Binance's announcement led to a sharp rise in the price of DODO and YGG tokens
Binance's announcement led to a sharp rise in the price of DODO and YGG tokens
The value of DODO and YGG tokens surged after crypto exchange Binance announced that it would launch a perpetual USDⓈ-M DODO contract with up to 20x leverage.
Exactly one hour after the exchange's announcement, the price of the DODO token skyrocketed by 30%, with the YGG token also showing significant growth.
Binance's announcement of launch of a perpetual USDⓈ-M DODO contract with up to 20x leverage caused a stir in the cryptocurrency market, which led to an immediate increase in investor sentiment, according to Coincu.
Traders jumped at the unique opportunity to trade DODO tokens with such high leverage, as this leverage offer allows them to capitalize on price movements.
In addition, the participation of market maker DWF, which is known for its bold and aggressive trading strategies, has increased the interest of traders and investors in these tokens.
Experts in the cryptocurrency market have already stated that DWF's participation has contributed to the rise in the prices of DODO and YGG tokens.
Experts also warn that the sharp price spikes of YGG tokens highlight the influence of major exchange announcements on the shaping of market direction. In this regard, investors are advised to exercise extreme caution and make informed decisions based on a detailed analysis of the latest news and market trends.
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