source: TradingView
The sudden moves reflect strong speculative interest even before trading opens on the world’s largest exchange. It is a typical reaction to such announcements, as traders anticipate increased liquidity.
Recently, the Clearpool (CPOOL) price surged to surpass its two-month high following the announcement of an Upbit listing.
Meanwhile, it is worth noting that BANK’s move outperforming MET likely links to a recent development for the Meteora token. The Coinbase exchange listed MET and aPriori (APR), enabling spot trading for both assets as of October 23.
While the move fueled a 93% surge in APR, MET was quick to correct, falling by 15%, likely due to existing criticism and FUD stemming from its airdrop allocation.
BeInCrypto reported that wallets associated with TRUMP meme-coin insiders collectively received about $4.2 million in MET tokens during the airdrop, which were later transferred to OKX.
Moreover, Meteora founder Benjamin Chow is named in a class-action lawsuit alleging misconduct linked to earlier meme-coin projects such as LIBRA and MELANIA.
Meanwhile, for BANK, the price surge likely reflects early accumulation from traders anticipating a liquidity-driven breakout once Binance spot trading opens. Notably, 63 million BANK tokens will be allocated for future marketing campaigns, which could potentially boost visibility and short-term momentum.
What Users Need to Know About BANK and MET on Binance
The above FUD notwithstanding, Binance’s listing announcement came with key insights for users.
Binance confirmed that spot trading for BANK/USDT, BANK/USDC, BANK/TRY, MET/USDT, MET/USDC, and MET/TRY pairs will open at 14:00 (UTC).
Users can already deposit their tokens, while withdrawals will open on November 14 at 14:00 UTC.
Both assets will carry the Seed Tag, a label used for newly introduced and therefore highly volatile projects.
Binance reminded users that they must complete the Seed Tag quiz every 90 days to access trading. This will ensure that traders understand the potential risks associated with new listings.
Both BANK and METR were previously featured on the Binance Alpha Market, a pre-listing token selection pool. Once spot trading begins, the tokens will be delisted from Alpha, and users’ 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 set to activate within 24 hours.
Binance also clarified that once listed on Spot, trading volumes for BANK and METR on Alpha will no longer count toward Alpha Points.
Binance cautioned that both BANK and METR are relatively new and high-risk tokens, likely to experience substantial price volatility. Therefore, traders should DYOR (do your own research) before trading and apply strong risk management.
