Altcoin Price Soars 90% After Listing on Binance Futures Platform

In a cryptocurrency market that never sleeps, Binance, one of the world’s leading exchanges, has just made a significant move. Last Tuesday, Binance announced the listing of a new altcoin on its futures platform. And it’s not just any altcoin. We’re talking about BarnBridge (BOND), which has had a remarkable performance recently.

The news was received with enthusiasm by enthusiasts and investors in the crypto community. With the decision, BOND will have the ability to be traded with leverage of up to 50x on the platform. And, as expected, the repercussion of this news was almost immediate on the price charts.

The price of BOND left the US$1.60 zone on Friday the 13th, to a high today close to US$6.75.

On the day of the announcement, the price of BarnBridge didn’t just go up – it soared! Showing an impressive 95% increase in the last 24 hours, BOND is now trading at a value of US$5.81 million. This astronomical growth in value highlights the potential and confidence that the market has in the token.

Taking a step back to understand this dizzying growth, it is important to highlight that BOND is not a complete newcomer to the market. With a market value of US$45 million, it is already listed on several cryptocurrency exchanges, with Binance among them. However, Coinbase, one of the largest exchange platforms, has not yet made its move in this regard.

One of the likely reasons for this impressive rise in the price of BOND was the recent decision of the token’s decentralized platform. They chose to settle with the SEC (Securities and Exchange Commission), paying all necessary penalties. News of the deal triggered a wave of optimism, leading to a sudden jump in the price.

At the time of publication, the price of BOND was quoted at US$6.33, up 46.0% in the last 24 hours and for the week with an increase of 222.4%.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.