As a seasoned researcher with years of experience in the dynamic world of cryptocurrencies, I find myself intrigued by Binance’s recent decision to expand trading support for eight altcoins – FET, RDNT, FLOKI, AAVE, ZRO, SUN, TAO, and VIDT. This move is likely to draw more attention to these coins, potentially leading to a surge in their prices.
The prices of eight alternative cryptocurrencies – Artificial Superintelligence Alliance (FET), Radiant Capital (RDNT), Floki (FLOKI), Aave (AAVE), LayerZero (ZRO), Sun (SUN), Bittensor (TAO), and VIDT Dao (VIDT) – might significantly increase due to Binance‘s decision to extend its trading services for them. This action by the world’s largest cryptocurrency exchange by market share could attract more focus towards these coins, potentially leading to a price escalation for each of them.
Binance Expands Trading Support For These Altcoins
In a recent blog post, Binance revealed that they have adjusted the loan-to-value (LTV) ratios and position margins for FET/USDT, RDNT/USDT, 1000 FLOKI/USDT, AAVE/USDT, ZRO/USDT, SUN/USDT, TAO/USDT, and VIDT/USDT perpetual contracts. The exchange clarified the implications of these modifications. According to the information provided, the changes made to the eight altcoins’ LTV and position margins are consistent.
With this latest update from Binance, traders now have access to up to 75 times leverage when trading FET, RDNT, FLOKI, AAVE, ZRO, TAO, as well as SUN and VIDT. Notably, the maximum leverage for SUN and VIDT remains unchanged from before. However, all eight altcoins have seen an increase in the value of their positions based on the chosen leverage. Additionally, the maintenance margin rate has been adjusted to 1% for leverages between 51x and 75x.
As an analyst, I’m excited to share that this recent update opens up the opportunity for increased liquidity in these leading cryptocurrencies. With larger trade sizes now available, we might see a substantial rise in their prices due to heightened demand and influx of more capital. The ecosystems of these coins could witness a significant boost as they absorb this additional liquidity.
FET Already Enjoying A Price Surge
Artificial Superintelligence Alliance’s (FET) price has surged more than 10% in the past 24 hours. Cryptocurrency expert Phrex suggested in a recent post that this altcoin might soon break its $2 resistance level. If Binance increases the trading volume for FET, it could potentially trigger this breakthrough.
$FET looks ready to break out above $2
— Phrex (@CryptoPhrex) September 10, 2024
RDNT Has $0.1 In Sights With Binance Update
In the past 24 hours, Radiant Capital has climbed up to $0.08. Following a recent announcement from the cryptocurrency exchange, many experts believe that the altcoin could potentially reach $0.1. Analyst Popsicle, in particular, expressed optimism and forecasts that RDNT may rise to between $0.1 and $0.15 within the next fortnight, indicating a bullish trend for the coin.
More Liquidity Flows Into FLOKI
In addition to Binance broadening the trading levels for FLOKI, the cryptocurrency’s forecast is likewise optimistic due to the recent distribution of CAT airdrop to FLOKI investors. This has resulted in an increase in liquidity within the meme coin’s marketplace, potentially leading to a price spike. According to a recent Coingape assessment, the price of FLOKI might also rise as a result of its recent partnership and market strength.
AAVE’s Price Is Surging Quietly
In the past day, AAVE‘s value has increased by about 3%. Yet, when looking at the larger timeframe of a month, it’s clear that AAVE, a decentralized finance (DeFi) token, has seen a significant jump of over 50%. This is particularly noteworthy as the overall crypto market has shown little movement during this period. It seems that ‘crypto whales’ have been stealthily amassing AAVE, which could be a factor in this substantial price rise.
ZRO’s Ultra Bullish Prediction As Altcoin Price To Reach $40
Crypto expert CryptoBullet has given an extremely optimistic forecast for the cryptocurrency ZRO, suggesting it could reach a price of $40 by the year 2025. He emphasizes the coin’s positive underlying factors, pointing out that there are no token releases until July 2025. Given that there are only 110 million ZRO tokens currently in circulation, he is optimistic that this target price can be achieved.
SUN Is Benefitting From The TRON Hype Alongside Binance Support
The SUN token has experienced a revitalization due to the excitement within the TRON community. More precisely, there’s been an uptick in meme coin traders using the TRON network, leading to higher volumes in DeFi trading and a spike in the desire for the DeFi token. Additionally, the SUN Price is showing a positive trend as plans are in place to buyback and burn some coins from circulation. This bullish outlook has prompted Binance to upgrade its trading tier for SUN, which could further fuel optimism for this altcoin.
TAO Price Could Rise To Current ATH
Cryptocurrency expert Dark Horseman has presented reasons supporting a potential rise in TAO‘s price to its record peak of $767. According to his analysis, TAO stands out as one of the top AI/DeFI projects currently available, and at its current value of approximately $200, he considers it an exceptional opportunity.
It’s quite possible that the TAO token, compared to USD Tether, could experience a significant rally and potentially reach its all-time high (ATH) of $767 again. Given that OpenTensor is considered one of the top AI/DeFi projects in the market, current prices around $200 are seen as an exceptional opportunity for a potential 3X return during this cycle.
— Dark Horseman (@Dark__Horseman) September 9, 2024
VIDT Could Enjoy Another Parabolic Rally With Binance Update
It’s possible that VIDT could experience another surge similar to a parabolic one after the crypto exchange’s recent update. In just the past month, this altcoin has skyrocketed more than 180%. The coin’s upward trend is primarily due to its innovative timestamping technology, which has practical applications in the real world. This technology is well-known for being utilized by companies like Airbus and IBM.
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2024-09-10 21:44