A crypto trader made over $500K in profit in about 30 minutes by trading Thena ($THE) tokens. This comes on the heels of the Binance listing, which sent the asset on an uphill climb. Thena claims to be an innovative decentralized liquidity layer deployed on the BNB network and has garnered steam this week.
The trader used 698 BNB worth approximately $429K to purchase 416,897 $THE. As a result of the price rally, the asset soared in value to over $1 million, making the trader net a whopping $596K. This 196% growth in a short period sparked positive conversations within the community on the state of bull cycles.
Crypto users pointed to the importance of alerts for centralized exchange listings to stay ahead of others in the market. Recently, the industry has recorded several token moves, resulting in high profits. Meme coins make up most of these assets due to their high volatility and community traction upon launch.
Binance Listing Sends $THE To Impressive Heights
Binance listings were at the center of the surge, and profits were made by several traders. Within 24 hours, the asset surged to a $233 million market cap as bulls set gaze for gains. The exchange also announced airdrops for users interacting with the Simple Earn product.
Analysts posit that the listings will enable the asset to reach its potential, achieving a wider adoption with a better shot at strategic partnerships. X user @cryptokaduna wrote:
“Yesterday CZ tweeted: “I am not against memes, but meme coins are getting “a little” weird now. Let’s build real applications using blockchain. Then Binance listed $THE (a project on BSC). Will they continue to list more real applications on BSC? It seems like people are betting on $NMT.”
Crypto Bulls Maintain Pressure
Despite the price correction recorded earlier this week, a bullish presence in the market has taken the prices of assets upwards. This trajectory has seen Bitcoin price hit $96,470, a 5% rise in the last 24 hours. Similarly, altcoins such as Ethereum and Solana gained 9% and 4.4% respectively with ETF flows notching high spikes.
General sentiment begins to flip green as experts project more highs before the cycle fades. Macroeconomic facts in the United States also recharged participants. Donald Trump’s pro-crypto nominees will clear up uncertainties in the market, triggering an influx of traditional investors.