Vine Coin Price Surges 60% Amid This Binance Announcement, What’s Next?

Vine Coin has recently emerged as the talk of the crypto town by witnessing major price gains and a listing. Notably, VINE price shot up nearly 60% on Friday as Binance unveiled a futures listing for the token. Further, in light of recent events such as Elon Musk fueled speculation over the revival of the Vine social media app, this new token has gained significant traction across the broader crypto industry.

Vine Coin Price Bullish As Binance Launches Futures Listing

In an official Binance announcement dated January 24, the crypto exchange revealed a perpetual contract launch for Vine Coin. As per the announcement, the crypto exchange’s futures division is launching the VINEUSDT perpetual contract with a maximum of 75x leverage for users at 10:00 UTC today.

As a result, the coin’s price saw considerable gains amid enhanced trade offerings and heightened market exposure. Moreover, the capped funding rate for the asset was set at +2.00% / -2.00% by the exchange. Altogether, the new futures listing on one of the top crypto exchanges has sparked substantial investor enthusiasm over the token’s future movements amid its recent hype.

Crypto Trader Makes Huge Returns Amid Vine Coin Price Surge

It’s also noteworthy that a crypto trader has made massive profits with Vine Coin, CoinGape recently reported. Notably, the token aided a crypto trader in turning a $270K loss into a $4.5 million profit with its massive price surge earlier. This saga has garnered further market attention towards the crypto amid Binance’s listing.

Elon Musk Fuels Speculation With Recent Comments

Simultaneously, it’s also worth considering that American billionaire Elon Musk’s recent comments around the revival of the Vine social media app have brought additional attention to the token. Notably, the Tesla & SpaceX lead recently posted about ‘bringing back’ the social media app, which appears to have added fuel to the fire surrounding the crypto.

Also, it’s worth mentioning that Rus Yusupove, the creator of the social media app, recently announced this new coin on X. Overall, these chronicles revolving around American prominencies have further bolstered the market sentiment for Vine Coin amid its recent price breakout.

VINE Shoots Up 60%

At the time of reporting, VINE Coin price witnessed a phenomenal 60% uptick in value and is currently trading at $0.2702. The coin’s 24-hour low and high were $0.1264 and $0.4289, respectively. Notably, the recent upward trajectory aligns with the heightened market interest amid Binance futures listing and speculations of the revival of the social media app.

Further, market watchers remain bullish on future movements in light of the abovementioned factors. Given that the social media app comes back to life ahead, the market sentiment orbiting this crypto could be further uplifted. Meanwhile, the futures listing paves the way for further money inflow into the token’s ecosystem, indicating more price gains are possible.

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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.