ATOM spikes on Binance listing announcement and dumps upon trading

On Sunday 28th Apr, Binance announced that they will be listing ATOM and will open trading for ATOM/BNB, ATOM/BTC and ATOM/USDT trading pairs at 2019/04/29 4:00 AM (UTC).

Listing announcement vs Trade opening

The listing announcement sent ATOM price spiking over +46% to $5.06 USD before retracing as the trade opening of ATOM got closer. It is currently sitting at $3.92 USD since trading opened. Even so, that's a whopping 39x gains for ICO participants (ICO price = $0.10 USD).

Here's a quick look at how the crowd reaction switched from high price targets to "ATOM is rekt".

Crowd reaction upon Binance listing announcement
Crowd reaction post-trade open

Also, interesting to note that the amount of ATOMs on Poloniex's sell order book has increased by another 300,000 ++ ATOMs. It also has a large sell wall (142 BTC) blocking out 74k sats.

Sell pressure intensifies

Thanks for reading!

If you enjoyed this insight please leave a like, join discussion in the comments and share it with your friends!


Conversations (0)

No comments yet
Be the first to comment