Accidental Token Surge: Nirvana Project’s VANA Skyrockets 2700% After Binance Launchpool Announcement

The Nirvana project token, VANA, has experienced an unprecedented surge in value after Binance Launchpool announced it will list a native EVM-compatible L1 blockchain token of the same name. Despite the two tokens sharing the same name, they have no connection, with the Nirvana token linked to a metaverse-centered initiative and the Binance-listed token being part of the Vana explorer, an EVM-compatible L1 blockchain for user-owned data.

Mistaken Identity Sparks Price Surge

Following the Binance announcement, crypto traders mistakenly associated the Nirvana token with the Vana explorer token, causing its value to skyrocket by up to 2700% since its launch, according to CoinMarketCap. At the time of writing, the token has increased by over 1200% after months of stagnant activity on the charts. The token is currently trading at $0.0015, with a 2432% surge in trading volume to $616,640 and a 609% increase in market cap to $90,750.

Vana Network and Tokenomics

The Vana network promotes itself as “the first open protocol for AI data sovereignty.” Its native token, which has not been launched yet, will be used to power its ecosystem and support user-owned, decentralized data transactions. The token economics of VANA include:

  • Maximum token supply: 120 million VANA
  • Token allocation:
    • Vana community: 44% with a 36-month unlocking period
    • Ecosystem: 22.9% with a 48-month unlocking period
    • Core contributors: 18.8% with a multi-year unlocking period
    • Investors: 14.2% with a multi-year unlocking period

Binance Listing and Trading Details

Open trading for VANA/USDT, VANA/BNB, VANA/FDUSD, and VANA/TRY trading pairs will be available starting on December 16 at 10:00 UTC. Binance will apply the seed tag to the Vana token due to its freshly launched status. The platform has set hourly hard caps per user of 8,500 VANA in the BNB pool and 1,500 VANA in the FDUSD pool. Additionally, Binance supports VANA farming with a total daily reward of 2.4 million tokens.

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