Binance Futures Trading Listings
On Wednesday, Binance stirred excitement in the crypto community with the announcement of its latest futures trading listings: the meme-inspired coin CHILLGUY and the Morpho lending protocol token, MORPHO. This addition comes on the heels of CHILLGUY’s remarkable feat of achieving a market capitalization exceeding $600 million, just two weeks after its debut.
Data from CoinGecko reveals that CHILLGUY’s value has increased by about 7% in the last 24 hours, contributing to an impressive weekly rise of around 80%. The token experienced a surge during early trading, hitting a peak of $0.65, although it has since pulled back to roughly $0.53.
Market Positioning of CHILLGUY
Current assessments suggest that CHILLGUY’s market cap is approximately $534 million, placing it ahead of notable names in the meme coin arena like Turbo (TURBO) and Moodeng (MOODENG). Analysts believe it is on track to surpass Book of Meme (BOME) in terms of market positioning among meme coins.
It’s not uncommon for meme tokens to see volatile price shifts following a Binance listing. However, CHILLGUY’s rise has proven to be somewhat fleeting. Following the announcement, its value jumped 13% to $0.62, but it has since dipped back below the $0.60 threshold. In contrast, MORPHO has benefited significantly from the listing, boasting a price increase of over 40% and a staggering total of 80% in daily gains.
CHILLGUY’s Artistic Inspiration
CHILLGUY draws its inspiration from a well-known digital artwork by Phillip Banks, which humorously portrays a relaxed character known as the ‘Chill Guy.’ This depiction features an anthropomorphic brown dog clad in a grey sweater and blue jeans, sporting a laid-back demeanor with its hands tucked casually in its pockets.
The recent surge in CHILLGUY’s popularity was further fueled by a tweet from El Salvador’s President Nayib Bukele, an ardent supporter of Bitcoin. His post, featuring the Chill Guy meme, ignited a remarkable 65% jump in CHILLGUY’s value within a mere 90 minutes.
Despite the burgeoning excitement surrounding CHILLGUY, artist Phillip Banks has voiced his concerns regarding the unauthorized utilization of his artwork in crypto projects. He has made it clear that he does not endorse any cryptocurrency initiatives associated with his designs.
Source: Cryptobriefing
