Vine Coin experienced a remarkable price increase following Binance‘s announcement regarding futures listings for the token. On Friday, the VINE price jumped approximately 60%, capturing significant attention. This surge in popularity for the token is further fueled by speculation surrounding Elon Musk’s potential revival of the Vine social media application.
Binance Announces New Futures Listing
In an official announcement on January 24, Binance revealed the launch of perpetual contracts for Vine Coin. According to the statement, the exchange will offer the VINEUSDT perpetual contract with a leverage of up to 75 times. This new listing expands trading opportunities for the token, enhancing its market visibility.
Musk’s Comments Propel Speculation
Elon Musk’s remarks about the possible return of the Vine social media platform have further increased attention on the token. As the leader of Tesla and SpaceX, Musk’s statements can significantly influence market movements.
Creators of the social media application, Rus Yusupove, announced the new token on the X platform, stating, “We aim to elevate user experience with Vine Coin.” This reveals the project’s ambitious goals.
According to CoinGape, a cryptocurrency investor made a substantial profit with Vine Coin. A $270,000 loss transformed into a $4.5 million gain thanks to the token’s price surge, increasing investor interest in Vine Coin.
Currently, Vine Coin trades at $0.2702, with a recent 24-hour range between a low of $0.1264 and a high of $0.4289. Market observers believe that, with Binance’s futures listing and the potential return of the social media application, the token could gain even more value.
The current rise of Vine Coin is supported by new trading opportunities offered by exchanges and increased market interest. Should the social media platform be revived, a greater influx of investment into the token’s ecosystem is expected. The listing by Binance and Musk’s supportive comments signal positive prospects for the token’s future. Investors assess that if these developments continue, they could see greater profits, although caution is advised due to the volatility of cryptocurrency markets.
