VANA token skyrockets more than 2700% after Binance Launchpool announcement

Nirvana Project token VANA forms a candlestick, hitting 2,700% after Binance Launchpool announced it would list an EVM-enabled native L1 blockchain token of the same name.

The VANA token tied to a metaverse-centric initiative called the Project Nirvana skyrocketed to great heights after Binance Launchpool published a announcement saying it will list a native token of the Vana explorer, native EVM-compatible L1 blockchain for user-owned data.

Although the Nirvana token has no relation to the VANA token, Binance plans to list on December 16 at 10:00 UTC, it seems that crypto traders have confused the VANA token linked to the Nirvana project as the Vana Explorer token n is not available on the market. Again.

In the hours following Binance’s announcement of its intention to list VANA, the Nirvana token formed a candlestick, climbing as much as 2,700% since its launch according to CoinMarketCap. At the time of writing, the token is up over 1,200% after months of mostly stagnant activity on the charts.

VANA is currently trading at $0.0015. Its trading volume in the last 24 hours saw a 2,432% increase to $616,640. During this time, its market capitalization increased by 609% to $90,750.

It appears that Binance Launchpool’s VANA announcement accidentally brought a nearly dead token back to life. THE account related to the Nirvana project was last seen in June 2024 but has since stopped.

The Vana network bills itself as “the first open protocol for AI data sovereignty.” Its native token has not yet launched, but the protocol says the token will be used to power its ecosystem and support user-owned decentralized data transactions.

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

Binance sets an hourly cap per user of 8,500 VANA in the BNB pool and 1,500 VANA in the FDUSD pool. Binance also supports VANA farming for a total amount of 2.4 million total daily reward tokens.

With maximum token provide Out of 120 million VANA, the Vana network has allocated 44% of its token supply to the Vana community with an unlock period of 36 months and 22.9% to the ecosystem with an unlock period of 48 months. Meanwhile, major contributors and investors get 18.8% and 14.2%, respectively, with a release period spanning several years.