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- FIDA and MEW have experienced substantial price increases due to key exchange listings.
- Both cryptocurrencies garnered attention from the global market as they saw their prices surge above 25%.
- “The moment a cryptocurrency gets listed on major exchanges, it often experiences a price surge due to investor optimism,” stated a financial analyst.
Discover how FIDA and MEW skyrocketed beyond 25% after vital listings on Binance and Upbit, marking a significant milestone in the crypto market.
Major Listings for Solana Tokens FIDA and MEW
On September 19, 2023, Binance and Upbit made official announcements that brought significant momentum to Solana-based tokens FIDA and MEW. Binance rolled out the FIDAUSDT USD-Margined perpetual contract, which opened a trading avenue with up to 75x leverage. Concurrently, Upbit listed MEW on its BTC and USDT markets, providing innovative opportunities for crypto enthusiasts in Asia.
Impacts of the Listings on Price Movements
Following the announcements, FIDA saw an incredible 45% increase in value, highlighting a strong positive response from investors. The token’s price escalated to $0.3243, with intraday swings ranging from $0.2204 to $0.3297. Similarly, MEW witnessed a 26% uptick, reaching $0.00533. This enthusiastic market reaction is not uncommon, as previous listings—such as Kadena (KDA) and PEPE—have shown similar upward trends.
Market Optimism and Future Outlook
This impressive price action has fostered significant optimism among traders. Coinglass data showed an 82% increase in MEW’s futures Open Interest (OI), soaring to $76.31 million. Furthermore, MEW’s derivatives volume surged by 531%, hitting $735.63 million within a day. These metrics reflect growing investor confidence in the potential for further price appreciation.
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Conclusion
The recent listings of FIDA on Binance and MEW on Upbit underscore the critical role that major exchange listings play in driving token value. As these Solana-based tokens gain traction, investors are increasingly optimistic about their long-term prospects. The substantial price surge post-listing serves as a testament to the significant impact of strategic listings on market sentiment and token adoption.
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