On the Binance platform, a meme token called Sats with the symbol 1000SATS has appeared. Trading of this asset on the spot market in pairs with USDT, FDUSD, and the Turkish lira started on December 12th at 15:00 Moscow time, and withdrawals will be available after 24 hours. Additionally, two days after listing, 1000SATS will be available as a borrowing asset in isolated margin pairs with USDT. After its debut on Binance, the Sats token price surged by 160%, reaching $0.000631.
The Sats asset was added to the Binance platform with the "Seed Tag" label, which is assigned to new projects that may have increased volatility and risks compared to other tokens traded on Binance.
The exchange's team emphasized that 1000SATS is a meme token developed by anonymous creators.
The Sats token was launched on the BRC20 standard in the Bitcoin network as a sign of respect to the creator of the first cryptocurrency known as Satoshi Nakamoto. Additionally, satoshis are the smallest fractional part of Bitcoin (0.00000001 BTC), so an asset with the ticker 1000SATS is equal to 1000 satoshis or 0.00001 BTC.
The total supply of the meme token is 2.1 quadrillion Sats, and at the time of writing this article, more than 21.5 million transactions had been conducted, with 45,565 users holding it.
Also, on December 13th, Binance will launch cryptocurrency farming for the gaming project Fusionist (ACE), allowing users to lock BNB and FDUSD to earn ACE for a period of five days, after which the asset will be listed on the platform.
