Altcoin
Aavegotchi (GHST) Price Blows Up Over 37% On This Binance Announcement
Blockchain-based game and DeFi protocol Aavegotchi (GHST) nabbed significant investor attention on Monday as its price rocketed nearly 37%. Notably, with the crypto exchange behemoth Binance extending support to the token, market sentiments for the Web3 gaming and Defi protocol have turned highly bullish. Recently, the exchange announced the launch of futures listing for GHST, following which the token’s price surged remarkably.
Binance Launches Aavegotchi (GHST) USD-Margined Perpetual Contract
On September 23, Binance officially announced the launch of the Aavegotchi (GHST) USD-Margined perpetual contract (GHSTUSDT) in a release. As per the announcement, the perpetual contract will go live today at 13 UTC. Users on the platform can enjoy up to 75x leverage trading the coin. Meanwhile, the underlying asset for the contract remains Aavegotchi.
The capped funding rate set by the exchange was at +2.00% / -2.00%. However, the exchange also clarified that the contract remains subject to changes based on market risk conditions. Users may see changes in the funding fee, tick size, maximum leverage, initial margin, and maintenance margin ahead. Nevertheless, the announcement has set off waves for the gaming and Defi protocol as its price soared roughly 37% in light of the Binance listing.
Aavegotchi boasts itself as a project that has adorable ghosts on the Ethereum blockchain, each with a unique set of traits. The ghosts also contain crypto tokens, represented by collateral symbols on their heads.
Token Price Shoots Up 37%
Simultaneously, GHST price surged approximately 37% in the past 24 hours to reach $1.201. The coin’s intraday low and high were recorded as $0.8713 and $1.21, respectively. Traders appear to have reacted positively to the listing announcement as the coin’s intraday trading volume surged by a staggering 1103% to $17,757,512.
It’s worth noting that today’s price upswing primarily falls in line with the abovementioned futures listing, as also seen with other tokens previously. CoinGape Media earlier reported that TON-based Catizen (CATI) price shot up over 30% upon listing on the same CEX.
Similarly, even the price of the Solana coin FIDA experienced significant gains with its futures listing on the exchange. Altogether, these past chronicles rationalize Aavegotchi (GHST) price upswing today. Crypto market enthusiasts continue to monitor the coin for further price action shifts.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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