In a hurricane of breakthroughs witnessed recently, Binance, the world’s leading cryptocurrency exchange, announced plans to list the Dymension (DYM) token starting February 6 at 15:00 UTC. As per Binance’s statement, the cryptocurrency exchange will list the DYM token with new spot trading pairs DYM/BTC, DYM/USDT, DYM/FDUSD, and DYM/TRY, amassing substantial attention globally.

Meanwhile, Dymension, a platform empowering RollApps, also announced plans to launch its mainnet shortly ahead. This further aligns with Binance’s recent listing announcement, piquing crypto market traders’ and investors’ interest globally.

A Closer Look Into The Report

According to Binance’s statement, users can now start depositing DYM on the platform, readying themselves for the commencement of trading. Moreover, withdrawals for the same will open on February 7 at 15:00 UTC.

Intriguingly, Binance set the listing fee at 0 BNB, further showcasing efforts to jack up the token’s listing. In addition, the exchange also applied the seed tag next to the token, cautioning users of high volatility and risks revolving around the digital asset.

In the interim, the Dymension community appears to have marked a cascade of advancements, as seen in a recent post by their handle on X. Notably, the Dymension mainnet launch is imminent, with no claiming process. Aligning with this, DYM will be offered to the provided Genesis Rolldrop address on the Dymension blockchain.

Simultaneously, according to Dymension’s data, the total amount of DYM bridged to RollApps totaled 12.41 million DYM as of press time, with a roughly 6% increase over the past week. This further illustrated the burgeoning popularity of the project, mirroring Binance’s listing announcement.

However, as the token’s listing nears, crypto market enthusiasts appear to be extensively eyeing DYM, as Binance’s recent listing chronicles appear to have significantly impacted a token’s price action.

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Will Dymension Price Rally?

The data offered by CoinMarketCap portrays that the token’s base price set ahead of its listing is $4. However, as the listing looms, additional inferences for the token appear to be birthing.

As seen in a recent report by CoinGape Media, the Ronin network’s native token saw a notable 20% drop in its price promptly after the listing. While on the other hand, as of late last year, following Binance’s listing of the Blur token, the crypto’s price rallied, garnering attention across the crypto realm.

It is important to note that past performances do not always guarantee a token’s run in the future, and investors should remain cautious of the volatility within the broader crypto market. Besides, as the DYM listing nears, traders and investors expect to see significant price action shifts in DYM ahead.

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The post Binance Unveils Dymension (DYM) Listing, Will Price Rally? appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am