NEW DELHI (CoinChapter.com) — Binance announced the listing of the native token of Arbitrum-based layer 3 blockchain games XAI after its operating period ended on January 8.
After the farming period, Binance listed the XAI token on January 9. Trading pairs available for XAI include XAI/BTC, XAI/USDT, XAI/BNB, XAI/FDUSD, XAI/TUSD and XAI/TRY.
XAI has warned users against scammers.
The announcement stated that trading of the XAI token on Binance would begin at 10:00 a.m. (UTC) on the listing day. Additionally, airdrop claiming will begin 30 minutes before listing at 09:30 (UTC).
Users in several countries, including the United States, Canada, and Japan, could not operate XAI due to legal and regulatory reasons. The listing also had a positive impact on BNB prices, with the token reaching a daily high of $308 on January 9.
XAI List on Binance Buoys XAI Price
Listing news on major exchanges is often a bullish signal for crypto tokens, and XAI is no exception. Binance listing XAI Games saw the token's price rise nearly 5,900% to a high near $1.2.
However, bearish pressure against the token remains, evident from the long upper wick. It appears traders are taking profits, which could see the token airdrop become a bearish headwind for XAI prices.
XAIUSDT daily price chart with RSI.
If profit-taking continues, XAI could experience further price decline. However, it is likely that some investors would hold the XAI token before selling it, likely waiting for a higher price. Additionally, listings on other exchanges could help support the token’s price.
At present, it appears that the recipients of the airdrops are making a profit.
What is XAI?
XAI is the first layer 3 blockchain built on the L2 Arbitrum platform.
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