One Solana (SOL)-based memecoin is making waves after getting unexpected support from Binance, the largest crypto exchange in the world.
Binance announced that it would support Comedian (BAN) through futures contracts in the USDT trading pair. This news sent the coin soaring to an all-time high of $0.378 on Monday.
Since then, BAN has pulled back a bit. It’s currently trading at $0.292. Still, that’s over 1,600% up from its low of $0.017 earlier this month. With a market cap of $287.4 million, BAN ranks as the 275th largest crypto project.
According to the project’s website, this memecoin draws inspiration from a 2019 artwork called “Comedian” by Italian artist Maurizio Cattelan. The piece featured a banana taped to a wall and sold for $120,000 at Sotheby’s.
The website states, “This satirical cryptocurrency invites buyers not just to invest in a coin but to reflect on their role in a new meta driven by humor, hype, and sometimes absurdity. Comedian is more than just a currency; it’s a cultural critique. It embodies the creativity and absurdity that define meme culture today. Through this coin, the spirit of Cattelan’s banana continues, challenging us to think about where true value lies in art, finance, and the memes that capture our current cultural moment.”
In addition, Binance also announced futures contracts for the decentralized cloud computing altcoin Akash Network (AKT) in the USDT trading pair.
AKT is currently trading at $3.74, showing a 12.8% increase in the last 24 hours.