On Friday, Binance, the largest cryptocurrency exchange in the world, released an announcement regarding Berachain token and with that, a increase in price for Berachain BERA was noted. The exchange is deepening market support by providing new trading options
For the recently launched asset, all the while ensuring that investor confidence remains high through the price boost of 630%. With this increase in support, traders expect a rise in price despite volatility in the market since the token is now gaining increased focus in the crypto market.
Berachain Price Surges Amid Binance Support
The listing of cryptocurrencies on various platforms tends to cause positive reactions from the market because they are likely to earn a lot of money due to the number of users on the exchange.
This is so, and traders yet feel so positive as the announcement around Berachain (BERA) by Binance further integrating it into various features augments. The token is now supposed to be used in Simple Earn, Buy crypto, Convert, Margin, Auto Invest, and even Futures trading.
This change is set to BERA trading more active and will help to drive the growth of BERA popularity among other market participants. As a result, in the coming days there are some strong supporters who think BERA will advance in price.
BERA simple earn flexible products were launched for the token on February 6 at 13:00 UTC, and then on February 7 at 10:00 UTC, users will be able to purchase BERA through any accepted payment method on Auto Invest.
Moreover, in the first hour of listing, Binance users can purchase BERA through VISA, MasterCard, Google Pay, Apple Pay and Revolut, or even use the balance in their accounts, on the Buy Crypto page.
At the same time, trading settles against BTC, USDT, and other assets on Convert. Trade against BTC, USDT, and the other assets on Convert can be done within the first hour of the listing.
In addition, trading on margin on Cross and Isolated will be enabled on the 6th of February at 16:00 UTC. The set of new products includes BERA perpetual contracts with margin in USD, where traders can enter with leverage up to 75x in BERA perpetual contracts futures.
BERA’s market exposure is growing rapidly with these extensive offerings, which can lead to higher price growth with increased liquidity from investors.
Crypto Traders’ Moves Fuel Market Speculation
The market witnessed a different approach to trading with whales taking trading to another level. A crypto whale captured the spotlight for earning a profit of $589,000 while opening a short position immediately after Berachain was listed.
A research firm, Lookonchain said that the trader funded Hyperliquid by depositing 1.6 million USDC and took a short position in BERA at $13. Later on, the whale withdrew 2.19 million USDC while closing the position.
As per the latest data BERA has seen a dip of 16% as BERA’s price volatility increased. The factors that aided in this short position being closed indicates that there might be a cap on the pressure after that position is sustained.
Additionally another whale started placing their bets on BERA tokens. They funded Hyperliquid with 2.5 million USDC and went long on BERA token. This has led to market speculation, however with Binance now listed, there is positive market sentiment which is a good thing.
CoinGape has stated in the past that Berachain’s listing of the token with airdrop created quite some buzz in the crypto community making the assets more popular.
BERA Price Skyshots 630%
Berachain recently reached trading at $7.705, which is a whopping 630% increase since the launch, with the token pricing ranging between an intraday low of $1.00 and a high of $14.99.
This rise is mainly caused by strong support from Binance and the recent exchange listings which helped in boosting the market sentiment. Famous traders have been quick to respond which was evident in a staggering volume increase of 165,895.91% in intraday trading, which reached $2.86 billion.
Regardless of how the market performs, BERA is gaining consistent interest from investors, and traders, which helps fuel the potential expectation in price gain.
