In Binance futures, the volumes of cryptocurrencies with low market caps exceeded $ 300 million.
The cryptocurrency market has been showing very weak activity lately. The lack of volatility on the Bitcoin and Ethereum side is also reflected on the altcoins side. While Bitcoin shows a weak appearance, there are large money outflows in altcoins.
Amid the unfavorable market conditions, low market cap crypto projects are blowing in Binance futures. Coins such as AMB, API3, TRB and UNFI exceeded $300 million in futures volume.
“Low market cap” crypto headwind in Binance futures
Binance made a new move on the futures side, listing cryptocurrencies with low market capitalization. Nowadays, when there is a lack of liquidity and money inflows are at a minimum, the inclusion of cryptocurrencies like “shitcoin” in futures has attracted attention. While many altcoins were expected to be delisted, their sudden listing in futures also drew the reaction of investors.
But Binance’s move has been successful in terms of volume. Cryptocurrencies with low market caps have reached volumes of hundreds of millions of dollars in futures.
The most notable cryptocurrencies on the futures side were AMB, API3, TRB and UNFI. Months ago, it was on the agenda that these cryptocurrencies could be delisted at any time. However, they are getting volume on Binance futures these days.
API3 has reached a volume of $ 650 million in the last 24 hours on the futures side. API3, which has a market value of close to $85 million, has attracted attention with its 25% rise in recent days. However, the biggest impact of the rise in API3 was futures.
TRB was one of the ones that showed a rise in the market as much as API3. TRB is among Binance’s lowest level projects with a market capitalization of $22 million. However, TRB reached a volume of $ 400 million in the last 24 hours in futures. TRB has increased by 64 percent in recent days.
On the other hand, there was a strong rise in the ECB. The ECB experienced an increase of nearly 60 percent. However, after a short time, he experienced a similar retreat. In this case, which is mirrored as Pump and Dump, the volume of ECB has exceeded $ 500 million in the last 24 hours. The market value of the ECB is around 11 million dollars.
Finally, the rise experienced on the UNFI side was also on the agenda. UNFI has increased by nearly 25 percent in recent days. With a market capitalization of $31 million, UNFI has reached a volume of more than $350 million in the last 24 hours. Rising with the effect of futures, the crypto money became one of the last cryptocurrencies to reach the volume of hundreds of millions of dollars.
The continuous rise and subsequent decline scenarios of cryptocurrencies with low market capitalization can be shown as one of the exchanges’ efforts to create liquidity. On the other hand, market makers or whales of these cryptocurrencies may also be trying to create volume.
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