Listings on Binance, the world’s largest cryptocurrency exchange, usually lead to an increase in altcoin prices. However, this was not the case for this altcoin.
Mubarak (MUBARAK), a memecoin that has attracted great attention since its launch and has the support of CZ, has received the good news of listing from Binance.
Accordingly, the “vote-to-list” event that Binance recently launched has ended.
It was stated that according to the voting results, Mubarak (MUBARAK), CZ’S Dog (BROCCOLI714), Tutorial (TUT) and Banana For Scale (BANANAS31) altcoins will be listed.
Binance stated that these tokens will have Seed Tags applied to them and will be available for trading starting at 00:00 (UTC+3) on March 28, 2025.
However, the Binance listing had an adverse effect on the MUBARAK price, and the MUBARAK price dropped by 40% in the last 24 hours.
Experts state that the decline in the price of MUBARAK, despite its listing on Binance, is due to sales. Since its first day of release, MUBARAK has reached $0.21 with the support of CZ. Investors who want to evaluate this rise seem to have started selling.
According to Lookonchain’s post, an investor spent $2,861 to buy 6.14 million MUBARAK on March 13. Following the Binance listing news, he deposited his MUBARAKs to Binance and made a profit of $760,000.
However, this investor who missed the peak would have made a profit of $1.3 million if he had sold at the peak.
MUBARAK continues to trade at $0.084, down 40% at the time of writing.
This trader spent $2,861 to buy 6.14M $MUBARAK on March 13 and deposited it to #Binance 7 hours ago, making a ~$760K profit. But at its peak, the 6.14M $MUBARAK was worth $1.3M—meaning he missed out on ~$540K in additional gains.
pic.twitter.com/2JZ9R5PjH7
— Lookonchain (@lookonchain)
March 28, 2025
*This is not investment advice.