As the cryptocurrency market shows signs of a bullish trend, Binance, the world's largest cryptocurrency exchange, announced the listing of futures for two altcoins. With Bitcoin surpassing $105,000 and major altcoins following suit, this move by Binance is expected to attract the attention of traders.
Binance Futures Expands with VINE and PIPPIN Listings
In a recent announcement, Binance revealed the addition of two new perpetual contracts: VINE/USDT and PIPPIN/USDT, both offering leverage of up to 25x. The launch times for these contracts are as follows:
Perpetual contract VINE/USDT: January 24, 2025, at 10:00 AM UTC.
Perpetual contract PIPPIN/USDT: January 24, 2025, at 10:15 AM UTC.
This expansion is part of Binance's ongoing efforts to enhance trading services and provide users with a more diverse range of options. In its official statement, Binance emphasizes its commitment to improving the trading experience for all users.
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Market Reaction to the Listings of VINE and PIPPIN
This announcement has significantly impacted the price and trading volume of VINE. Following this news, the price of VINE surged from $0.1377 to $0.2847 within a few hours, marking an impressive daily increase of over 412%.
Despite some pullbacks, the token continues to trade at high levels, with the current price at $0.2312. The trading volume of VINE has also skyrocketed, witnessing a strong increase of 406%, reflecting heightened interest from traders.
On the other hand, PIPPIN has struggled to gain momentum. Although this token shows a slight recovery, it remains in negative territory, trading at a daily loss of over 9%. The trading volume of PIPPIN has also decreased by about 23%, signaling a significant lack of investor interest compared to VINE.
Bullish Sentiment in Cryptocurrency Market
Positive market sentiment is further bolstered by regulatory developments, including the SEC's repeal of SAB 121, which was viewed as a barrier to the cryptocurrency industry. The improving outlook, combined with Binance's strategic listings, highlights the growing optimism in this sector.
Conclusion
As Binance continues to innovate and expand its services, the listing of perpetual contracts for VINE and PIPPIN highlights the exchange's role in shaping market trends. While VINE has garnered significant attention with its price increase, PIPPIN's performance remains modest. Investors and traders will be closely monitoring how these tokens perform in the volatile futures market.
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