On November 11, 2024, Binance, one of the leading cryptocurrency exchanges, will officially list the new altcoins—Act I: The AI Prophecy (ACT) and Peanut the Squirrel (PNUT). Trading for these coins will commence today at 13:00 (UTC), with the available trading pairs being ACT/USDT and PNUT/USDT. This addition aims to broaden the accessibility of these coins to users, while the withdrawal process for both tokens is expected to start the following day.
What Risks Are Associated with ACT and PNUT?
Both ACT and PNUT will bear a “Seed” label denoting their inherent risks. This classification signifies that while these projects are seen as innovative, they are also subjected to significant market fluctuations.
How Do ACT and PNUT Work?
These newly listed coins are categorized as memecoins and operate on the Solana blockchain. ACT, known for its concept titled Act I: The AI Prophecy, and PNUT, inspired by a fictional character Peanut the Squirrel, are now accessible through their respective smart contract addresses shared by Binance.
Traders should be cautious, as both altcoins carry high volatility and speculative risks. Key takeaways include:
- ACT and PNUT are labeled as memecoins, increasing their susceptibility to market swings.
- Binance advises users to conduct thorough research before engaging in trading these altcoins.
- Investors must closely monitor their investments due to the unpredictable nature of newly launched tokens.
With the introduction of ACT and PNUT, Binance continues to expand its offerings to meet the demands of a diverse trading community. Users are encouraged to stay informed and manage risks effectively while navigating the evolving landscape of cryptocurrency.