On March 31, not only price movements but also stock market developments in the crypto market affected traders’ search for direction. While high leverage transactions stand out on the Ethereum (ETH) side throughout the day, there are listing and delist announcements from major platforms such as Binance and Huobi HTX.
ETH whales came forward with high-risk positions
Although the ETH price exceeded the $ 2,090 level with high volume during the day, it retreated in a short time. In this process, a wallet starting with 0x4ce opened a 9x leveraged long position at $2,063. He then added another 3,208 ETH at $2,043, making a purchase of approximately $6.55 million.
The total position size reached $13.68 million, while the average entry price was $2,052. The fact that the liquidation level was at 1,852 dollars and the collateral fell below 50 thousand dollars showed that the position had a very limited range of movement.
Another whale gradually increased his long position of 8,572 ETH (approximately $17.63 million) with 25x leverage. While the average entry remained at $2,039, the liquidation price rose to $2,046. This left a difference of only 0.48% between price and liquidation, pushing the position to the critical threshold.
Both new product and delist decision from Binance
One of the notable stock market developments of the day came from Binance. The platform announced that it has started accepting Tether Gold (XAUT) as collateral in Flexible Savings and VIP Loans products. This step pointed out that the usage area of gold-backed digital assets is expanding.
On the other hand, Binance announced that it will remove some trading pairs from the platform as of April 2 at 11:00 ET. The pairs to be delisted are listed as follows: ALT/BNB, ARB/TUSD, BNB/ARS, GALA/ETH, INJ/BNB, SOLV/FDUSD and XRP/TUSD. Such decisions are generally associated with a decrease in liquidity and volume in the relevant parities.
Huobi HTX EDGE announces listing schedule
Huobi HTX shared the listing process for EDGE token in detail. Accordingly, deposit transactions were opened as of March 31, 15:00 (GMT+8). EDGE/USDT spot transactions will start at 20:30 on the same day, while withdrawal transactions will be active at 20:30 on April 1.
It is stated that the EdgeX infrastructure behind the EDGE project offers a transaction delay of less than 10 milliseconds and has reached a transaction volume of over 800 billion dollars to date. It is also noteworthy that the platform has more than 300 thousand users.
Altcoin transfers and listing effects were reflected in prices
On-chain activity increased after Upbit opened the SKY/KRW trading pair. A wallet withdrew 31.45 million SKY from the staking contract and moved it to Binance. This transfer, valued at approximately $2.46 million, indicated possible post-listing sales pressure. It is noteworthy that while the transaction price was at $ 0.078, the current price decreased to $ 0.072.
On the other hand, market expectations increased for Predict.Fun after the Binance Wallet integration. In the prediction markets, the probability of the project’s valuation to exceed 50 million dollars in a short time was priced at 96%, while for 100 million dollars, this rate was measured at 83%.
