Altcoin
Binance Reveals Major Backing For These 5 Crypto, Prices To Rally?
The latest update from cryptocurrency exchange Binance nabbed substantial investor attention globally. An update from the platform on Wednesday revealed that users are poised to witness five new spot listings shortly ahead. A stockpile of other new trade services for the same will follow. In turn, market participants weigh considerable optimism on the assets’ future price movements amid enhanced market support.
Binance Reveals Spot Listings For 5 New Crypto Pairs
In an official release dated March 12, Binance revealed that it will open trading for the following pairs starting March 13 at 08:00 UTC.
- CVC/USDC
- EURI/USDC
- SYN/USDC
- USDC/RON
- VELODROME/USDC
What’s More?
Further, the top crypto exchange will also commence trading bot services for the abovementioned pairs on the same date and time. In particular, users are to enjoy ‘Spot Algo Orders’ services on these pairs.
As a response, market participants anticipate rising trading volumes in these assets amid enhanced market offerings that attract investors. This saga could potentially bolster price actions despite the recent broader market turmoil.
Why Did Binance Reveal These Listings?
Notably, the exchange’s announcement added that this decision is to expand the list of trading choices offered to users. With this, the crypto exchange behemoth continues to cement its global ranking, offering users top-notch trading opportunities.
However, the announcement also revealed that users in the following regions cannot trade these pairs:
- Canada
- Cuba
- Crimea Region
- Iran
- Netherlands
- North Korea
- Syria
- United States of America and its territories (American Samoa, Guam, Puerto Rico, the Northern Mariana Islands, the U.S. Virgin Islands)
- Any non-government-controlled areas of Ukraine.
“RON is fiat currency and does not represent any other digital currencies,” Binance added.
Can These Crypto Rally?
For context, usual market sentiments about prices remain highly positive amid new spot listings on crypto exchange giants. Primarily due to the platform’s colossal user base, market watchers anticipate a huge money influx in tokens in light of the enhanced trade offerings.
However, it’s also worth taking into account the broader crypto market turmoil with investors’ cautious approach. Notably, the crypto sector faces immense pressure amid rising U.S. recession fears and Trump’s tariff chronicles. Nevertheless, traders and investors continue to eye Binance’s updates, expecting gains in the wake of rising market exposure.
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.
Solana price could take a major hit after an Alameda address unstaked $23 million SOL in what appears to be an indicator for a potential selloff. On the technicals, Solana is inching toward a death cross for the third time in its history.
Alameda Unstakes 177,000 SOL Amid Distribution Spree
According to an Arkham post, an Alameda Research-associated address has unstaked $23 million SOL, distributing the funds to several addresses. On-chain data indicates that the Alameda staking address received $22.9 million SOL following a staking address unlock.
Upon receipt of the tokens, the funds were distributed to 37 addresses associated with FTX and Alameda. Cumulatively, the 37 recipient addresses hold $178.82 million SOL, sparking fears of a selloff.
Typically, unstaking large amounts of SOL triggers selling pressure for Solana price. In the event of a sale, excess SOL floods the market and if demands fall to match supply, prices take a massive hit.
A move to exchanges will confirm speculation of a selloff with similar moves historically triggering corrections for Solana price.
At the start of March, Solana whales unstaked nearly $1 billion SOL as prices tumbled to multiple-month lows.
Solana Price Marches Toward Death Cross
Onchain indicators say Solana is approaching a death cross for the third time in its history. The death cross is a bearish signal, occurring when the 50-day moving average crosses below the 200-day moving average.
Achieving a death cross could send Solana price to new lows with previous occurrences proving extremely bearish. The first death cross in 2022 saw prices fall by over 90%, exacerbated by FTX’s implosion.
The second death cross in 2022 saw prices take a nose dive before staging a recovery during the “Trump pump.” Experts say projections for SOL to reach $200 are unlikely as it trades at a six-month low.
At the moment, Solana price is trading at $126.53 down by nearly 15% over the last week. For now, traders are proceeding with caution with the biggest indicator being a steep drop in daily trading volume. Over the last 24 hours, trading volume has fallen by 22.71% to settle at $4.1 billion.
Despite the grim numbers, experts say Solana will outperform Ethereum, citing the network’s impressive functionalities.
Aliyu Pokima
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.
PI Network Coin has gained strong momentum, breaking past key resistance levels as the broader market sustains its bullish consolidation. Notably, with the March 14 Know Your Customer and Mainnet migration deadline approaching, many investors are watching to see if PI Network can keep this momentum.
The PI Network Price Breakout
PI Network has crossed the $1.7 price level, which is designated as a critical resistance point. This breakout has drawn attention from traders and investors who see it as a signal for a potential rally.
