VANA token skyrockets more than 2700% after Binance Launchpool announcement

Nirvana project token VANA is forming a candlestick rising up to 2700% after Binance Launchpool announced that it will list the native EVM compatible L1 blockchain token of the same name.

The VANA token, affiliated with a metadatabase-centric initiative called the Nirvana project, skyrocketed to major heights after Binance Launchpool released an announcement saying it would list a native token from the Vana explorer, a native EVM-compatible L1 blockchain for user-owned data.

Although the Nirvana token has no connection to the VANA token that Binance plans to list at 10:00 UTC on December 16, it seems that crypto traders have misunderstood the VANA token linked to the Nirvana project due to the lack of the Vana explorer token in the market yet.

In the hours since Binance announced plans to list VANA, the Nirvana token has formed a candlestick, rising by a crazy 2700% since its launch, according to CoinMarketCap. At the time of writing, the token is up more than 1200% after months of mostly stagnant activity on the charts.

VALVE is currently trading at $0.0015. Trading volume in the last 24 hours increased by 2432% to $616,640. Meanwhile, its market value rose 609% to $90,750.

Price chart for VANA, a token affiliated with the Nirvana project, December 13, 2024 | Source: CoinGecko

It looks like Binance Launchpool’s VANA announcement accidentally brought a nearly dead token back to life. The posting of account X, linked to the Nirvana project, was last seen in June 2024 but has since been stopped.

The Valve network bills itself as “the first open protocol for AI data sovereignty.” Its native token has not yet been launched, but the protocol stated that it will be used to strengthen the token’s ecosystem and support user-owned, decentralized data transactions.

$VALVE tokenomics$VALVE It is the native token of the Valve Network, strengthening its ecosystem and supporting secure, user-owned, decentralized data transactions. It plays a central role in the network’s multi-token ecosystem.

Here’s a look at the token economy that gives new power to data…

— vana (@withvana) December 12, 2024

According to Binance’s announcement, open trading will be possible for VANA/USDT, VANA/BNB, VANA/FDUSD and VANA/TRY trading pairs starting at 10:00 UTC on December 16. Binance will also apply the seed tag to the Valve token due to its newly launched status.

Binance sets an hourly hard limit per user of 8,500 VANA in the BNB pool and 1,500 VANA in the FDUSD pool. Binance also supports VANA farming, worth 2.4 million tokens in total daily rewards.

The Vana network, which has a maximum supply of 120 million VANA tokens, allocated 44% of the token supply to the Vana community with a 36-month unlocking period and 22.9% to the ecosystem with a 48-month unlocking period. Meanwhile, core contributors and investors receive 18.8% and 14.2% respectively, with an unlock period spanning years.

Disclosure: This article does not constitute investment advice. The content and materials on this page are for educational purposes only.