BNB Reaches All-Time High Thanks to Meme Coin Platform Launch
Date: 2024-12-05 Author: Oliver Abernathy Categories: BUSINESS
The asset’s value has increased by 19.6% over the past 24 hours, allowing the cryptocurrency to take fifth place in terms of market capitalization, overtaking Solana with $113 billion.
Earlier, in November, competing platform Pump.fun, which operates on a different blockchain, collected $93 million in fees, which is 208% more than the previous month. This success allowed Solana to take the leading position in terms of turnover on decentralized exchanges.
At the time of publication, users have already launched 10 meme tokens through PancakeSwap Springboard, and the capitalization of the largest of them was $227,916. To create a token, you don’t need any programming knowledge — just specify the project name, ticker, and basic parameters.
PancakeSwap Springboard provides this service for free, but there are trading fees of 1% (minimum 0.001 BNB) upon successful token launch. In addition, the platform charges 2% of the collected funds for liquidity, half of which goes to the creator, and the rest to PancakeSwap itself.
Users can choose BNB, USDT, or CAKE as settlement currencies. Once the token liquidity reaches 100% of the set level (24 BNB) on Springboard, it automatically becomes available for trading on PancakeSwap.
Interest in the platform also increased the price of the CAKE token, which rose by 30% in a day.
In October, Pump.fun developers announced the launch of their own token and presented a new trading terminal Pump Advanced, aimed at experienced traders. However, in late November, the platform's streaming shutdown resulted in a 33% drop in revenue.
