Memecoin Brett Rallies 38% After Binance Adds Futures Contracts

A Coinbase ecosystem memecoin is rallying after suddenly gaining support from Binance, the largest crypto exchange in the world.

Binance, the flagship crypto exchange, is adding support for a memecoin that’s soared over 30,000x in value this year.

In a new announcement, Binance says it will launch futures contracts for Brett (BRETT), a memecoin that’s native to Coinbase’s Ethereum (ETH) layer-2 Base. Brett is touted as the “mascot” of the Base chain.

According to the announcement, BRETT/USDT futures will go live on August 20th at 10:35 PM Eastern Time. The futures contracts will be physically settled and have leverage of up to 50x.

The news of the listing has helped propel Brett by more than 38% in the past 24 hours. The memecoin, which dropped as low as $0.074 during theの時間 frame, has surged to as high as $0.1028. At time of writing, Brett is trading at $0.088, up 19.3% on the day.

Brett is now up more than 1,300% since hitting a 2024 low of $0.006 on January 1st.

The massive gains come after crypto tracker Lookonchain in April revealed that two wallets made 30,830x gains on the memecoin. The wallets, whitelisted by the deployer for the meme asset Brett, spent 0.034 ETH ($102) to buy a combined 172.56 million BRETT in February.

Those wallets then sold 122.74 million BRETT for 890.65 ETH ($3.14 million) on-chain via multiple wallets.

Whitelisted wallets are approved participants for a specific crypto event like an initial coin offering (ICO), according to Coinbase.

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