The meme cryptocurrency Satoshi saw a 140% price surge within hours of leading crypto exchange Binance announcing it would list the token.

According to prominent on-chain analytics platform Lookonchain, the top 20 holders of Satoshi (SATS) now control 333.3 trillion tokens worth $150.8 million. This constitutes 15.9% of the total supply. Six of these top holders obtained their SATS through minting, accumulating around 78.57 million SATS now valued at $35.5 million.

At the time of writing, the price of SATS stands at $0.0000004896, showing a staggering 138.03% daily increase. This substantial price movement comes on the heels of Binance officially announcing it would list BRC-20 SATS, which represents 1,000 times the value of SATS, on its platform.

Trading will open on Dec. 12th at noon UTC, with initial pairs including 1000SATS/USDT, 1000SATS/FDUSD, and 1000SATS/TRY. Users can already begin depositing 1000SATS tokens in preparation. Withdrawals will open a day later.

Binance has set the listing fee for 1000SATS at zero BNB. The token will also be introduced as a borrowable asset on Binance’s isolated margin platform. The new margin pair will be 1000SATS/USDT.

Binance clarified that while 1000SATS represents 1,000 SATS tokens, users can still deposit and trade regular SATS tokens, which will automatically be treated as the equivalent 1000SATS amount. SATS itself pays tribute to Satoshi, the anonymous creator of Bitcoin (BTC). As the smallest denomination, one satoshi is equivalent to 0.00000001 BTC.

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Author: Adrian Zmudzinski

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