Act I: The AI Prophecy
| Act I: The AI Prophecy | |
|---|---|
| Token | |
| Ticker | $ACT |
| Contract | GJAF…pump |
| Chain | Solana |
| Launched | 2024-10-19 |
| Launchpad | pump.fun |
| Status | Active |
| Also known as | ACT Act I ACTSOL AI Community Token AI Prophecy |
| Market | |
| Price | — |
| Market cap | — |
| Liquidity | — |
| Volume (24h) | — |
| Change (1h) | — |
| Change (24h) | — |
| Links | |
| DEX Screener · Birdeye · GMGN · Solscan · pump.fun | |
Act I: The AI Prophecy (ticker ACT) is a Solana memecoin created on pump.fun and named after Act I, a fundraising project for AI research.[1] It rose about 2,000% after Binance announced a spot listing on 11 November 2024, and lost about half its value within minutes on 1 April 2025.[1][2]
Lore[edit]
Act I was started in August 2024 by a pseudonymous researcher known as Amp, to fund researchers and AI agents without relying on a few large backers.[1] The token was created on pump.fun by people outside the project, who donated part of the supply to its goal.[1] The project's site describes ACT as an "AI Community Token" focused on AI research, education and collaboration.[1]
Amp later said the token had used Act I's branding without permission, that they had distributed, burned or sold all the ACT they received, and asked for the token to be rebranded.[1] Amp also said they wished it to be listed on no further centralised exchanges.[1]
Binance announced an ACT spot listing with its Seed Tag on 11 November 2024, the same day it listed Peanut the Squirrel.[1] ACT's market cap went from about $21 million to about $460 million within roughly ten hours.[1] It later peaked above $890 million.[2]
Timeline[edit]
- 2024-08: Amp starts the Act I project[1]
- 2024-11-11: Binance announces ACT spot listing; market cap reaches about $460 million[1]
- 2025-04-01: ACT falls about 50% within minutes on Binance; about $3.89 million of positions liquidated there[2][3]
Controversies[edit]
On 1 April 2025 ACT, DeXe and dForce fell 20% to 50% within minutes on Binance.[2] Traders blamed a change Binance made to the leverage and margin tiers on ACT perpetual futures, which raised the collateral needed to keep positions open.[3] Binance attributed the drop to spot sales by four accounts, three of them "VIP users", and said the fall liquidated some futures positions.[2] CoinGlass data showed $3.89 million in ACT positions liquidated on Binance, mostly longs.[3] Over 24 hours ACT's market cap fell from $179.4 million to $60.5 million, per DEX Screener.[3]
An analyst citing Arkham data said market maker Wintermute had sold large amounts of ACT that day.[2] Wintermute sold $255,503 of ACT on Raydium and about 15 minutes later bought $377,656 on Binance; its CEO Evgeny Gaevoy called the trades "basic arbitrage" by its algorithm.[3] The episode prompted a "Boycott Binance" campaign on social media.[3]
See also[edit]
References[edit]
- ^ 'Binance Effect': Peanut the Squirrel, Act I: The AI Prophecy Meme Coins Skyrocket, Decrypt, 2024-11-11
- ^ Multiple altcoins suddenly crash on Binance, ACT loses 50% in minutes, The Block, 2025-04-01
- ^ Traders Pledging to 'Boycott Binance' in Uproar After $3.9 Million Meme Coin Liquidations, Decrypt, 2025-04-02