• SANTOS Crypto secured a Binance Futures listing.
• The token’s price climbed to a 7-month high post-announcement, but risks remain.

Investor enthusiasm surged for Santos FC Fan Token [SANTOS] on the 28th of October, as it saw intraday gains that exceeded 100% after a major listing announcement. 

Binance expanded its futures trading options by launching the SANTOSUSDT Perpetual Contract on Binance Futures, offering up to 75x leverage. It went live, providing token holders a new avenue for trading.

For those unfamiliar, the Santos Token is a fan token dedicated to the Brazilian football club Santos FC.

It was created in collaboration with Binance’s Fan Token platform. 

SANTOS’ price performance

The listing propelled SANTOS to a high of $8.3, its highest price since late March. At the time of writing, the price settled at $5.1.

According to CoinMarketCap, this marked a daily gain of over 50% for the coin. 

Furthermore, in the past 24 hours, trading volume surged by 5000%, reflecting a substantial influx of activity and investor interest. 

This uptick contributed to the token’s market cap climbing to $29.05 million, an approximate 60% increase.

Is a pullback near? 

To analyze the SANTOS crypto’s prospects, AMBCrypto delved deeper into its daily chart. The analysis revealed that the Relative Strength Index (RSI) reached 77.72, placing it firmly in overbought territory. 

This elevated RSI level typically signals tha

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Author: Kamina Gilani