Binance Sparks Massive Price Surge for 2 Altcoins: Here’s What You Need to Know
Binance just lit the fuse on two altcoin rockets—and traders are scrambling to catch the momentum.
The Catalyst: Exchange Momentum
When Binance adds support or features for specific tokens, liquidity floods in. Trading volumes spike, algorithms trigger buys, and retail FOMO kicks in—classic crypto market mechanics in action.
Price Action Unleashed
Both assets ripped double-digit gains within hours of the announcement. One even notched a new monthly high while clearing key resistance levels—something technical traders had been watching closely.
Market Impact & Sentiment Shift
Altcoin seasons often start like this: a major exchange makes a move, narratives form, and suddenly everyone’s an expert on tokens they hadn’t heard of last week. This time? No different.
Of course, in crypto, what goes up fast can come down faster—especially when the “fundamentals” are just exchange listings and influencer hype. But for now, the charts are green, and the crowd’s cheering. Typical finance: celebrate first, ask questions later.
Green Candles After the Updates
The world’s largest cryptocurrency exchange expanded the list of trading choices on its futures program to enhance users’ experience. Specifically, it launched the FLOCK/USDT and SKY/USDT perpetual contracts with up to 75x leverage.
Unlike traditional futures, perpetual contracts have no expiry date and offer the potential for substantial gains. At the same time, they carry a high risk of liquidation if the market moves against the trader’s position. Both products will support the multi-assets mode, meaning that traders can use other cryptocurrencies like BTC as margin when dealing with the contracts.
Somewhat expected, the prices of the involved coins headed north after the disclosure. FLOCK (FLOCK) skyrocketed to a new all-time high of $0.66 before retracing to the current $0.41 (per CoinGecko’s data), representing a 55% increase on a daily scale.
Sky (SKY) posted a more modest increase of around 7% and as of this writing trades at approximately $0.07. The latest gains solidified its position among the top 100 cryptocurrencies as its current market capitalization stands at over $1.7 billion.
The Perfect Setup for FLOCK
It is important to note that Binance isn’t the only crypto exchange showing the thumbs up for FLOCK аs of late, which may explain why the token has posted more substantial gains than SKY.
Earlier this week, Coinbase added support for the asset on the Base network. It explained that trading will begin today “if liquidity conditions are met.” For its part, Upbit – South Korea’s biggest crypto exchange – announced the listing of the FLOCK/KRW pair. It will allow only deposits via the Base network, warning that large transactions from unclear sources may require proof of funds.
Backing from Binance and the other behemoths increases the asset’s liquidity, boosts its global availability and visibility, and has a positive effect on its reputation.
