contributor
Posted:
- Binance to list Thena for trading.
- THE has surged by 543.10% following Binance’s announcement.
Over the past 24 hours, Thena [THE] has seen a massive boost following Binance’s announcement. Over this period, Binance announced it would list THE token. This news has triggered a massive market excitement among trades, as many anticipate increased liquidity and overall market exposure.
According to Binance, the crypto exchange will start trading for multiple pairs such as THE/BTC, THE/BNB, and THE/USDT. Binance will list THE on the 27th of November at 10:00 (UTC) and open trading with the pairs mentioned above.
This is a significant milestone for the altcoin as the listing positions it for wider adoption and higher liquidity, which is central to growth.
Impact on THE’s price charts?
As expected, this upcoming listing has had a massive impact on THE’s price charts. In fact, following the listing, THE has soared by 543.10% and was trading at $1.35, at press time.
Also, the altcoin’s market cap has surged by 954.58% to $103.68 million over the past day. This upsurge has also seen its trading volume surge by a record, 36674.80% to $56.19 million following the listing.
Source: TradingVIew
Since hitting a low of $0.20, THE has surged to a high of $1.5. This upsurge was driven by increased demand as many investors purchased the altcoin.
The total number of holders has surged to 20.03k, according to Token Terminal.
Source: TradingView
Additionally, we can see this demand through increased buying pressure. THE’s Relative Strength Index (RSI) has surged to a record high of 96.31, suggesting that buyers are in total control.
This dominance has pushed the altcoin to strong upward momentum, evidenced by a rising DMI that has hit 64.15.
Source: Market Prophit
Finally, Thena is experiencing strong positive sentiment as suggested by Market Prophit. Crowd sentiment was at 0.213 with a Buzz score of 0.9419. This shows that investors are highly bullish and anticipate prices to rise with the listing.
Simply put, Binance listing positions Thena to greater liquidity as it tends to attract more investors, which further drives prices up.
As such, with the listing and increased demand, THE could make more gains on price charts. Thus, with the newfound interest, THE could attempt a $1.6 resistance level.
