Skyrocketing Altcoin Soars 500% Post Binance Announcement of Support
In a breaking news, Binance announced the delisting of the ALPHA/USDT perpetual contract starting from September 23, 08:30 (UTC). Despite this, the price surge of Stella (ALPHA) was not due to Binance's support. Users are advised to close any open positions for the ALPHA/USDT perpetual contract before the delisting time, as new positions cannot be opened from September 23 onwards.
Meanwhile, Binance has also decided to remove and cease trading on the spot trading pairs NXPC/BNB and HUMA/BNB on September 19. Interestingly, the assets NXPC and HUMA showed little to no price volatility after the announcement, indicating a resilient market.
In other news, Toshi (TOSHI) saw a notable price surge, soaring by 60% to its highest level since February this year. The exact cause of this surge is unclear, but it's a significant development in the Toshi market.
Binance has introduced two new perpetual contracts - the STBL/USDT and TOSHI/USDT contracts on Binance Futures. The STBL token, a governance and utility token of a new stablecoin protocol, saw a dramatic increase in valuation after the introduction of the STBL/USDT perpetual contract. The token's price skyrocketed by almost 500%.
It's worth mentioning that Binance Futures offers up to 50x leverage for the STBL/USDT contract and up to 75x leverage for the TOSHI/USDT contract. However, the article does not mention any new perpetual contracts introduced by Binance that are not related to STBL or TOSHI.
The company that distributes the ALPHA token is Alpha Finance Lab, which is associated with the Binance Alpha sector. Despite the delisting of the ALPHA/USDT Perpetual Contract on Binance, the Binance Alpha sector continues to gain value, suggesting renewed interest and growth in projects like ALPHA.
Lastly, it's important to note that the article does not contain any advertisements for Binance's exclusive welcome offer or other promotions. The current market cap of STBL is standing just north of $100 million.
In conclusion, while Binance delists the ALPHA/USDT perpetual contract, the market for ALPHA remains resilient. Meanwhile, the introduction of new perpetual contracts for STBL and TOSHI on Binance Futures has led to significant price surges for these tokens. The Binance Alpha sector, which includes projects like ALPHA, continues to gain value, indicating a promising future for these projects.
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