Why AAVE, STMX & SUN Price May Rally Ahead?

The latest update from Binance regarding cryptocurrencies including AAVE, StormX (STMX), and SUN has reverberated optimism among investors across the broader market. As the leading crypto exchange revealed new spot trading pairs for the mentioned tokens on Tuesday, investor sentiments on the crypto assets’ future price action have taken an optimistic turn.

Meanwhile, crypto traders speculate whether the move by the exchange could spark a further rally as prices pullback after skyrocketing. Intriguingly, Binance’s listing chronicles have previously sparked significant gains in cryptocurrencies. For context, the recent talk of the crypto town, TON-based DOGS price surged nearly 120% with spot listing on the crypto exchange.

AAVE, STMX, and SUN Brace For Impact With Binance Listing

Binance official announcement dated September 3 has garnered significant optimism on AAVE, STMX, and SUN price action ahead. The crypto exchange announced that it will commence spot trading for AAVE/USDC, STMX/TRY, and SUN/TRY pairs on September 4 at 8 AM UTC.

Further, the announcement revealed that the CEX will also start TRX/USDC spot trading on the same date and time. This announcement has garnered optimism, offering increased money inflow to the coins.

In addition, the exchange revealed that it will streamline trading bots services for specific pairs starting September 4 at 8 AM UTC. These pairs included:

Spot Algo Orders: AAVE/USDC, STMX/TRY, SUN/TRY and TRX/USDC.

Spot Grid, Spot DCA and Rebalancing Bot: DOGS/USDT, RENDER/USDT, REZ/USDT, ZK/USDT, ZRO/USDT.

Overall, the exchange’s announcement paves the way for increased investor participation, potentially driving an upward momentum in the tokens’ prices.

How Are The Coins Performing Today?

At press time, AAVE price soared nearly 9% and is currently sitting at $131.5. Its intraday lows and highs were $120.46 and $135.13, respectively. Coinglass data spotlighted a 19% surge in the token’s futures OI today. Further, its 24-hour trading volume surged 34.65%, driving investor optimism.

StormX price soared 6% today, reaching $0.006542. The intraday low and high were $0.006003 and $0.006588, respectively. The token’s futures OI noted a 0.6% uptick today. Also, its 24-hour trading volume soared 4.70%.

Nonetheless, SUN price slipped 3% despite the listing announcement, stirring speculations among market participants. The coin traded at $0.03259, with its 24-hour lows and highs were $0.03135 and $0.03451, respectively. Coinglass revealed a 2% dip in the coin’s futures OI today. However, its 24-hour trading volume noted a 16.83% uptick.

Crypto market participants continue to watch these tokens, as the looming listing could spark a considerable price action shift. Meanwhile, in another optimistic buzz, Binance added TON on Simple Earn locked products today, marking a significant stride in the market.

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Coingape Staff

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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.