COOKIE, SWARMS, and ALCH USD-Margined perpetual contracts were recently introduced by Binance Futures, which ignited price increases in the assets.
On Tuesday, Binance Futures disclosed a significant update regarding the tokens ALCH, COOKIE, and SWARM, which captivated the attention of market participants worldwide. The crypto exchange disclosed introducing USD-margined perpetual contracts for the assets mentioned earlier, providing them with increased market visibility. Consequently, traders and investors are eager to determine whether these coins can maintain a rally in the upcoming days.
Binance Futures Introduces Perpetual Contracts for These Three Tokens
Binance recently announced the launch of SWARMUSDT, COOKIEUSDT, and ALCHUSDT perpetual contracts in a listing announcement on January 7. It is important to note that the COOKIE perpetual contract will be launched at 11:30 UTC, followed by the ALCH and SWARM contracts at 11:45 and 12:15 UTC, respectively. The asset is poised to be traded with up to 75x leverage due to the platform’s extensive user base.
In general, the increased visibility of the assets and the support for market growth that the enhanced trade offering by one of the top crypto exchanges provided prompted market watchers to have a bullish outlook on the tokens. Simultaneously, the recent movements of whales have added an extra layer of market intrigue to one of these tokens.
Whale Data Incite Market Speculation
Notably, a recent X post by the tracker Lookonchain revealed that whales have not ceased purchasing SWARMS. 2 million USDC was withdrawn from Binance by an unknown whale address to buy this token. This movement reverberated optimism for the DAO token; however, another whale was registered to offload the same, which raised uncertainty.
Following the announcement of the futures listing, a whale promptly sold 4.5 million tokens for 9,884 SOL, equivalent to $2.14 million, according to Lookonchain data. Additionally, this trader continues to possess tokens valued at $10.19 million. The whale data has generated uncertainty despite the forthcoming listings.
How are the tokens performing?
The coins generally experienced a surge in response to the announcement of Binance Futures’ listing. The COOKIE price is currently trading at $0.6592, and it has experienced intraday gains of 18% at the time of reporting. The 24-hour low and high of the coin were $0.5302 and $0.6667, respectively.
Additionally, the intraday price of ALCH was $0.1957, representing a nearly 26% increase. The 24-hour low and high of the coin were $0.1478 and $0.2035, respectively.
Finally, the price of SWARMS has experienced a 38% increase and is currently at $0.4903. The 24-hour low and high of the coin were $0.3402 and $0.6145, respectively.
Additionally, it is essential to note that the exchange’s prior chronicles have contributed to the optimism regarding the tokens’ future movements. It is worth noting that Binance had previously announced improved trade offerings for DOGE, SHIB, and PEPE, which has led to optimism regarding potential gains for the meme-themed assets. Subsequently, market analysts conduct an exhaustive examination of the assets, as mentioned earlier, anticipating additional price increases.
