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As the crypto market slows down heading into the weekend, Bitcoin continues to hover just below the $68,000 mark. While most altcoins remain in the green zone, some tokens have experienced explosive growth thanks to positive market sentiment and big announcements. In a recent development, crypto giant Binance has announced that it will be adding a new token to its various platforms, sending the token’s price soaring by more than 20% in a single day.
Binance Announces New Token Addition Across Multiple Platforms
As reported by The Bit Journal, Binance’s listing announcements are always closely watched by the market. The addition of a token to the world’s largest cryptocurrency exchange often acts as a major catalyst for price movements. In its latest update, Binance revealed that it will be listing Lumia (LUMIA) on its platform, allowing users to trade the token across several services. The following features will be made available:
- Lumia will be accessible via Binance Simple Earn Flexible Products starting from 18 October 2024.
- Beginning 21 October 2024, users will be able to purchase Lumia through Auto Invest using supported payment methods.
- After the LUMIA token is listed on Binance Spot, users will be able to purchase the token via the “Buy Crypto” page using VISA, MasterCard, Google Pay, Apple Pay, or Binance wallet balances. This feature will go live within an hour after the spot listing.
- Users can convert LUMIA to BTC, USDT, and other tokens via Binance Convert with zero fees within an hour of the spot listing.
- The LUMIA/USDT pair will be available on both Cross and Isolated Margin starting 18 October 2024, 12:00 UK time.
Altcoin Price Jumps by Over 20%
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Following the listing announcement, the price of LUMIA saw a significant surge. The token jumped from its daily low of $1.37 to a high of $1.937. While it has slightly retreated from the peak, LUMIA is still holding strong, trading at $1.76, reflecting a 28% daily gain.
Binance Updates Margin Contracts for 4 Altcoins
In other news, Binance has updated the leverage and margin levels for four U-margin perpetual contracts, including WLDUSDT, APTUSDT, BOMEUSDT, and BNXUSDT. These changes were implemented on 18 October 2024, 11:30 UK time. The exchange confirmed that open positions before the update would not be affected.
Stay tuned to The Bit Journal for more updates on the latest altcoin listings and market movements.
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The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.
Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.
