Another community victory? AI MEME coin ACT is about to be listed on Binance and has risen more than ten times. It has been backstabbed by developers many times.

Author: Nancy, PANews

AI MEME coin Act I: The AI Prophecy (ACT) once fell into a trough after experiencing multiple backstabs from Dev (deployers), but now it has dramatically reversed the plot. On November 11, Binance announced the listing of ACT and added a seed tag to it. After this news ignited market sentiment, ACT soared more than ten times in a short period of time. This is also a dark horse among the few low-market-cap MEME coins launched by Binance this year.

DEX Screener data shows that as of the time of writing, ACT's highest intraday increase was 1445.4%, and its market value once soared from more than 20 million US dollars to a maximum of 300 million US dollars. The trading volume in the past 24 hours exceeded 230 million US dollars.

ACT is one of the smaller MEME coins launched on Binance this year. According to the report "A Review of Meme Coin Projects Launched on Binance in 2024" published by on-chain analyst @ai_9684xtpa, Binance does not seem to have a rigid market value requirement for Memecoins launched, and treats all Memecoins with a market value as low as $15.49 million and as high as $881 million equally. The only commonality may be community popularity.

Under the ultra-high return rate, according to the monitoring of on-chain analyst @ai_9684xtpa, the mysterious whale that previously spent 15,140.85 SOL to heavily invest in PNUT, FRED, and OPK has made a floating profit of 3.97 million US dollars. At the same time, according to Lookonchain monitoring, a whale transferred 14,770 SOL (3.03 million US dollars) from Binance to buy Pnut and ACT, causing the prices of Pnut and ACT to rise sharply.

From the story to the accident and then to the reversal, ACT is undoubtedly one of the most tortuous MEME coins in recent times. Since the surge in popularity of GOAT, AI MEME coins have become the focus of market participation, and various projects have competed for the throne of "dragon two". Among them, ACT, as an infrastructure MEME coin, was once considered a strong candidate, and its price also rose sharply, attracting the attention of a large number of investors.

According to PANews , Act I is another AI project funded by Marc Andreessen, founder of a16z, and Andy Adyrey, founder of Truth Terminal, is a member of the project. Light , founder of Pleb Capital, disclosed that Act I has features including unscripted and spontaneous interactions, multi-agent dynamics, continuous and long-term observation, diverse AI participants, and real-world environments. Since AI Agents are isolated at this stage, Act I will become an important infrastructure for these projects and human interactions.

Although ACT’s narrative is attractive, its development path has not been smooth, and the Dev behind it has become the "hidden danger" in this story.

AMP is one of the developers of the ACT project and once held 6% of the total tokens of the project. However, with the support of community funding, this developer repeatedly deceived the community for various reasons and quietly sold all the tokens in his hands. This dishonest behavior greatly damaged the community's trust in him and once had a significant negative impact on the long-term development of ACT. If AMP had not sold the tokens it held, the maximum value of this fund would now exceed 19 million US dollars.

"The reason why everyone scolds amp is that it has deceived the community again and again in the way of shipment, not whether it should ship or not. Selling all of it is a good thing for ACT. From now on, the community only needs to focus on the concept of ACT and this decentralized research project, as well as supporting more 'AI+Crypto' projects in the future. Moreover, the ACT community is no longer just based on the ACT project, but also an 'action', an 'action' to promote the development of Ai in the way of the crypto community?" ACT Chinese community builder 0xWizard once said when amp sold tokens for the last time.

However, the shipment of AMP did not have much impact on the community. According to the data from the on-chain data platform Holderscan, before November 11, the number of ACT holders was nearly 15,000, and the number of addresses holding ACT increased by more than 4,000 today.

0xWizard also disclosed that ACT is promoted by a decentralized research group, not just AMP. Whether he is there or not, it will not affect the progress of the project. In addition to AMP, ACT has 5 to 6 contributors, which will not affect the progress of the project.

Regarding ACT's listing on Binance, amp himself responded in his latest statement, "I have never felt uncomfortable with ACT, but they have been used as my brand logo without my permission. I have distributed, destroyed or sold all the ACT tokens I hold, and I hope it will not be listed on any centralized exchange (CEX) again. I am happy to help the ACT community transition to a new brand and can help other community projects create equally excellent solutions."

It is worth mentioning that amp also quoted a previous tweet in response, saying, "If you want my loyalty, you must earn it through action. I have emphasized many times: I value understanding the impact of my work and predicting its possible future more than money."