Bittime –Avalanche (AVAX) jumped 12% today, driven by positive market sentiment following a strategic announcement fromBinance,crypto trading platform.
This significant price increase shows investors' increasingly strong confidence in AVAX along with the support provided by Binance.
Highly Leveraged AVAX Perpetual Contract on Binance Futures
The recent increase in AVAX prices has attracted the attention of crypto players. According to analysts, Binance's latest move is the main driving factor for this positive momentum.
Binance announced the launch of USDC-margined AVAX Perpetual Contracts on their Futures platform. This contract will become active on March 20, 2024, at 07:00 (UTC).
This contract offers up to 75x leverage, aiming to improve trading options and user experience on Binance Futures.
Additionally, users can enjoy a 10% trading fee discount until April 3, 2024 (UTC) for all USDC-margined Perpetual Contract trades.
The Multi-Assets Mode feature allows trading with multiple margin assets, providing flexibility for users.
The launch of AVAX Perpetual Contracts reflects Binance's strategic commitment to expanding its offerings and meeting evolving user needs.
By providing AVAX trading access with better leverage options, Binance aims to stimulate trading activity and increase market liquidity for AVAX.
This move not only strengthens Binance's position as a leading crypto trading platform, but also shows their support for promising projects like Avalanche.
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Impact on Prices and Market Sentiment
Binance's support through the introduction of the AVAX Perpetual Contract signals their confidence in Avalanche's potential. The AVAX price increase following this announcement indicates increased investor interest and positive market sentiment.
With access to AVAX trading with higher leverage, demand for AVAX is expected to further increase, potentially pushing its price higher.
The price of Avalanche has become the attention of investors recently, as evidenced by the price increase of around 35%. It is worth noting that the recent expansion of the Avalanche Foundation's board has also helped improve market sentiment.
At the time of writing, Avalanche price was up 11.73% to $59.74, with trading volume relatively stagnant at $1.93 billion. In the last 24 hours, AVAX reached its highest price of $62.27 and overall experienced a monthly increase of around 50%.
Analysis and Warning: High Leverage Brings High Risk
While Binance's announcement is welcome news for AVAX holders, it is important to remember that the high leverage offered in the AVAX Perpetual Contract could backfire.
Leverage, while tempting because of its potential to increase profits, can also significantly magnify losses. AVAX's rapid price fluctuations can cause investors to lose their entire capital if they use leverage carelessly.
Therefore, it is recommended that only experienced investors use this leverage feature. Beginner investors should properly understand the risks involved before using AVAX Perpetual Contracts with high leverage.
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Conclusion: AVAX Headed for a Bright Future?
Binance's announcement and recent AVAX price increase are positive signals for Avalanche's future. Support from a leading crypto trading platform like Binance could attract new investors and increase wider adoption of AVAX.
Additionally, the Avalanche ecosystem itself continues to grow rapidly, with new DeFi and dApp projects emerging on the platform.
However, investors still need to be alert to potential price corrections in the future. The crypto market is known for its high volatility, and the price of AVAX could fall drastically even though it is in a bullish trend.
In-depth research and analysis is required before investing in AVAX or other crypto. Investors must consider the fundamental and technical factors of a project before making an investment decision.
By continuing to innovate and build a strong ecosystem, Avalanche has the opportunity to continue to grow and achieve success in the future. However, it is important to always be careful and manage risks wisely when investing in crypto.
How to Buy Avalanche (AVAX) on Bittime
You can buy and sell Avalanche (AVAX) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Avalanche (AVAX) is available on Bittime with the market pair AVAX/IDR . To be able to buy AVAX 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 Avalanche (AVAX) on Bittime .
Monitor the price chart movements of Avalanche (AVAX) , 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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