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Berachain (BERA) Price Rockets 630% Amid Major Binance Support, What’s Next?
Crypto exchange giant Binance set off bullish waves surrounding Berachain (BERA) price on Friday, revealing a vital update on the token. Notably, the cryptocurrency exchange is expanding market support with new trade offerings for the recently launched asset, fueling investor optimism amid an ongoing 630% price rally. Now, market participants anticipate further gains in the asset despite the broader sector’s volatility, primarily as the enhanced support paves the way for heightened market exposure ahead.
Berachain Price Bullish Amid Binance’s Support
Usual market sentiments convey immense optimism in light of listings on top crypto exchanges, as it paves the way for massive money inflow into the assets, given the platform’s colossal user base.
In light of this, traders remain bullish as a recent Binance announcement revealed that Berachain will be integrated into the platform’s Simple Earn, Buy Crypto, Convert, Margin, Auto-Invest, and Futures trading divisions. The enhanced trade offerings are set to magnetize a colossal number of market participants who are looking to book profits with new emerging assets. In other words, these extended offerings are likely to boost the Berachain price further ahead.
Flexible products for the same were listed on Simple Earn at 13:00 UTC on February 6. Starting February 7 at 10:00 UTC, users can purchase the token using any of the payment options supported on Auto-Invest.
Further, the announcement revealed that the users may utilize VISA, MasterCard, Google Pay, Apple Pay, and Revolut to buy the token. Whereas, they can also buy and sell it with their account balances on the “Buy Crypto” page within one hour of spot listing.
Also, users can start trading the new coin against BTC, USDT, and other tokens on Convert within one hour of spot listing. Trading for new borrowable assets for the same on Cross and Isolated Margin is to commence at 16:00 UTC on February 6.
Notably, a USD-margined perpetual contract for Bearchain was also launched, per the announcement, offering users 75x leverage while futures trading. Altogether, the stockpile of enhanced offerings has paved a highly bullish path over BERA price’s future movements, attributable to burgeoning market exposure.
Crypto Traders’ Strategies Spark Speculations
Meanwhile, crypto whales’ recent trade maneuvers surrounding the coin raised eyebrows across the market. Soon after Berachain’s listing, a whale made a remarkable $589K profit by shorting it. Lookonchain’s data revealed that a trader deposited 1.6 million USDC to Hyperliquid, shorting the newly launched token at $13. Thereby, the trader closed this position, withdrawing 2.19 million USDC and making the previously mentioned profit.
Since the start of February 7, the Berachain price has lost nearly 16% as of press time. While the short position itself underscored short-term volatility, its close hints that further downside momentum does not lie ahead.
Simultaneously, another post by the transaction tracker revealed that a whale recently went long on the same asset. This whale deposited 2..5 million USDC into Hyperliquid to go long on BERA’s price. As a result of these transactions, market participants mainly remain optimistic about the price ahead, with sentiments further uplifted due to the Binance listing. CoinGape previously reported that BERA token listing & airdrop promptly gained significant traction across the broader market, echoing a buzz for the new cryptocurrency.
BERA Price Skyshots 630%
At the time of reporting, BERA price witnessed a 630% since its launch yesterday, exchanging hands at $7.705. The coin’s intraday low and high were $1.00 and $14.99, respectively.
Notably, the coin’s rising action aligns with its recent listings and Binance’s support, which uplifts market sentiment. Traders also reacted highly positively to the listings and the new token’s launch, as indicated by a staggering 165895.91% surge in the intraday trading volume to $2.86 billion. Crypto traders and investors continue to eagerly eye the token as it defies the recent broader market trend, showcasing the potential for further gains.
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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