Major Developments in the Cryptocurrency Market
The cryptocurrency market has experienced remarkable rallies this week, with Bitcoin, the leading cryptocurrency, consistently breaking records. In addition, the altcoin market has seen significant price surges, capturing the attention of investors. In light of these developments, Binance, the world’s largest cryptocurrency exchange, has announced the addition of three altcoins to its futures trading platform. These altcoins have garnered interest due to their impressive price movements over the past week.
Binance Expands Futures List with GRASS, DRIFT, and SWELL
According to Btcpiyasasi.com, cryptocurrency exchanges are continuously updating their offerings, and Binance is no exception. The exchange announced that it has listed GRASS, DRIFT, and SWELL on its futures market, allowing for trading with leverage of up to 75 times. This move is part of Binance’s ongoing commitment to enhance trading options and improve the overall user experience. The exchange released the following statement:
- GRASSUSDT Continuous Contract
- DRIFTUSDT Perpetual Contract
- SWELLUSDT Perpetual Contract
Source: Binance
Price Performance of Newly Listed Altcoins
GRASS, which was recently added to the Binance futures list, demonstrated impressive performance last week. The price of this altcoin surged by approximately 76% on a weekly basis. Following its listing on Binance, the token reached a peak but has since started to decline. At the time of writing, GRASS is trading at $2.93, reflecting a drop of over 19% in just one day, suggesting that investors may be taking profits.
GRASS Weekly Price Chart: Source: CoinMarketCap
Similarly, DRIFT has also shown remarkable performance in both the daily and weekly metrics. The price of DRIFT skyrocketed nearly 219% over the past week. Following the Binance listing, the token reached new heights before adjusting downward. Currently, DRIFT is trading at $1.53, with an impressive daily increase of over 89%. Notably, the trading volume for this token surged by an extraordinary 689%, highlighting significant interest from investors and traders alike.
DRIFT Weekly Price Chart: Source: CoinMarketCap
SWELL, another altcoin listed by Binance, has also made waves in the market. Over the past week, the price of SWELL increased by approximately 125%. The upward momentum continued after its listing on Binance, and at the time of writing, SWELL is trading at $0.066, reflecting a daily increase of over 48%. The trading volume for SWELL has also seen a remarkable rise of 56%, indicating strong interest from market participants.
SWELL Weekly Price Chart: Source: CoinMarketCap
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