As a seasoned analyst with years of experience in the dynamic world of cryptocurrencies, I find myself consistently amazed by the rapid pace at which this sector evolves. The recent listings of FIDA and MEW on Binance and Upbit, respectively, are no exception. These events have not only sparked a flurry of activity but also served as a testament to the growing acceptance and adoption of Solana-based tokens.
On Thursday, both FIDA and MEW, two cryptocurrencies built on the Solana blockchain, experienced increased favorable opinions. Specifically, FIDA, also known as Solana Name Service, was listed on Binance, while MEW (a term that could be interpreted as ‘cat in a dogs world’) found its way onto Upbit. This pair of listings has generated considerable international interest, with their respective prices surging by approximately 25% to 30% following the announcements.
Solana Tokens FIDA & MEW Secure Vital Listings On Binance & Upbit
Based on the announcements made by the specified exchanges on September 19th, both tokens will experience listings today. Binance has announced they will launch a USD-Margined perpetual contract for FIDA at 12:30 UTC today. Meanwhile, Upbit has disclosed that they have listed MEW with BTC and USDT pairs on the same day.
It’s worth noting that Binance announced the addition of FIDA with a maximum leverage of 75 times for its users. Moreover, Binance configured the maximum funding rate for this pair to be between +2.00% and -2.00%.
At the same time, Upbit Korea has introduced “cat in a dog’s world” as a new listing on both BTC and USDT markets. Starting today, this exchange based in Asia will also provide trading support for these transactions.
1) Market enthusiasm about Solana coin listings has mainly been fueled, suggesting potential positive shifts in the future, which could lead to increased investments flowing into these tokens.
Tokens’ Prices Rocket Over 25%
At the same time, FIDA‘s price soared almost 45% in response to Binance’s announcement of listing it. Today, the coin is valued at approximately $0.3243, with its lowest and highest points for the day being $0.2204 and $0.3297 respectively.
In a similar fashion, the price of MEW experienced a significant increase of approximately 26% to reach $0.00533, primarily due to its listing on Upbit. The lowest and highest points in the last 24 hours were at $0.00407 and $0.005728 respectively.
In the meantime, it appears that today’s price increases largely correspond to the tokens being listed, a pattern we’ve noticed before. For instance, Kadena (KDA) experienced a significant jump of approximately 30%, according to CoinGape Media, upon its future listing on Binance.
As an analyst, I’ve noticed a significant surge in the prices of both PEPE and BRETT following their listings on Upbit. It appears that these listings played a substantial role in driving today’s impressive price increases.
At the same time, data from Coinglass showed a significant increase in MEW‘s futures Open Interest (OI), reaching $76.31 million – a jump of 82%. Moreover, the volume for its derivatives soared an impressive 531% to $735.63 million today, indicating growing optimism for this Solana-based token. It’s also worth mentioning that the price of Solana (SOL) rose by 8%, trading at $140 today.
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2024-09-19 16:54