Connect with us

Altcoin

SAFE Price Skyrockets 88% On Major Listing, More Gains Ahead?

Published

6 months ago

on


Safe, the largest smart account ecosystem on EVM, nabbed substantial investor attention across the crypto industry on Thursday as its native coin’s SAFE price rocketed nearly 88%. The leading S. Korean crypto exchange Upbit listed the token, prompting market reactions from traders and investors. Meanwhile, crypto market participants speculate whether the coin could sustain a bullish movement ahead in light of its recent listing.

SAFE Secures Major Exchange Backing Sparking Optimism Over Price

As per an official Upbit announcement dated October 24, the S. Korean crypto exchange is listing SAFE in KRW, BTC, and USDT trading pairs today.

“Deposits and withdrawals through networks other than the guided network are not supported,” the exchange added. Buy orders are restricted for roughly five minutes after the trading support commences.

Further, deposits and withdrawals are allowed only via personal wallet addresses where the ‘confirmation of ownership’ has been done. However, Upbit notified users that when depositing large sums of digital assets from unknown sources, a call for the source of funds may be requested.

Coin Price Shoots Up 88%

Nevertheless, the announcement by one of the leading crypto exchanges has promptly fueled a positive impact on SAFE price. The coin currently reflects immensely bullish market sentiments, with on-chain stats also mirroring an uptrend.

At press time, SAFE price surged by a staggering 88% from its 24-hour low and is trading at $1.75. The crypto’s intraday low and high were recorded as $0.9199 and $1.78, respectively. Even traders reacted positively to the Upbit listing, as seen by a whopping 453% surge in the asset’s intraday trading volume.

Further, Coingass data indicated a remarkable 500% surge in SAFE futures OI to $7.62 million. Moreover, the derivatives volume upsurged 33% to $14.10 million. The data underscores an uptrend for the token today, coupled with its phenomenal activity in derivatives market.

Simultaneously, it’s noteworthy that leading crypto exchanges’ listings fuel a bullish momentum for an asset’s price. CoinGape media reported Simon’s Cat (CAT) price to have shot up nearly 40% with its futures listing on Binance recently. Notably, the cat-themed token extended gains to nearly 77% to date after the perpetual listing. This chronicle has further hinted that SAFE price could see further gains ahead.

✓ Share:

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.





Source link

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Altcoin

Binance Lists BABY As Bitcoin Protocol Babylon Goes Live

Published

26 minutes ago

on

April 10, 2025

By


Cryptocurrency exchange Binance has revealed the listing of BABY, the native token of the Babylon Genesis blockchain. The listing comes as the Babylon Foundation finished its airdrop of 600 million BABY tokens to early adopters and contributors to the ecosystem.

Babylon Genesis Launches As First Bitcoin-Secured L1 Blockchain

The Babylon Genesis blockchain has officially gone live. The project has described itself as the launch of “the world’s first L1 blockchain secured by Bitcoin.” According to an X post by the Babylon team, this launch establishes the Babylon Bitcoin staking protocol as a “foundational infrastructure layer for Bitcoin.”

The project brings with it a fresh paradigm to securing blockchains as it employs Bitcoin as the Layer-1 blockchain’s security mechanism. In the system, the holders of Bitcoin are able to stake their BTC in order to secure the Babylon network and, as a reward, receive BABY tokens.

Babylon’s mission is to realize the maximum utility of Bitcoin by reconditioning “idle Bitcoin to be the foundation of the decentralized economy.” Such an approach helps fix Bitcoin’s lack of programmability without violating its security paradigm by using the staking protocol.

BABY Token Airdrop Successfully Launched

Babylon Foundation reported the completion of its airdrop of BABY tokens to early entrants in its ecosystem. According to official information, the airdrop distributed 600 million BABY tokens. This accounts for 6% of the total supply of 10 billion tokens.

In their announcement tweet, the foundation stated: “Dear Babylonian, the Babylon Foundation is happy to announce that the airdrop has just been successfully executed! You should be able to see your BABY in your wallet very soon.”

