Binance has decided to support the rebranding and token swap of Frontier (FRONT) tokens as Self Chain (SLF).
Frontier (FRONT) Token Swap and Rebranding: A New Era Powered by Binance
Binance announced that it will support the rebranding and swapping of Frontier tokens as Self Chain (SLF). Following these changes, the price of the Frontier token increased by 20%.
Binance experienced great uncertainty in November 2023 when CZ was found guilty and the exchange was fined. However, a rapid recovery process began after the new CEO announced that he would align company policies with institutions. The exchange also announced that it had more cryptocurrencies than investors held by providing proof of reserves in recent weeks. Binance, which accelerated the listing and delisting processes, also supports the restructuring of altcoin projects.
Binance Announcement and Frontier (FRONT) Price Action
Binance will delist all FRONT spot trading pairs (FRONT/BTC, FRONT/TRY, FRONT/USDC, and FRONT/USDT) and cancel all pending FRONT orders starting at 03:00 UTC on August 27, 2024. Trading for SLF will begin on SLF/BTC, SLF/TRY, SLF/USDC, and SLF/USDT trading pairs starting at 08:00 UTC on August 30, 2024.
Following the announcement, the price of the FRONT token experienced a rapid increase. The price quickly rose from $0.64 to $0.76, showing a 20% increase. This increase also increased the market and trading volume. FRONT’s market volume exceeded $68 million, rising to rank 455. Trading volume increased by 187%, exceeding $31.9 million. The RSI value is almost 100, indicating an overbought level. Currently, the price is still in the overbought zone, remaining at 75.44, despite a slight pullback. $ft
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I EXPLAIN IN DETAILED.
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