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Binance, the king of cryptocurrency exchanges, made an announcement a few minutes ago, and the same thing happened once again. Volatility in open altcoins increases rapidly in futures trading. However, the altcoins listed in Binance’s futures trading experience rapid growth. The same thing happened with a similar announcement.
Why is KAS Coin Rising?
KAS Coin will be available for trading with leverage of up to 50x. The listing on Binance futures trading will take place on November 17th at 02:00 UTC. Following the news, the price increased from $0.131 to $0.148. In recent months, listing news in futures trading has caused altcoins to experience increases of up to 100%.
The price of KAS Coin, which has seen an increase of about 65% in the last 35 hours, may show more volatility after becoming active in futures trading. If the rally continues, we may see the targets of $0.15 and $0.20 being tested. However, the recent accelerated decline in BTC price has the potential to undermine this bullish scenario.
It may be beneficial for investors to act cautiously due to the rapid 65% increase in a short period of time.