A Solana-based memecoin named Act I: The AI Prophecy (ACT) has skyrocketed by over 1,720% following its listing on Binance and Crypto.com.

• The token first launched on October 19 and had a market cap around $20 million over the weekend.
• Following the listing, trading volume exploded: $293 million on decentralized exchange Raydium and $60 million on Binance, boosting its market cap to $422 million as of press time.

The surge in ACT's value coincides with a notable rise in Bitcoin's price, pushing the original cryptocurrency to around $82,120 after the election of crypto-friendly Donald Trump as U.S. president. Other memecoins, like Dogecoin, have seen gains of approximately 21% this week.

ACT, centered around a Discord server that integrates several AI chatbots, is notable for its volatile trading environment. Current market depth is limited, showing just $93,000 downside and $214,000 upside with only about 2% market depth on Binance, leading to significant price fluctuations with even minor trades.

Binance also introduced a traditional memecoin, Peanut the Squirrel (PNUT), valued at $450 million, showcasing the shifting landscape in the crypto market.