Poloniex has announced the listing of Stool Prisondente (JAILSTOOL), a meme coin built on the Solana blockchain.
Deposits for JAILSTOOL opened on February 11, 2025, at 05:00 UTC, with trading against USDT starting two hours later at 07:00 UTC. Withdrawals will be available from February 12, 2025, at 05:00 UTC.
This Solana-based meme coin, inspired by Barstool Sports founder Dave Portnoy, has surged in popularity after the media personality openly discussed his venture into meme coin trading with his followers on X.
Portnoy recently revealed that he had turned a $10,000 investment into a $75,000 profit, sparking excitement around JAILSTOOL. The hype drove the token’s market cap to a peak of over $267 million. In a video posted on X on Sunday, Portnoy described JAILSTOOL as “so stupid, it may be foolproof.” His endorsement was key in securing listings on major exchanges, including Kraken and MEXC.
However, the excitement was short-lived, as JAILSTOOL’s value saw a steep decline, with its market cap plunging to around $34 million at the time of writing, according to CoinMarketCap.
Poloniex continues to expand its listings, encouraging users to participate in its referral program to earn 3% of their friends’ trading fees.
This development reflects the growing trend of crypto exchanges listing highly speculative tokens. Recently, Binance introduced the Official Trump (TRUMP) token and opened trading for TRUMP/USDC and TRUMP/USDT on January 19, 2025, at 08:30 UTC. Deposits for the token started two hours earlier, while withdrawals are scheduled for January 20. To emphasize its high volatility, Binance has implemented a seed tag that requires users to complete a risk-awareness quiz every 90 days. Additionally, within 24 hours of the launch, Binance will activate Trading Bots and Spot Copy Trading. However, regulatory restrictions will prevent users in certain regions, such as the U.S. and Canada, from trading these pairs.
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