The foundation confirmed that there are no transfer restrictions on the airdropped tokens. This gives recipients immediate freedom to trade or use their BABY holdings. Recipients also have the option to stake their BABY tokens to secure the Babylon Genesis network and earn additional tokens as staking rewards.

The airdrop acts as a reward mechanism for early adopters and as a way to distribute governance rights.

Binance Listing Details And Token Information

Binance’s listing of the BABY token provides immediate liquidity for airdrop recipients and other BABY holders. According to the exchange’s announcement, trading for BABY began on April 10, 2025, at 10:00 UTC. The tokens are available to trade against five different currencies: USDT, USDC, BNB, FDUSD, and TRY.

The leading crypto exchange has applied the “seed tag” to BABY. This generally indicates to traders that the token is in early stages and may carry additional investment risks. Deposits for the token will be enabled six hours after Binance’s announcement. This allows users time to prepare for trading. The exchange’s announcement comes after it unveiled its decision to delist 7 crypto pairs.

The total supply of BABY tokens is set at 10 billion, with the recent airdrop distributing 600 million tokens or 6% of this total supply. This distribution approach aims to establish a broad base of token holders who can participate in the network’s governance from its early stages. According to CoinMarketCap data, Babylon is trading at $0.1032 with a market cap of $234 million.

✓ Share:

Vignesh Karunanidhi

Vignesh Karunanidhi is a seasoned crypto journalist with nearly 7 years of experience in the cryptocurrency industry. He has contributed to numerous publications, including WatcherGuru, BeInCrypto, Milkroad, and authored over 10,000 articles

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.





Source link

Continue Reading

Altcoin

Analyst Reveals How XRP Price Can Hit $22 If BTC Rallies To This Level

Published

2 hours ago

on

April 10, 2025

By


XRP price has surged nearly 10% today, indicating a renewed market interest in Ripple’s native asset. Notably, the robust surge comes amid a broader crypto market recovery and several other positive developments like the successful ETF launch in the US. Amid this, a top expert has highlighted the XRP/BTC performance and said that Ripple’s native asset is likely to hit $22 if Bitcoin hits a new ATH ahead.

XRP/BTC Bullish Cross Signals Massive Surge Ahead

Crypto analyst EGRAG CRYPTO recently highlighted a major bullish signal on the XRP/BTC chart. He pointed out a rare crossover of two key indicators, i.e. the 55-week Exponential Moving Average (EMA) and the 155-week Moving Average (MA). According to him, this “Bullish Cross” could be a game-changer for XRP holders.

EGRAG explained that the last time this crossover occurred was back in May 2017. XRP price rallied 958% shortly after that event. A similar cross took place again on February 17, 2025, and could repeat the explosive pattern if market conditions align.

Meanwhile, he added that if XRP/BTC retests the 55 EMA level of 0.00001850, Ripple’s coin could reach around $1.48, assuming Bitcoin trades at $80,000. However, if the historical pattern plays out and XRP/BTC gains another 958%, XRP price could skyrocket much higher. Besides, it also comes amid a surge of nearly 6% in BTC price today.

XRP Price Likely To Follow Bitcoin Move

EGRAG CRYPTO’s prediction hinges heavily on Bitcoin’s next major move. If Bitcoin price revisits its 2025 ATH near $109,000 and retraces to $97,000, XRP could hit $16.5. But if BTC breaks into higher territory, the numbers look even more bullish.

For context, he calculated that if Bitcoin touches $130K, XRP could trade at $22. Furthermore, if BTC rallies to $150K, XRP might surge to $25. A push toward $170K could propel XRP to $29, he added.

XRP/BTC Price ChartXRP/BTC Price Chart
Source: EGRAG CRYPTO, X

Why Does This Technical Signal Matters?

The analyst believes most traders overlook the significance of the 55 EMA and 155 MA combination. He noted that many still doubt XRP’s ability to reach double digits, especially after the recent crypto market crash.

