WhiteBIT Coin (WBT) Surges Despite market Turmoil
WhiteBIT Coin (WBT), the utility token of the WhiteBIT crypto exchange, has become the standout performer today. It defied the broader bearish market trend caused by Israel’s attack on Iran. According to crypto.news, WBT reached a new all-time high of $34.3 on June 13, during Asian trading hours. Its price has since settled at $33.67, with a market cap of $4.85 billion, ranking it 33rd among top cryptocurrencies.
While Bitcoin and other major altcoins saw losses between 5%-10%,WBT retained its gains.The broader crypto market suffered due to the geopolitical tensions, with liquidations soaring to $1.2 billion.
Why is WBT performing so well? A key factor is the announcement of a spot listing for the HOME token, which powers the DeFi App platform. WhiteBIT also added a HOME-PERP pair to its futures section, attracting more traders. An upcoming partnership with a european football club has also piqued investor interest.
- On-chain data shows a 580% increase in daily active addresses.
- Santiment reported a rise in whale accumulation, indicating confidence in WBT’s long-term potential.
WBT’s price analysis on the 1-day USDT chart shows an ascending broadening wedge pattern since May, signaling increasing volatility within an uptrend. If this momentum continues, WBT could reach $35 and potentially $38. However, if market sentiment weakens, support levels around $31 could be crucial.
