December 11, 2023 – The price of Satoshi (SATS), a token honoring Bitcoin’s unknown creator, has seen an unheard-of rise, rising by an incredible 138.03% in a single day. This increase comes after prominent cryptocurrency exchange Binance officially announced that it will list the BRC-20 version of SATS on its platform.

Tokenomics and High Holders

According to data from Lookonchain, a well-known on-chain analytics tool, the top 20 SATS holders currently have 333.3 trillion tokens, which are worth $150.8 million. Interestingly, this is 15.9% of the entire supply of SATS. By minting SATS, six of these top holders accumulated roughly 78.57 million SATS, which are currently worth $35.5 million. The price of SATS is $0.0000004896 as of the most recent update, highlighting the noteworthy 138.03% increase over the previous day.

Binance Listing Causes An Increase

The notable change in price corresponds with Binance’s formal declaration that it will list the BRC-20 version of SATS on its platform. Trading for 1000SATS, which is 1,000 times the value of SATS, will start on December at noon UTC, according to Binance’s confirmation. 1000SATS/TRY, 1000SATS/FDUSD, and 1000SATS/USDT will be the first trading pairs. In anticipation, users can currently deposit 1000SATS tokens; withdrawals will start the next day.

In addition, 1000SATS will be accessible as a borrowable asset on Binance’s isolated margin platform. Binance has set the listing cost at $0 BNB. The 1000SATS/USDT margin pair will be the new one.

Users can still deposit and sell standard SATS tokens, according to Binance, even though 1000SATS represents 1,000 SATS tokens. Tokens that are regular SATS will be immediately converted to the equivalent of 1000SATS. Interestingly, SATS honors Satoshi, the mysterious man who created Bitcoin, with one satoshi being equivalent to 0.00000001 BTC.

Without question, the Binance listing has brought SATS to the forefront, generating a great deal of market attention and fueling its incredible price increase. SATS is still drawing interest in the ever-changing cryptocurrency market as the community waits for Binance to commence trading.