According to CoinMarketCap, Pi Coin’s price is $1.719, up 20.67% in the last 24 hours. Additionally, the PI Coin trading volume increased by over 120%, reaching $842.34 million. This comes as it traded from a low of $1.403 to a high of $1.738.
Per social chatter, many traders attribute this recent surge to growing confidence in the cryptocurrency as its migration deadline nears.
Over the past week, PI Network has posted more than a 53% price gain, making it one of the best-performing digital assets in the market. The increased activity comes as many users rush to complete their Know Your Customer verification to secure their holdings before the final migration phase.
Market analysts believe breaking the $1.7 resistance level could set the stage for upward movement. PI Coin could soon test the $2 resistance mark if buying pressure continues. Historical data shows it has not reclaimed this level over the past 14 days.
A successful move past this point could lead to a rally toward $5 in the coming weeks. If achieved, analysts place long-term projections at $20, depending on key developments.
Why is PI Network Soaring As KYC Deadline Draws Close
A major reason for PI Coin’s price surge is the upcoming March 14 KYC and Mainnet migration deadline. PI Network has reminded users that unverified balances will be lost after this date, driving more engagement within the community.
Many users who previously ignored the process are now rushing to complete their verification, increasing PI Coin’s demand.
In addition, speculation about a potential coin listing on the Binance exchange has contributed to the rally. Last month, Binance posted an announcement to its community regarding a possible listing of PI Network on the platform.
While the Binance PI vote indicated that 87.1% of participants favored listing the coin on the exchange, it has yet to make an official announcement.
What Next for PI Coin?
With PI Coin holding above $1.7, many investors believe the price could soon challenge $2. If momentum continues, the next targets could be $5 and $10 before the migration deadline.
However, the key factors that could push PI Coin toward $20 include successful KYC completion, increased adoption, and a major exchange listing. However, analysts advice tempered expectations considering the volatile PI ecosystem.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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.
Ethereum price is poised for further recovery as analysts have identified hidden bullish divergence that could enhance the previous rally. The pattern which indicates momentum shifts has it that, contrary to the present slump in the price, ETH could be on course to rise above its previous record high of $4,850.
If this pattern holds, Ethereum could be positioned for a climb to $8,000, a move that would likely trigger an altcoin rally.
Hidden Bullish Divergence Signals Ethereum Price Rally to $8,000
Analyst Javon Marks shared on the X platform that Ethereum price has confirmed a Hidden Bullish Divergence, which often signals a continuation of an existing uptrend. The pattern indicates that despite a recent pullback, the underlying momentum remains strong, suggesting a recovery in ETH price.
This technical formation typically appears when an asset’s price makes a higher low while its relative strength index (RSI) forms a lower low. Such a setup often leads to a continuation of the previous uptrend. With Ethereum price already displaying this pattern, analysts believe the next major resistance level to watch is $4,850. A successful breakout above $4,850 could clear the way for Ethereum price to reach $8,000.
Ethereum Drops Below Realized Price
Additionally, Ethereum recently fell below its realized price of $2,054 for the first time since February 2023. The realized price represents the average price at which ETH tokens last moved on-chain, providing insights into the overall market sentiment and profitability of holders.
On-chain data from Glassnode revealed that Ethereum’s market value to realized value (MVRV) ratio dropped to 0.93, indicating an average unrealized loss of 7% for ETH holders. Historically, dips below the realized price have often preceded market recoveries as long-term investors accumulate during these periods.
However, a recent CoinGape price analysis revealed that Ethereum price might see further downside if selling pressure continues to rise. Whale transactions to exchanges have intensified, raising concerns about a potential ETH drop below the $1,500 mark. However, a bullish diamond pattern suggests that ETH could rebound if it breaks key resistance levels.
Momentum Could Trigger Altcoin Rally
Notably, a rally above $4,850 may take Ethereum price to $8,000 and possibly trigger an altseason. Majority of the altcoins replicate the movement of ETH especially when the price is rising sharply.
Moreover, such a rally will bring institutional and retail investors into the market, therefore, a multiplier effect may be observed across other cryptos. This would be good for altcoins as many of them are yet to recover from the effects of recent pullbacks.
Analysts have identified the $1,600 to $1,900 range as a potential support zone for Ethereum price. Recent data from Glassnode shows that around 600,000 to 700,000 ETH were accumulated near the $1,900 level.
If the top altcoin maintains this support and gains momentum, the resistance at $2,200 could be the next hurdle. A successful breakout from will set the stage for an altcoin rally to $4,850, confirming the path to $8,000.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
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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