UTILITY Market Cap Falls to $7.3 million, 24-hour Growth Rate Narrows to 18.5x

BlockBeats News, August 14th, according to GMGN market data, the market capitalization of Binance Wallet's Meme token UTILITY has fallen to $7.3 million, with a 24-hour gain of 18.5x and a 24-hour trading volume of $20.3 million. Yesterday night, UTILITY's market cap briefly exceeded $10 million.

CZ had previously stated in a post on January 30th that GME should issue a utility token on the blockchain, preferably on BSC. Today, bStocks officially retweeted CZ's old tweet and announced that GMEB (GameStop's bStocks version tokenized stock) is now trading on the platform.

BlockBeats Note: The UTILITY trading pair is UTILITY/GMEB, rather than the common BNB or USDT as the liquidity pair. This belongs to the current popular "Stock Meme" trend on BSC, using bStocks' US stock token (here GMEB) as the base pool, focusing on the classic narrative of the GameStop retail investors' battle against Wall Street, and Meme stocks.

BlockBeats reminds users that Meme coins often lack practical use cases, have high price volatility, and investment should be approached with caution.