This Cryptocurrency Rises 30% After Its Official Binance Listing
TL;DR
- The new listing of binance has positively affected the price of the cryptocurrency in question.
- This development parallels a broader market revival highlighted by major cryptocurrencies such as Bitcoin (BTC) reaching record highs.
Binance continues to make changes to its platform to improve user experience and respond to the latest market trends.
The company recently listed Metis (METIS). New spot trading pairs include METIS/BTC, METIS/USDT, METIS/FDUSD and METIS/TRY.
While users can start depositing money, withdrawals will also be possible from March 12. METIS listing fee is set at 0 BNB. Despite the announced support, the exchange warned users to deal with the token only after conducting their own research “to prevent any fraud and ensure the security of their funds.”
An official listing on a leading cryptocurrency exchange such as Binance can increase the visibility of the relevant digital asset, increase its liquidity and provide easy access to investors. These factors could trigger price increases due to potential increased demand.
According to data from CoinGecko, the price of METIS increased by almost 30% minutes after Binance’s announcement, exceeding the $140 barrier for the first time in nearly two years. Its market capitalization rose to an all-time high of over $730 million.
METIS Price, Source: CoinGecko
It is worth noting that the price rise coincides with a broader resurgence of the cryptocurrency market. Bitcoin a few hours ago Exploded As it surged to an all-time high above $71,000, Ethereum briefly surpassed $4,000.
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