Is this the strongest Airdrop of the round? Even Binance can't resist joining the contract, and the little grass experiences a big pump of 187% in seven days!

$GRASS had a big pump of 187% in a week, and the Airdrop effect ignited the market

During the past week, the $GRASS Token in the Solana ecosystem experienced a big pump of 187.99%, making it one of the most followed assets in the market. This astonishing surge was fueled by the market frenzy triggered by its Airdrop campaign, along with the recent all-time high of BTC, which together drove the market demand for $GRASS. With the announcement of $GRASS Perptual Futures with leverage of up to 75x by Binance yesterday (11/8), this positive news continues to bring significant buying momentum to $GRASS, driving its price surge.

Click here to register, and watch the "GrassAirdrop Season 2 Mining Tutorial" organized by "encryption City" for everyone.

Chart Source: TradingView $GRASS has been rising steadily since the airdrop, with a weekly increase of 187%.

Gate.io launches 75x leveraged contracts, adding to the $GRASS trading frenzy

Binance announced the addition of Perptual Futures for $GRASS/USDT, DRIFT/USDT, and SWELL/USDT, with leverage of up to 75x. This move undoubtedly further fueled the trading frenzy for $GRASS. According to Binance's announcement, the $GRASS/USDT contract officially launched at 15:30 UTC, immediately attracting a significant volume and driving a 14% increase in $GRASS on the same day. In addition, this contract launch includes a funding rate mechanism for Settlement every four hours (+2.00%/-2.00%), designed specifically for high leverage traders, allowing them to participate in trading using diversified leverage tools.

Binance has also launched a multi-asset mode, allowing users to use various assets such as BTC as Margin to flexibly respond to market fluctuations. Through these innovative options, Binance has expanded users' operating space in the derivatives market, making $GRASS more attractive and driving continuous rise in overall volume.

RSI index is high, experts remind to invest cautiously

Although the price of $GRASS continues to rise, the technical indicator shows that its RSI value has reached 71.8, in the Overbought zone, indicating a potential short-term pullback risk in the market. Technical Analysis shows that the price of $GRASS is significantly above the Ichimoku cloud chart, indicating strong long positions momentum. However, if the price falls to the support level of about $2.9 at the upper edge of the cloud chart, a price pullback of 28.5% may occur.

Image source: BeInCrypto $GRASS's price is significantly higher than the Ichimoku cloud chart, indicating strong bullish momentum

However, if BTC maintains its strong rise trend and is further pressured by buying on the Binance Futures platform, the long positions trend of $GRASS may continue, with a potential breakthrough of $4. However, market observers warn investors that the continuous upward momentum may also bring hidden concerns of market overheating. It is recommended to plan risk management properly and avoid blindly chasing rising prices at high levels.

Long-term investors hold their holdings steadily. Is it a short-term pullback or a good entry point for $GRASS?

Recent data shows that the cumulative pledge amount of $GRASS has remained stable at 21.04 million tokens, indicating investors' long-term confidence in the token. With most pledgers locking their positions, the circulating supply in the market decreases, which will further support price stability. However, short-term price fluctuations may also pose greater risks, especially for short-term traders chasing high leverage.

In the face of the market's continued high volatility, experts suggest that investors take advantage of the short-term pullback to observe market trends and adjust trading strategies flexibly. As the market continues to heat up, whether this wave of Airdrop by $GRASS can continue remains to be seen, but undoubtedly its recent astonishing performance has become the focus of market attention.

[Disclaimer] The market is risky, and investment needs to be cautious. This article does not constitute investment advice. Users should consider whether any opinions, perspectives, or conclusions in this article are suitable for their specific situation. Invest at your own risk.