GOAT Price Extends Weekly Gains To 200% On Binance Futures Listing, Is $1 Next?

by

As a seasoned researcher with over a decade of experience in the dynamic world of cryptocurrencies, I must admit that the recent listing of Goatseus Maximus (GOAT) on Binance has piqued my interest. Having witnessed numerous listings and their subsequent impacts on various tokens, I can say that this development is noteworthy.

In simple terms, the digital currency Goatseus Maximus (GOAT) has attracted significant investor interest once more due to its recent listing on Thursday. This event led Binance to introduce a perpetual contract for the token supported by Truth_Terminal. As a result, the price of GOAT surged, extending its weekly growth by more than 200%. Furthermore, following the announcement of this listing, GOAT experienced an intraday increase of approximately 20%.

Cryptocurrency fans are discussing if the newly released digital currency can maintain an upward price trend towards $1, given that it has been listed on one of the major cryptocurrency trading platforms for future contracts.

GOAT Bags Binance Futures Listing Reverberating Market Optimism

Based on a Binance announcement from October 24, their futures trading division is introducing a GOATUSDT USD-Margined perpetual contract today at 13:30 UTC. Users on this platform can potentially benefit from up to 75 times the leverage when dealing with this asset. This action by the cryptocurrency trading platform aims mainly to broaden the range of trading options available to its users.

The base asset for this continuous contract is Goatseus Maximus, a token backed by Truth-Terminal. The unit size for trading this asset is 0.0001 as stated in the listing announcement. Moreover, the funding rate for this contract has been capped at +2.00% and -2.00% by the exchange. Additionally, the announcement emphasized that changes to the contract may occur depending on market risk factors in the future.

Despite initial reservations, it seems that the listing has sparked a surge of bullish sentiment in the cryptocurrency market as indicated by recent market data. Interestingly, Crypto.com, one of the top crypto exchanges, had previously listed Goatseus Maximus, which generates enthusiasm about its potential future growth.

GOAT Price Soars 20%

In summary, the token has been experiencing a bullish trend following its listing on prominent cryptocurrency exchanges. At the moment of writing, the price of GOAT has climbed approximately 20% in the last day and is at $0.7947. Over the past week, the token’s value has increased more than 200%, according to CoinMarketCap statistics. The coin’s lowest and highest prices within the day were recorded as $0.5992 and $0.8821 respectively. Traders have responded positively to the listing announcement, leading to a significant increase in the token’s daily trading volume, which reached $437.28 million – an uptick of 57%.

Today, the trading volume of Goatseus Maximus futures increased by a substantial 201.87%, reaching $29.02 million. Additionally, the derivatives volume for this token skyrocketed an impressive 808% to $239.53 million. This data suggests that the token, supported by Truth_Terminal, is experiencing a significant upward trend at present.

At the same time, listings by Binance and their effects on a token’s price create more excitement about the coin’s future price fluctuations. For instance, the price of Simon’s Cat has risen by over 60% since October 21 due to its futures listing on the exchange. This trend increases optimism about potential price increases for GOAT, with a possible target of $1 not too distant. Furthermore, it’s worth mentioning that BitMEX founder Arthur Hayes expects the token to increase tenfold, further fueling optimism about future movements.

Read More

2024-10-24 16:54