However, the analyst remains firm in his belief that the chart tells a different story. He believes that as long as the XRP/BTC pair holds above the 55 EMA, the bullish projection for the XRP price stays valid.

XRP Price Soars 10%

XRP price today was up nearly 10% and exchanged hands at $2, while its one-day volume rose 3% to $8 billion. Simultaneously, the XRP Futures Open Interest also soared past the $3 billion mark with over 4% surge, CoinGlass data showed.

Notably, this recent surge comes as the Ripple network has seen a massive surge in active addresses recently. Besides, the recent XRP ETF launch in the US has also bolstered market confidence. The first-day volume of the Teucrium 2X Long Daily XRP ETF has outshined Solana’s 2X ETF (SOLT) first-day volume.

Considering all these fundamental developments, it appears that the crypto is gearing up for a major rally ahead. Besides, the analyst’s forecast, if holds true, could send the crypto to over $20 in the coming days.

✓ Share:

Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

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.





Source link

Continue Reading

Altcoin

Will Q2 2025 Mark the Return of Altcoin Season?

Published

3 hours ago

on

April 10, 2025

By


The cryptocurrency market is showing potential signs of an impending altcoin season. Market watchers cite a confluence of technical, sentiment, and macroeconomic factors that could lead to a significant rally in altcoins.

The outlook follows a notable downturn in the altcoin market, which has dropped about 37.6% since its high in early December 2024. As of the latest data, the market cap stands at $1.1 trillion.

Is Altcoin Season Coming? 

From a technical perspective, Bitcoin (BTC) Dominance, which measures Bitcoin’s market share relative to the total cryptocurrency market, seems to be at a key turning point. 

A recent chart shared by crypto analyst Mister Crypto on X highlighted that Bitcoin Dominance has reached a resistance following a rising wedge pattern. This pattern is generally seen as a bearish signal, often leading to sharp pullbacks.

Bitcoin Dominance Chart
Bitcoin Dominance Chart. Source: X/Mister Crypto

“Bitcoin Dominance will collapse. Altseason will come. We will all get rich this year!” he wrote.

In addition, another analyst corroborated these findings, noting that Bitcoin Dominance has reached a peak. Thus, he forecasted a subsequent downturn. 

However, the Altcoin Season Index has dropped to a low of 16. The index, which analyzes the performance of the top 50 altcoins against Bitcoin, indicated that altcoins are currently underperforming.

Altcoin Season Index
Altcoin Season Index. Source: Blockchain Center

Notably, this level mirrors the bottom for altcoins observed around August 2024. This period preceded a significant altcoin rally, and the index peaked at 88 by December 2024.

Lastly, from a macroeconomic perspective, the 90-day delay in President Donald Trump’s tariff implementation has renewed market confidence. This delay is perceived as a positive signal, potentially encouraging capital inflows into altcoins.

“90 days tariff pause = 90 days of altseason,” an analyst claimed.

Moreover, analyst Crypto Rover pointed to quantitative easing (QE) as a catalyst for an altseason. According to him, when the central bank starts pumping money into the economy (through QE), altcoins could experience a significant price surge, benefiting from the increased liquidity and investor optimism.

“Once QE starts. Altcoin season will make a massive comeback!” he stated.

However, in the latest report, Kaiko Research stressed that a traditional altcoin season may no longer be feasible. Instead, any potential rally could be selective, with only a few altcoins experiencing significant upside. The focus will likely be on assets with real-world use cases, strong liquidity, and revenue-generating potential.

“Altseasons may become a thing of the past, necessitating a more nuanced categorization beyond just ‘altcoins,’ as correlations in returns, growth factors, and liquidity among crypto assets are diverging significantly over time,” the report read.

Kaiko Research noted that the growing concentration of liquidity in a few altcoins and Bitcoin may disrupt the typical capital flow into altcoins during market upswings. Furthermore, as Bitcoin becomes more widely adopted as a reserve asset by institutions and governments, its position in the market strengthens further.

Ultimately, while the signs point to a potential altcoin rally, it’s clear that the future of altcoins could involve more nuanced market dynamics.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io