The SatoshiVM (SAVM) token birthed a sense of bustle across the cryptocurrency universe on Monday, February 26, as the token noted a phenomenal pump in its value, per CoinMarketCap’s charts. This price rally, noted by SAVM, soon gained traction among crypto market traders and investors globally as it emerged amidst KuCoin’s plans to list the token.

KuCoin is a renowned cryptocurrency exchange that revealed plans to add the SAVM/USDT trading pair starting February 26 at 09:00 UTC. The withdrawals for the same will commence on February 27 at 10:00 UTC.

Insights by SpotonChain birthed additional inferences for SAVM’s price action ahead. The token traded primarily in the green as of press time, with its price surpassing the $5 mark today.

SAVM On-Chain Data Stirs Speculations

According to the data revealed by SpotonChain, a wallet likely belonging to the SatoshiVM team deposited a whopping 40K SAVM, worth $221K, to KuCoin today. This fueled speculations over the team’s motive for this transfer, orbiting around whether it was to supply liquidity or to sell the tokens subsequent to the listing.

Moreover, the fifth largest holder of SAVM bought an additional 22.5K tokens with 100K USDT, totaling its SAVM accumulation to 386K, worth $2.19 million. This whale currently illustrates signs of an unrealized profit of $922K, birthing speculations over massive dumps that push the SAVM price down.

However, as of press time, the token continued its upward momentum.

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SAVM Pumps

As of writing, the SAVM price noted an uptick of 41.32% over the past 24 hours and is currently trading at $5.66. While the token’s market cap remains unchanged at $38.99 million, per CoinMarketCap, its trading volume noted a phenomenal 360.51% surge, reaching $13.38 million.

KuCoin’s listing seems to have propelled market optimism for the token, as its price rallied substantially following the listing announcement. However, with massive SAVM whales observing the token’s recent pump, massive selloffs eyeing profits may result in a price action shift.

Meanwhile, according to the SatoshiVM community’s post on X, a new feature on the SatoshiVM Testnet is gearing up. This further showcases the community’s efforts to revolutionize the token’s cryptographic venture, garnering positive attention among crypto market participants.

Also Read: Ethereum Dencun Upgrade: Layer 2 DeFi Tokens Rally Begins, Mantle (MNT) Surges 20%

The post SAVM Price Soars Nearly 40% Amidst KuCoin’s Listing, What’s Next? appeared first on CoinGape.

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