Binance Listing Announcement: BANK Token Explodes, While MET Tanks

Core Insights - Binance has announced the listing of Lorenzo Protocol (BANK) and Meteora (MET) on November 13, 2023, at 2:00 PM UTC, with trading available in USDT, USDC, and TRY pairs [1] - The listing is expected to enhance visibility and liquidity for BANK, while MET has shown a decline in price despite increased trading volume [3][5] Group 1: Listing Details - Both BANK and MET will be available for spot trading, with deposits opening one hour prior to trading and withdrawals starting on November 14, 2023, to prevent price manipulation [1] - Prior to the official listing, users had access to these tokens through Binance Alpha Market, which will remove them once they are live on the spot exchange [2] Group 2: Price Movements - Following the listing announcement, BANK experienced a price surge of over 90%, rising from $0.07 to $0.13, and is currently stabilizing around $0.090 [3] - In contrast, MET's price declined by approximately 7% after the announcement, trading near $0.49, although it saw a 33% increase in its 24-hour trading volume [5] Group 3: Project Insights - Lorenzo Protocol is an institutional-grade, on-chain asset management platform on the BNB Smart Chain, offering yield-generating strategies and liquid staking mechanisms [4] - The current market capitalization of BANK stands at $45.43 million, indicating its potential for growth following the Binance listing [4]