Bittime – MYRO , a memecoin based on the Solana blockchain , is in the spotlight after Binance Futures , Binance's crypto derivatives trading platform , announced plans to list the coin. This announcement triggered a significant increase in MYRO prices by 43%.
According to the announcement released today, MYRO will be present on the Binance Futures platform with USDT as a settlement asset.
MYRO will be traded using perpetual contracts, allowing traders to trade with no expiration time limit.
Apart from that, users can also take advantage of leverage of up to 50x. MYROUSDT started trading on Binance Futures at 08:30 UTC.
Along with MYRO, Binance Futures also announced the listing of another memecoin, PEPE. PEPE will be traded using a 1000PEPEUSDC perpetual contract with USDC as the settlement asset and will begin listing on Binance Futures on March 7.
Myro: Solana Dog Memecoin
MYRO, named after Solana co-founder Ray Gokal's pet dog, was born from Solana users' desire to own a dog-themed memecoin in a proof-of-stake (PoS) ecosystem. Other blockchains such as Ethereum have a number of popular dog-themed memecoins, such as Dogecoin and Shiba Inu.
MYRO was previously registered on various crypto exchanges such as Kucoin. This memecoin is also available on decentralized exchanges such as Jupiter and Raydium.
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MYRO Price Increase After Listing Announcement
Binance's announcement to include MYRO, the value of the memecoin soared sharply. Less than two hours after the announcement was published, MYRO's price shot to around $0.3, which is an all-time high for the memecoin that launched late last year.
At the time of writing, MYRO is trading at around $0.27, up 43% in the last 24 hours and surging a fantastic 255% in the last seven days.
MYRO's market capitalization also increased. With a market capitalization of over $271 million, MYRO currently ranks as the 11th largest memecoin in the crypto market.
Also read: Meme coins Solana, PEPE and MYRO, make a splash with listing on Binance Futures
MYRO Price Increase Factors After Listing Announcement
The increase in the price of memecoins like Myro after listing on Binance Futures could be influenced by the following factors:
1. Increased Liquidity
Listing on Binance Futures can increase Myro's liquidity, because it provides access to traders from various parts of the world. Higher liquidity can support price increases as traders can easily buy and sell Myro without any hassle.
2. Increased Investor Interest
Listings on Binance Futures often attract attention from larger institutional and individual investors. Myro's presence on a leading trading platform like Binance Futures could expand market share and attract new interest, which in turn could drive prices up.
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3. Trust and Reputation
Binance is one of the world's leading crypto trading platforms with a strong reputation. Listing on Binance Futures could provide additional legitimacy to Myro in the eyes of investors and traders, which could drive the price up due to increased confidence.
4. Increased Trading Volume
By listing on Binance Futures, Myro's trading volume could increase significantly. High trading volume can be a catalyst for price increases because increased trading activity can create positive momentum.
5. Promotion and Support
Binance often provides additional promotions and support for newly listed crypto assets.
This could include promotions on the Binance platform, advertising campaigns, and other marketing support that could increase awareness and interest in Myro, which in turn could drive price increases.
How to Buy Myro (MYRO) on Bittime
You can buy and sell Myro (MYRO) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Myro (MYRO) is available on Bittime with the market pair MYRO/IDR . To be able to buy MYRO IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Myro (MYRO) on Bittime .
Monitor the price chart movements of Myro (MYRO) , Bitcoin (BTC), Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER : This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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