As an experienced crypto investor, I’ve seen my fair share of market fluctuations and listings. The recent announcement that Binance is listing Thena [THE] has sent shockwaves through the cryptosphere, with the token surging by a staggering 543.10% in just 24 hours!
In the last 24 hours, there’s been a significant surge in interest for Thena (THE) due to Binance’s recent announcement. Specifically, Binance shared plans to include THE token in their listing. This development has ignited considerable enthusiasm among traders, who are looking forward to enhanced liquidity and broader market involvement.
As per Binance, they will initiate trading for various cryptocurrency pairings such as THE paired with BTC, BNB, and USDT, starting from the 27th of November at 10:00 (UTC). Listing of THE on their platform is scheduled to occur on this date, followed by the opening of trades for these specific pairings.
Reaching this listing marks a major step forward for the altcoin, as it increases its chances for broader use and increased trading activity, both crucial factors in its expansion.
Impact on THE’s price charts?
Just as anticipated, the recent listing significantly affected THE’s price trends. To be precise, after the listing, THE experienced an astonishing increase of 543.10%, and it was being traded at $1.35, as of the latest update.
Moreover, the value of this altcoin’s market capitalization has skyrocketed by an impressive 954.58%, reaching $103.68 million in just a day. This significant increase has also triggered a massive spike in its trading volume, soaring by an astounding 36674.80% to a record-breaking $56.19 million, all thanks to the recent listing.
After reaching an all-time low of $0.20, THE coin has experienced a significant rise, peaking at $1.5. This dramatic increase can be attributed to heightened investor interest, with numerous buyers investing in the altcoin.
Based on the token terminal’s report, the total number of users holding this altcoin has significantly grown to approximately 20,030, indicating a rise in interest and usage.
Furthermore, the rising purchasing activity is evident due to the escalating buying pressure. The Relative Strength Index (RSI) of THE has soared to an unprecedented level of 96.31, implying that the momentum is firmly with the buyers.
The strength of its position has fueled a robust upward trend for this altcoin, as indicated by its soaring Daily Momentum Indicator (DMI) reaching 64.15.
As an analyst, I’ve noticed that Thena is currently experiencing a surge in positive investor sentiment based on Market Prophit data. To be more specific, the crowd sentiment stands at 0.213, accompanied by a Buzz score of 0.9419. This suggests that investors are overwhelmingly optimistic and expect the prices to climb following the listing, indicating a bullish market trend.
Essentially, getting listed on Binance means that Thena will experience increased liquidity because it draws in additional investors, which in turn can lead to a rise in its prices.
Given the rising listings and heightened demand, THE might see further increases in its price. Consequently, with this renewed enthusiasm, it may strive to break through the $1.6 resistance level.
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2024-11-27 11:51