10 minutes big pump 10 times! What is ACT listed on Binance? The founder was once heavily criticized for dumping?

Today, Binance announced that The AI Prophecy ($ACT) will be listed for Spot trading at 18:00. After the news was released, $ACT skyrocketed, with its price increasing more than 10 times in 10 minutes. The market capitalization rose from $20 million to $240 million, and the price briefly surged to around $0.3.

The meme wave is still not over, and it is rare for Token, with an initial market value of only $20 million, to be listed on this coin security. So, what exactly is $ACT?

$ACT is a meme Token running on Solana on-chain, with a Maximum Supply close to 1 billion. The AI Prophecy is a Decentralization research lab, focusing on empirical research on multi-human and multi-AI dynamics. Its core mission is to democratize AI knowledge and make it accessible to everyone. Through various initiatives, resources, and community-driven content, $ACT is committed to breaking down the barriers to AI understanding. The community focuses on helping people learn the basics of AI, encouraging discussions on AI ethics, and supporting research and development in the industry.

$ACT's X and TG group's total number of fans is only 10,000. The logo image is a human-eye image generated by AI.

Image source: Foresight News

The community also provided over $1 million in funding to a team of AI researchers supported by Mark Anderson. Previously, Andy Ayrey was in that research team and created the well-known AI meme coin $GOAT. AmplifiedAmp (abbreviated as Amp) in the team co-founded The AI Prophecy with some members.

Amp promises to cultivate a Decentralization, community-driven ecosystem. Initially, 6% of the token supply will be transferred to Amp as project launch funding.

However, what happened next took most people by surprise.

Amp continues dumping $ACT tokens to profit from it, while claiming to be for the collective interest.

This has led to a considerable amount of dissatisfaction and hatred among the community members, and then AMP stated that it has stopped selling coins, and also stated that it is not a meme coin trader or the person in charge of the encryption project, but just the AI developers chosen by the fans.

Image source: Foresight News

In addition, he also destroyed an equal amount of $ACT Tokens, a total of 1,745,004 Tokens, valued at $41,000 at the time, but now worth as much as $3.87 million.

Image source: Foresight News

However, in the end, Amp sold all $ACT Tokens and chose to leave. This has left many people in the community feeling betrayed, and its token price has experienced several dramatic fluctuations.

After Amp's exit, the community did not disband, but instead showed unity and secured project funding of over $1 million. The official website also stated that since Amp's exit, $ACT has been a project driven entirely by the community, with decisions made collectively by dedicated members. In addition, the $ACT community is focusing on AI knowledge sharing and education, making AI knowledge accessible to the public and enabling everyone to use it.

After Binance announced the listing of $ACT, AMP just tweeted that $ACT has always been an unauthorized brand and admitted to distributing, destroying, and selling all $ACT Tokens they received, and they also do not want it to be listed on a centralized exchange. Finally, they expressed their willingness to help the community transition smoothly to the new brand.

According to the announcement of the coin exchange, the coin fee for $ACT is 0 BNB, which was verified by @0xWizard, who is active in the $ACT community. This is rare compared to the exorbitant coin fees of millions of k dollars that were exposed not long ago.

After the rise of AI-class Tokens, such as $GOAT, AI concept Tokens have received market attention and capital inflows. These include AI agents, AI computing, and so on. AI-class meme Tokens have greater volatility, and investors need to pay attention to risk control.

Disclaimer: The market is risky and investment should be cautious. This article does not constitute investment advice. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Invest at your own risk.

This article is authorized for reprint from: 'Foresight News'

Original author: 1912212.eth, Foresight News

10x big pump in 10 minutes! What is ACT listed on Binance? The founder was heavily criticized for dumping?