The price of Berachain (BERA) has experienced a substantial surge following Binance‘s listing and additional trading support. In the last 24 hours, the altcoin has skyrocketed by 630%, capturing the attention of many traders. The expansion of trading opportunities for BERA on Binance has facilitated its increased market adoption, prompting investors to speculate whether this upward trend will continue.
Berachain’s Price Soars with Binance Listing
Being listed on cryptocurrency exchanges generally boosts investor interest, causing significant price movements. Binance’s increased trading support for Berachain is a key factor in the current price rise.
Binance has integrated Berachain into various trading sections, including Simple Earn, Buy Crypto, Convert, Margin, Auto-Invest, and Futures. Users began purchasing flexible products through Simple Earn as of February 6, while Auto-Invest became available for the altcoin on February 7.
To facilitate BERA purchases, Binance supports several payment methods, including VISA, MasterCard, Google Pay, Apple Pay, and Revolut. Additionally, purchases can be made from account balances. Within an hour of being listed on the spot market, BERA became tradable using the Convert feature against pairs like BTC and USDT.
Crypto Whales Are Buying In
Berachain’s significant price movements have drawn the attention of crypto investors. Notably, the trades made by large investors (whales) have increased speculation. According to on-chain analysis platform Lookonchain, one whale invested 1.6 million USDC to short BERA at $13, earning a profit of $589,000 before closing the position after a price drop. However, despite this selling pressure, the altcoin’s downward movement has been limited.
Conversely, another large investor has taken a long position on BERA, investing 2.5 million USDC, anticipating a rise in the altcoin’s value. Such substantial trades continue to influence market participants’ predictions.
Currently, the price of BERA stands at $7.70, fluctuating between $1 and $14.99 within 24 hours. The 165,000% increase in trading volume illustrates the immense interest from investors.
