Altcoin

These 8 Altcoins May Skyrocket As Binance Expands Support

Published

1 week ago

September 11, 2024

Artificial Superintelligence Alliance Price Chart (FET), Radiant Capital (RDNT), Floki (FLOKI), Aave (AAVE), LayerZero (ZRO), Sun (SUN), Bittensor (TAO), and VIDT Dao (VIDT) are the eight altcoins whose price could skyrocket following Binance’s decision to expand its trading support for them. This move from the largest crypto exchange by market share is expected to draw more attention to these coins, which could ultimately lead to a price surge for them.

Binance Expands Trading Support For These Altcoins

Binance announced in a blog post that it had updated the leverage and margin tiers of FETUSDT, RDNTUSDT, 1000FLOKIUSDT, AAVEUSDT, ZROUSDT, SUNUSDT, TAOUSDT, and VIDTUSDT perpetual contracts. The crypto exchange further highlighted what these updates entailed. Per information shared in the announcement, the updates made to these eight altcoins’ leverage and margin tiers are similar.

Traders can now use up to 75x leverage on FET, RDNT, FLOKI, AAVE, ZRO, and TAO instead of the previous maximum leverage offered for these coins. Before now, traders could use up to 75x leverage on SUN and VIDT, which remained unchanged following Binance’s update. However, an update that applied to all eight altcoins was the increase in the notional value of positions depending on the leverage used. Meanwhile, the maintenance margin rate was updated to 1% for leverage between 51x and 75x.

This update is significant as more liquidity is expected to flow into these top coins, considering that traders can now open larger trades on them. The coins could experience a significant price surge as demand for them increases and more liquidity flows into their ecosystem.

FET Already Enjoying A Price Surge

Artificial Superintelligence Alliance Price Chart (FET) is up over 10% in the last 24 hours. Crypto analyst Phrex mentioned in an X post that the altcoin looks ready to break out above $2. As such, Binance’s decision to increase the altcoin’s trading tier could be the catalyst for the break above $2.

$FET looks ready to break out above $2 pic.twitter.com/96Lzz4Jyyy
— Phrex (@CryptoPhrex) September 10, 2024

RDNT Has $0.1 In Sights With Binance Update

Radiant Capital has risen to as high as $0.08 in the last 24 hours. Considering the recent update from the crypto exchange, the altcoin now has $0.1 in sight. Crypto analysts seem to be confident that this is a price level that RDNT can hit soon enough. One crypto analyst, Popsicle, stated in an X post that the coin looks bullish and expects it to rise to between $0.1 and $0.15 within two weeks.

More Liquidity Flows Into FLOKI

Alongside Binance expanding its trading tiers for FLOKI, the altcoin’s outlook is also bullish thanks to the recent CAT airdrop distributed to FLOKI holders. This has led to a liquidity surge in the meme coin’s ecosystem, which could ultimately lead to a price rally. Per a recent Coingape analysis, the FLOKI Price could also surge thanks to its recent partnership and market resilience.

AAVE’s Price Is Surging Quietly

AAVE’s price is up over 3% in the last 24 hours. However, the bigger picture shows that the decentralized finance (DeFi) token has risen by over 50% in the last month. This is more impressive, considering that the broader crypto market has remained stagnant during this period. Crypto whales have been quietly accumulating the altcoin, contributing to this notable price surge.

ZRO’s Ultra Bullish Prediction As Altcoin Price To Reach $40

Crypto analyst CryptoBullet recently laid an ultra-bullish prediction for ZRO, stating that $40 is a price target that the altcoin could reach by 2025. The crypto analyst highlighted the coin’s bullish fundamentals, noting no token unlocks until July 2025. With only 110 million ZRO tokens in circulation, he is confident that the altcoin can hit the $40 mark.

SUN Is Benefitting From The TRON Hype Alongside Binance Support

The SUN token has been rejuvenated thanks to the hype in the TRON ecosystem. Specifically, there has been an influx of meme coin traders on the TRON network, contributing to an increase in DeFi trading volume and a surge in the demand for the DeFi token. SUN Price also has a bullish outlook following plans to buy back and burn some coins in circulation. With such fundamentals, Binance’s decision to update its trading tier for SUN would only spark more bullish momentum for the altcoin.

TAO Price Could Rise To Current ATH

Crypto analyst Dark Horseman has made a case for why TAO’s price could surge to its all-time high of $767. The crypto analyst argued that the altcoin is one of the “best AI/DePIN projects on the market” and that at its current price of around $200, TAO is “an absolute gift.”

I wouldn’t be surprised if $TAO / $USDT makes a strong run back to its ATH of $767.@opentensor is arguably the best if not, one of the best AI/DePIN project on the market, and prices around $200 are an absolute gift. This could easily be one of the simplest 3X plays this cycle.… pic.twitter.com/jQmQQGpiCt
— Dark Horseman (@Dark__Horseman) September 9, 2024

VIDT Could Enjoy Another Parabolic Rally With Binance Update

VIDT could enjoy another parabolic following the crypto exchange’s update. The altcoin has already surged by over 180% in the last month. This bullish momentum for the coin is largely thanks to its timestamping technology, which has a real-world use case. This technology is known to be used by companies like Airbus and IBM.