FIDA and MEW Tokens See Surge Following Major Listings on Binance and Upbit

FIDA and MEW Tokens See Surge Following Major Listings on Binance and Upbit

Solana-based cryptocurrencies, FIDA and MEW, experienced a significant boost in market sentiment on Thursday after securing key exchange listings. Solana Name Service (FIDA) was listed on Binance, while cat in a dogs world (MEW) was added to Upbit’s trading platform. These developments have attracted global attention, driving the tokens’ prices up by 25-30% following the announcements.

Major Listings Drive FIDA and MEW Momentum

According to official statements released on September 19, both tokens were scheduled to be listed on their respective platforms the same day. Binance announced that it would launch FIDAUSDT, a USD-Margined perpetual contract, at 12:30 UTC. Meanwhile, Upbit disclosed that MEW would be paired with both BTC and USDT for trading.

Notably, Binance introduced FIDA with leverage options of up to 75x, allowing traders to amplify their positions. Additionally, the exchange set the funding rate cap for FIDA futures at +2.00% / -2.00%.

At the same time, Upbit Korea added MEW to its BTC and USDT markets, with support for transactions starting immediately. The listings have sparked optimism among traders, fueling expectations of increased liquidity and potential future growth for both tokens.

Price Surge Follows Listings

Following the listing announcements, FIDA saw an impressive 45% price increase, climbing to $0.3243. The token’s intraday trading range spanned from a low of $0.2204 to a high of $0.3297.

Similarly, MEW experienced a 26% price jump, reaching $0.00533. Its 24-hour low and high were recorded at $0.00407 and $0.005728, respectively.

These price movements align with the typical pattern observed when tokens secure major exchange listings. Previous examples include Kadena (KDA), which surged 30% following its Binance futures listing, as reported by CoinGape Media. Likewise, PEPE and BRETT tokens saw notable price increases after being listed on Upbit.

Optimism Grows Around Solana-Based Tokens

In addition to the price rallies, MEW’s futures open interest (OI) surged by 82%, reaching $76.31 million, according to data from Coinglass. The coin’s derivatives volume also spiked by 531%, hitting $735.63 million in a single day, further fueling bullish sentiment around the token.

Solana (SOL) itself experienced an 8% rise in price, trading at $140, adding to the positive market outlook for Solana-based assets.

In conclusion, the FIDA and MEW listings on Binance and Upbit have not only led to sharp price increases but also fostered optimism about the future growth potential of these Solana ecosystem tokens.