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Published:
- Binance to list Thena for trading.
- THE jumped 543.10% following Binance’s announcement.
Over the past 24 hours, Thena (THE) saw a massive surge following Binance’s announcement. During this period, Binance announced that it would list THE token. This news has sparked massive excitement among deals as many anticipate increased liquidity and overall market exposure.
According to Binance, the crypto exchange will start trading multiple pairs such as THE/BTC, THE/BNB, and THE/USDT. Binance will list THE on November 27 at 10:00 AM (UCT) and open trading with the pairs mentioned above.
This is an important milestone for the altcoin as its listing positions it for wider adoption and higher liquidity, which is key to growth.
Impact on THE price charts?
As expected, this upcoming listing has had a massive impact on THE price charts. In fact, after the listing, THE soared 543.10% and was trading at $1.35 at press time.
Furthermore, the altcoin’s market cap surged 954.58% to $103.68 million over the past day. This upsurge also saw its trading volume increase by a record, 36,674.80% to $56.19 million post-listing.
Source: TradingView
Since hitting a low of $0.20, THE has reached a high of $1.50. This upsurge is driven by increased demand as many investors are buying the altcoin.
The total number of holders increased to 20,03,000, according to the token terminal. These show increased demand and adoption of the altcoin.
Source: TradingView
Additionally, we can see this demand through increased buying pressure. THE’s Relative Strength Index (RSI) has reached an all-time high of 96.31, suggesting that buyers are in complete control.
This dominance has pushed the altcoin into strong upward momentum, as evidenced by the DMI rising to 64.15.
Source: Market Prophet
Finally, Thena is experiencing strong positive sentiment, as evidenced by Market Prophit. So the crowd sentiment was 0.213 with a Buzz score of 0.9419. This shows that investors are very optimistic and expect prices to rise with the listing.
Simply put, the Binance listing positions Thena for greater liquidity, as it tends to attract more investors, which drives prices even higher.
As such, with the listing and increasing demand, THE could make more gains on the price charts. So with the new interest, THE could attempt a resistance level of $1.6.
