Binance has announced that it will launch USDⓈ-Margined PHAUSDT and DFUSDT perpetual contracts with up to 75x leverage. The listing will be completed at 11:30 (UTC) on December 30th.
The news about the listing likely gave the $DF token an optimistic boost, making the token trade above 8%. However, $PHA saw a downward trading of over 1% at the press time.
Is The Binance Listing Effect Waning?
In the past Binance future listing would mostly create an upbeat projection about a token, making it rise drastically. A good example of this is HIVE token rising above 9% after getting listed by Binance futures.
Similarly $VANA & $MOCA perpetual contract listing had triggered a price surge of 17% & 142%, respectively.
However, the trend seems to be waning in the present times, given that investors might be looking other broader factors apart from considering only futures listing.
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$PHA Token: Technical Indicators and Popularity
The $PHA token has seen a rise in popularity in the past couple of months. A major reason behind this is the decentralized cloud computing platform Phala Network placing a high value on security and privacy.
It stands out in the crowded cryptocurrency industry thanks to its creative approach to safe data processing, which has attracted a lot of attention.
Overlooking the current volatility for the $PHA token, the market sentiment for the token is bullish, according to most technical indicators. The Fear & Greed Index for $PHA is at 65 (Greed) and over the previous 30 days, Phala Network saw 15 out of 30 (50%) green days and 44.24% price volatility.
With 29 technical analysis indicators indicating optimistic signals and two indicating bearish signals, the overall Phala Network price prediction sentiment is bullish, giving a hint that the token is likely to rise in the future.
$DF Token: Technical Indicators and Popularity
$DF’s present investor sentiment is bullish and the Fear & Greed Index is at 65 (Greed).
Over the previous 30 days, dForce Token had 16 out of 30 (53%) green days and 27.39% price volatility. With 26 technical analysis indicators indicating optimistic signals and three indicating negative signals, the overall sentiment for the price prognosis of the dForce Token is also bullish.
The main reason behind the $DF token popularity is the devlopment in its ecosystem. The multi-chain platform called dForce seeks to advance the integration of open financial platforms that completely encompass a variety of stablecoins as well as digital and synthetic assets.
Additionally, DF, dForce’s native token, serves as a governance token as well as is utilized for validator deposits, transaction services, community governance, system stabilization, and incentives.
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