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USELESS Coin Soars After Binance Listing
In a surprising turn of events, the cryptocurrency known as USELESS coin has experienced a dramatic surge of 52% following its listing on Binance. This memecoin, originating from the LetsBONKfun ecosystem, has defied its name by demonstrating significant utility and market appeal, attracting substantial attention from traders and investors alike.
Key Takeaways
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USELESS coin price jumped 52% after its Binance listing.
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The token saw its price climb from $0.19 to $0.33.
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Social interest grew by 42% with nearly 9,700 new followers.
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Other exchanges like Kraken listed the token, and Coinbase added it to its roadmap.
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Trading activity saw a 300% increase, with daily volume reaching $420 million.
Exchange Listings Fueling Growth
The listing on Binance proved to be a catalyst for USELESS coin, but the momentum didn't stop there. Other major cryptocurrency exchanges quickly followed suit. Kraken also listed the token, further expanding its accessibility. Notably, Coinbase announced that USELESS has been added to its listing roadmap, signaling potential future visibility within the crucial U.S. market. This wider exposure is believed to be attracting new buyers and capital into the token.
Community and Market Sentiment
Social media engagement for USELESS coin has seen a significant uptick, with a 42% increase in social interest over 30 days, translating to approximately 9,700 new followers. This surge in community interest is a key factor in the token's performance. On decentralized exchanges, USELESS has outperformed other top memecoins in terms of netflows, even surpassing Bonk (BONK) in some metrics. Data indicates it is the most held token among the platform’s top four memecoins, underscoring strong community backing.
Trading Activity and Price Action
The trading volume for USELESS coin experienced an impressive 300% increase, with daily trading volume reaching $420 million. This figure is more than 1.5 times the token's market capitalization. Initially, the price surged from $0.19 to $0.33, prompting some traders to take profits. However, order book data revealed heavy bids prior to the Binance announcement, leading to speculation about potential insider trading. Despite profit-taking, buy-side depth has increased, and technical indicators suggest continued volatility, with key resistance levels identified at $0.33 and potential support at $0.27.
Sources
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