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The popular cryptocurrency exchange, Binance, has recently introduced a new digital coin called BRC-20 Sats (1000 SATS) as a tribute to the creator of Bitcoin, Satoshi Nakamoto. This new altcoin, named Satoshi, has been listed on Binance as “BRC-20 Sats (1000SATS)” and will be available for trading in various pairs such as 1000SATS/USDT, 1000SATS/FDUSD, and 1000SATS/TRY.
Deposits for trading 1000 SATS have already been allowed, and withdrawals will begin on December 13th. Additionally, Binance is introducing 1000SATs as tradeable assets as part of the 1000SATS/USDT isolated margin feature.
Following the announcement of 1000SATS’ listing, the prices of the altcoin surged by over 70%. Prior to the announcement, the altcoin was trading at $0.0000002510, but it increased by 74.28% to $0.0000003548 after the news.
BRC-20 Sats (1000 SATS) is a reference to bitcoin and serves as a tribute to Satoshi Nakamoto, the person behind its development. SATS is short for satoshi, which is the smallest denomination in bitcoin, equivalent to 0.00000001 BTC. Each SPS represents one thousand satoshi.