SATS Surges 150% Following This Exchange Listing Announcement; Expert Reveals Intriguing Data About Top 20 Holders

2023-12-12 13:30

The satoshi-denominated token SATS has seen explosive growth since the announcement of its listing on Binance, with trading volume and holder interest spiking. SATS will be made available on Binance in 3 hours and 15 minutes, according to the countdown by Binance.

On-chain analytics provider Lookonchain reports that the SATS price has risen 155% in the aftermath of its Binance debut. Additionally, the top 20 SATS holders now control 333.3 trillion tokens, worth over $150 million—nearly 16% of the total supply.

Signs point to a major whale accumulation of SATS tokens, likely in anticipation of further adoption among Bitcoin supporters.

24 hour trading volumes have likewise seen immense growth exceeding 624%, reaching $160 million largely through Gate.io and KuCoin.

For context, SATS denotes tokens according to Bitcoin’s smallest unit known as “satoshis”: 100 million satoshis equal 1 BTC. So the SATS token essentially applies satoshi quantities to an ERC-20-style asset using the BRC-20 standard.

With Bitcoin sitting firmly under $42k still, more investors may be viewing SATS as an intriguing derivative bet on BTC reaching higher valuations long-term.

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The on-chain data and volume metrics suggest surging bullish momentum that could be just getting started. SATS appears positioned to capitalize on Bitcoin’s next rally by denominating value in stackable satoshi units.

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The post SATS Surges 150% Following This Exchange Listing Announcement; Expert Reveals Intriguing Data About Top 20 Holders appeared first on CaptainAltcoin.

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sats binance announcement listing spiking trading interest

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