SANTOS Price Spikes Over 100% Upon Binance Futures Listing, What’s Next?

Santos FC Fan Token nabbed substantial investor attention on Monday as SANTOS price extended intraday gains to over 100% amid a major exchange listing. Notably, with the crypto exchange giant Binance revealing listing for the token, bullish market sentiments appear to have engulfed the fan crypto. Meanwhile, market watchers speculate whether the listing could help the token sustain an uptrend ahead.

Santos FC Fan Token Sparks Optimism With Binance Listing

In an effort to broaden trade offerings for users, Binance officially announced listing SANTOS USD-Margined perpetual on October 28. According to the exchange’s announcement, the firm’s future trading arm will launch the SANTOSUSDT contract with up to 75x leverage for users. Starting today at 14:00 UTC, the platform’s colossal user base can partake in futures trading the fan crypto.

The tick size for the digital asset set by the exchange was 0.001. Further, the capped funding rate was set at +2.00% / -2.00%. However, the crypto exchange giant clarified that the perpetual contract remains poised to face potential adjustments ahead based on market risk conditions. These potential changes could encompass adjustments in the future contract’s funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements. Nevertheless, the announcement by one of the top crypto exchanges has fueled a positive impact on SANTOS price.

Fan Token Soars 100%

Notably, with Binance’s listing coming into play, SANTOS price soared over 100% from its 24-hour low and is currently trading at $6.07. The crypto’s intraday low and high were recorded as $3.20 and $7.99, respectively. Notably, the fan crypto’s 24-hour trading volume witnessed a 1552% increase to $220.72 million today, indicating that traders reacted positively to the listing announcement.

Meanwhile, the price gains for the token are primarily attributable to the abovementioned futures listing. CoinGape Media recently reported a similar chronicle wherein the Solana meme coin Moo Deng price skyrocketed phenomenally with its futures listing on the same exchange. Notably, MOODENG price extended gains to 170% to date since October 25 with its perpetual cpntract launch. This chronicle further aligns with the fan token’s futures listing, projecting bullishness on SANTOS price’s future movements.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.