VOXEL Price Soars 50% After Binance Lists Perpetual Contract

by

As a seasoned analyst with years of experience navigating the ever-evolving landscape of the cryptocurrency market, I can confidently say that the recent surge in VOXEL‘s token price is not just a fluke but a testament to its growing potential. The strategic moves by Binance and MEXC, coupled with the increasing popularity of the game associated with VOXEL, have certainly put this token on the radar of both retail and institutional investors.

On August 20th, the value of Voxies (VOXEL) tokens significantly increased by more than 50% within a day. This significant spike came immediately after a significant announcement made by Binance, the globally recognized leader in the cryptocurrency exchange market, regarding the token.

As a crypto investor, I’m thrilled about the recent announcement by Binance Futures regarding the listing of the VOXEL perpetual contract, offering up to 50 times leverage. This exciting new trading pair, VOXELUSDT, became available at 10:30 UTC. Moreover, it’s noteworthy that Binance has also listed the Base meme coin, Brett. This move seems to have positively influenced the overall prices of meme coins in the market.

As a researcher studying the financial markets, I’ve observed an intriguing development with VOXEL. The introduction of the new perpetual contract, settled in USDT and featuring a +2.00% / -2.00% funding rate, significantly propelled VOXEL’s price from approximately $0.14 to a peak of $0.26. However, it has seen a slight correction since then, currently trading at around $0.22. This represents a substantial 55% gain compared to earlier in the day.

Over just the last seven days, VOXEL has skyrocketed an astounding 94% and is currently dealing at levels far beyond its May lows of $0.09. This significant price increase occurred concurrently with a notable event: On August 19, the cryptocurrency platform MEXC began listing the VOXEL/USDT trading pair.

The surge in interest around VOXEL, as evidenced by the latest stock market updates and the growing fad of the related game, is demonstrated by its notable growth. Both individual and institutional investors are keeping a close eye on the token as it progresses and aims to broaden its presence within the market.

For folks following the world of cryptocurrencies, it’s become clear that when new products launch or exchanges list them, these events impact the overall market.

Read More

2024-08-21 09:24