Voxies (VOXEL) Price Flies After Binance's BIG Announcement

Bittime - The price of the Voxies token (VOXEL) saw a sharp spike on August 20 after Binance, the world's largest cryptocurrency exchange, made a major announcement regarding Voxies. 

The VOXEL token, which is the utility token and in-game currency of free-to-play tactical game Voxie Tactics, rose more than 55% in the last 24 hours, reaching its highest level since mid-June.

Binance's Influence on VOXEL Price Increase

Source: TradingView

This surge in VOXEL prices occurred after Binance Futures announced the launch of the VOXEL (VOXELUSDT) futures contract. These futures contracts, which offer up to 50x leverage, began trading on August 20 at 10:30 UTC. 

This announcement also coincided with other news that Binance Futures also listed a Base meme coin called Brett, which also experienced a significant price increase on the same day.

Binance stated that these USD-based VOXEL futures contracts will have a maximum funding rate of +2.00% / -2.00% and will be settled in the USDT stablecoin. 

This news was greeted positively by investors, who immediately pushed the VOXEL price to its highest level. Previously trading below $0.14, VOXEL surged after Binance's announcement, peaking at $0.27. 

Although the price of this altcoin has seen a slight decline since then, VOXEL is still trading around $0.22, up more than 55% at the time of writing.

Also read: How to Buy Voxies (VOXEL)

Other Factors Driving VOXEL Price Increases

Apart from the announcement from Binance, the VOXEL price increase was also triggered by other important developments. 

On August 19, cryptocurrency exchange MEXC added trading support for the VOXEL/USDT pair, which also provided a boost to the token's price.

VOXEL also saw an increase of more than 94% in the past week, with bulls managing to recover most of the losses from its May low of $0.09. 

This significant increase on August 20 indicates that investors are again optimistic about VOXEL's long-term prospects, especially with support from large platforms such as Binance and MEXC.

Conclusion

Major announcements from Binance, including the launch of the VOXEL futures contract, have provided a significant boost to the price of the Voxies token. 

With additional support from exchanges like MEXC, VOXEL shows potential to continue attracting investor interest. 

Although the cryptocurrency market is known for its volatility, this latest development shows that VOXEL has strong momentum behind it. 

Investors interested in this project need to continue to monitor further developments and see how the market reacts to big news like this.

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To be able to buy crypto assets on 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 How to Buy Crypto on Bittime.

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