The leading crypto exchange, Binance has shared major backing for Broccoli and five other cryptocurrencies. Following the announcement, the cryptocurrencies recorded a massive surge, once again proving the massive influence of these major crypto exchanges in the market.
Binance Reveals Backing For Broccoli & Other Crypto
In the latest official announcement, the crypto exchange introduced multiple USD-margined perpetual contracts to its futures platform. These contracts allow traders to access higher leverage, enhancing liquidity and trading opportunities.
The newly listed cryptocurrencies include:
- TUTUSDT – Available from March 20, 09:00 UTC, with up to 25x leverage.
- BIDUSDT – Trading starts on March 20, 09:15 UTC, with 25x leverage.
- BROCCOLI714USDT – Available from March 21, 09:00 UTC.
- BROCCOLIF3BUSDT – Listed on March 21, 09:15 UTC.
- SIRENUSDT – Trading opens on March 22, 09:00 UTC.
- BANANAS31USDT – Goes live on March 22, 09:15 UTC.
The crypto exchange stated that these contracts aim to expand trading options and improve the user experience. The top crypto exchange emphasized that the tokens are already listed on its Alpha Market, which provides early access to promising crypto projects.
Binance Backing & Its Market Impact
The announcement triggered strong bullish momentum across the listed tokens. As Binance’s influence on market sentiment remains strong, its listings often act as a catalyst for price movements. Market pundits believe the introduction of these futures contracts could lead to increased adoption and liquidity for the selected tokens.
However, traders should remain cautious, as high leverage also amplifies risks. Despite that, it is often seen that the expanded offerings or backings from the leading crypto exchanges usually tend to impact the prices of the tokens. Recently, the exchange has extended backing for StraitsX (XUSD), which have also gained notable traction from the market participants.
How These Cryptocurrencies Are Performing After Binance Announcement?
The cryptocurrencies have recorded significant gains following the announcements, indicating the growing investors’ focus on the token.
Tutorial Price
The Tutorial (TUT) price was up nearly 100% and exchanged hands at $0.047, while its trading volume skyrocketed 245% to $137 million. Notably, with its recent gains, the crypto has recorded weekly gains of about 5000%.
CreatorBid (BID) Price
BID’s price jumped more than 215% to $0.9034, while its trading volume rocketed 188% to $6.25 million. The crypto has recorded a weekly surge of 237% while witnessing a surge of 8% with its recent surge following the Binance announcement.
Broccoli Price
CZ’s Dog (broccoli.gg) price jumped about 67% to $0.5176 and its trading volume rose 382% to $138 million in the last 24-hour timeframe. The crypto has touched a 24-hour high of $0.07596 in the last 24 hours following the announcement, while its one-day low was recorded at $0.0303.
On the other hand, Broccoli (firstbroccoli.com) price jumped 66% to $0.0216 after touching a 24-hour high of $0.1389. The crypto has recorded a 24-hour volume surge of 330% to $21.65 million.
Siren & Banana Price
Siren Price jumped about 32% following the announcement to $0.065. On the other hand, Banana for Scale added 75% to $0.004391, with its trading volume soaring 50% to $21.22 million.
These recent price jumps further highlight the robust influence of these leading exchanges on the crypto market. Having said that, the expanded offerings could attract more investors, which in turn could trigger a strong rally for the assets in the coming days.
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