The recent surge in the market has been triggered by the same catalyst. And it happened again, signaling an imminent increase in volatility for the respective cryptocurrency, according to a new announcement by the Binance exchange.
Crypto giant Binance has just announced that futures trading for GLMR Coin will be listed in a few minutes. The listing will take place approximately 12 hours later. As we remember from the recent FRONT Coin example, this move can support a parabolic rally. At the time of writing, the altcoin, which finds buyers at $0.1627, has not yet priced in this development.
Listings in futures trading do not always have a direct positive impact on the price. However, speculative traders amidst liquidity constraints in bear markets have been using this as a trigger for parabolic rallies. Investors need to be cautious against sudden price fluctuations.
WuBlockchain commented on the recent listing:
â€œBinance Futures will launch the USDâ“ˆ-M GLMR perpetual contract with up to 10x leverage at 01:30 (UTC) on September 26, 2023. Listing on Binance after the pump on Upbit has become a pattern for some altcoins recently.â€