Donald Trump’s win in the US presidential election triggered FOMO in the crypto market. Thus, the leading crypto Bitcoin reached an all-time high above $76,000. In addition, excitement is at its peak in the altcoin market. Especially positive news continues to soar the tokens. Leading crypto exchange Coinbase announced that it will list a token on the futures market. With the impact of this news, the token saw a strong increase.
Coinbase to launch RAY-PERP perpetual contract: Token skyrockets!
cryptokoin.comAs you follow from , the crypto market has gained strong momentum. In the midst of this positive atmosphere, the impact of positive news is high. Leading crypto exchange Coinbase will add support for Raydium Perpetual Futures on Coinbase International Exchange and Coinbase Pro. The exchange will open the RAY-PERP market on or after 12:30 AM ET on November 14, 2024. In this context, Coinbase made the following announcement:
CoinbaseIntExch will add support for Raydium perpetual futures on Coinbase International Exchange and Coinbase Advanced. The opening of our RAY-PERP market will begin on or after 14 November 2024 at 12:30 CET.
With the impact of the Coinbase list news, the token price skyrocketed. RAY price reached $5.05 from $3.71 during the day. At the time of writing, the altcoin was trading at $4.87, up nearly 31% on a daily basis. Meanwhile, RAY’s trading volume also saw a significant increase of 84%. This reflects the interest of investors and traders in the token.
RAY daily price chart. Source: CoinMarketCapTrump’s crypto policies boost market sentiment
Donald Trump frequently voiced his support for the cryptocurrency industry during the campaign. Accordingly, he promised to improve regulations. Trump’s promises include supporting the development of crypto-based financial products, loosening restrictions on digital assets and creating a national Bitcoin reserve. Meanwhile, most crypto users view Trump’s election victory as bullish for the industry. Additionally, discussions on social media platforms point to an increasingly bullish sentiment. Altcoin Buzz analyst notes that rising Fear of Missing Out (FOMO) is a major factor that could create a tailwind for the next bull run.
Some of Donald Trump’s campaign statements supporting the rise of Bitcoin include supporting US-based crypto mining, opposing the creation of a Central Bank Digital Currency (CBDC), and advocating for self-custodial rights for crypto users. Users consider Trump’s promises as a potential move to create a friendlier crypto environment.
