VeThor token saw a surge in its price movement after Binance accounced that it will introduce the VTHOUSDT Perpetual Contract on January 22nd.
The listing will come with up to 75x leverage in order to increase the range of trading options available on the platform and improve the trading experience for customers.
The move stays in tandem with other exchanges that have also listed the VTHO token amid a market demand. The continuous listing from various exchanges had kept the token sentiment upbeat, making it trade over 300%.
However, the token later saw a brief period of negative trading before rising nearly 2% post the Binance listing announcement.
Upbit Lists VTHO Token
Binance’s move stays in tandem with other market player. Previously, on January 21, Upbit, the biggest cryptocurrency exchange in South Korea, stated that VeThor Token would be listed on the exchange.
This announcement caused a significant spike in the token’s price and trading activity. The news instantly sent traders into a frenzy, causing the price of VTHO to soar 230% to $0.01, a level it hadn’t hit since November 2021.
The token has risen an astounding 125% in the last day, even if it has subsequently leveled off at $0.005. With trading volumes skyrocketing, VTHO has increased by 5000% to $230 million.
VeThor Price Prediction: What to Expect?
With multiple exchanges listing the toke, the present sentiment for VeThor is bullish.
According to market technical indicators, the Fear & Greed Index is at 84 (Extreme Greed). Over the previous 30 days, the VeThor Token saw 14 out of 30 (47%) green days with price volatility of 12.65%.
With 27 technical analysis indicators indicating optimistic signals and one indicating negative signals, the overall sentiment for the VeThor Token price prediction is bullish.
If the current optimism around the token continues, VeThor Token’s 200-day SMA is expected to increase over the course of the upcoming month, reaching $0.003249 by February 21, 2025. During the same period of time, the short-term 50-day SMA for VeThor Token is predicted to reach $0.006238.
One well-liked indicator for determining if a cryptocurrency is overbought (above 70) or oversold (below 30) is the Relative Strength Index (RSI) momentum wave. With the current RSI reading of 82.89, the VTHO market is showing signs of being overbought. The price of VTHO is expected to rise, according to the RSI indicator.
Also Read: Former Binance CEO CZ Announces Clarification on “Buying Bitcoin Today” Post