Crypto analytics platform Lookonchain shared that Binance exchange’s listing of Radiant Capital (RDNT) caused the altcoin price to rise 20.5%. According to the post, a Smart Money trader made a huge profit in a short time from the listing announcement. The price of RDNT is currently up more than 25% in the last 24 hours.
Binance listing blows RDNT, pockets full!
Analytics platform Lookonchain tweeted today that Binance, the largest crypto exchange by trading volume, recently listed Radiant Capital (RDNT), causing the altcoin price to rise 20.5% in a short time. According to the tweet, a SmartMoney trader made $29.3k in 5 minutes just by buying and selling RDNT.
Also, Lookonchain’s latest thread shared that the trader purchased 431,470 RDNT with 150k Tether USD (USDT) today. This happened within a minute of announcing that the token was listed within Binance. The trader sold his holdings for 179.3K USDT after the price of the altcoin soared.
Altcoin price performance
cryptocoin.com As reported by CoinMarketCap, the price of RDNT rose by more than 25% on the day to as high as $0.4491, according to data from CoinMarketCap. The altcoin also strengthened by 23.20% and 26.47%, respectively, against the two crypto market leaders, Bitcoin (BTC) and Ethereum (ETH). However, the altcoin later lost altitude and dropped back to its press time price of $0.3762. At press time, the daily trading volume for RDNT is estimated at $173,027,046. This corresponds to a phenomenal 421% increase in the altcoin’s daily trading volume over the past 24 hours.
Crypto analyst Steven Walgenbach points out the following technical levels for RDNT. The price of RDNT is currently in an uptrend after hitting higher lows over the past 2 weeks. Binance’s listing announcement caused the price of the token to surpass the $0.3569 resistance level to trade at its current level.
However, traders and early investors are putting some selling pressure on the price of RDNT, as evidenced by the wick above today’s daily candle. If this selling pressure turns out to be too much for the RDNT bulls, the altcoin’s price could drop to the aforementioned price level of $0.3569 in the next 24 hours. On the other hand, bulls that continue to provide support for the altcoin’s price may see the altcoin see the resistance level around $0.4754.
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