On November 21, Binance announced the launch of perpetual contracts for cryptocurrencies SLERF and Secret (SCRT), triggering significant changes in their market values.
SLERF Surges and Larger Transactions
The announcement of SLERFUSDT perpetual contracts by Binance played a pivotal role in the SLERF price spike. The price surged by 55%, reaching $0.4373, while the 24-hour trading volume saw a 219% increase, hitting $271.18 million. Analysts at CoinGape Media observed increased 'whale' activity in SLERF, intensifying buying pressure. Experts note that SLERF is drawing a broader investor base assessing the sustainability of this sudden rise.
SCRT Shows Consistent Growth
Along with SLERF, Binance launched futures contracts for SCRT. Although SCRT's increase wasn't as spectacular, it still reached $0.3393, marking a 2% gain. The daily trading volume saw fluctuations with lows and highs of $0.302 and $0.3791, respectively. The market interprets this as a significant step by Binance to boost liquidity. The new listings provide investors with more trading opportunities.
Outlook and Expert Recommendations
Experts recommend that investors weigh their risks while observing the current trend. Binance's expanded trading options may create new market dynamics. However, whether this activity will remain sustainable is something only time will tell.
The launch of Binance's new futures contracts for SLERF and SCRT has significantly impacted the market, offering new trading opportunities. However, investors should carefully monitor changes and risks.
