Altcoin
WHY & CHEEMS Under Investors’ Radars As Binance Expands Support, What’s Next?
Crypto tokens WHY and CHEEMS garnered significant investor interest on Monday as digital asset exchange behemoth Binance issued a vital update on them. Notably, the crypto exchange revealed that it is launching USD-margined perpetual contracts for these assets, generating market optimism surrounding the coins’ future price action. However, with the coins trading in the red at the time of reporting, current investor sentiments remain uncertain despite the optimistic announcement.
Binance Unveils New Offerings For WHY & CHEEMS Sparking Discussions
Binance revealed in an official announcement on November 25 that it is launching perpetual contracts for WHY and CHEEMS on the same day. As per the announcement, the crypto exchange is launching 1000WHYUSDT perpetual contract today at 11:30 UTC. The platform’s colossal user base remains primed to enjoy up to a maximum of 75x leverage trading the asset.
Simultaneously, the announcement revealed that the exchange is launching 1000CHEEMSUSDT perpetual contract on the same date at 11:45 UTC. Users on the platform can enjoy a maximum of 75x leverage trading the asset. Further, the leading crypto exchange revealed that it would support ‘Multi-Assets Mode’ for the abovementioned assets, offering risk-reduction opportunities with better liquidation management for users. Overall, the announcement appears to have set off optimistic waves for the tokens’ future price actions, paving the way for increased money inflow with investor interaction.
How Are The Coins Performing?
Despite the optimistic futures listing announcement, the cryptos defied usual market sentiments and plunged into the red territory. WHY price tanked nearly 11% intraday and is sitting at $0.0000002554. The coin’s 24-hour low and high were $0.0000002337 and $0.0000003843, respectively.
Similarly, CHEEMS price crashed 30% intraday despite the listing to trade at $0.0000007016. Its 24-hour low and peak were $0.0000006198 and $0.000001534, respectively. Notably, these slumping actions have raised uncertain investor sentiments about the future price of the coins despite the perpetual contract launch.
Besides, it’s noteworthy that similar past chronicles were reported to have a bullish impact on tokens, adding a layer of intrigue to the matter. Solana meme coin SLERF noted a 55% uptick in its value with Binance’s futures listing.
Simultaneously, even HIPPO price soared remarkably with its futures listing on the same exchange. In light of these uncertain movements, crypto market watchers continue to monitor the tokens, being shrouded in an enigma over future movements.
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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