Grass Token (GRASS) Surges to $1.14 Amid Tier-1 Exchange Listing Expectations

Grass token continued its strong rally, reaching its highest level since its airdrop on Monday, Oct. 28.

Grass (GRASS) price rose to $1.14 on Monday, its highest level since air distribution, and its fully diluted valuation exceeded $1 billion. This aerial deployment was quite successful compared to other aerial deployments such as Wormhole (W), ZkSync (ZK) and Hamster Kombat (HMSTR).

According to those stated, the likely reason for this rapid rise is traders' expectations for top-tier stock exchange listings. Currently, most transactions occur on exchanges such as Gate, HTX and Bybit. With increasing volumes, there is a possibility that platforms such as Binance and Coinbase will list the token.

Also, the price of Grass increased as futures open interest continued to rise. Data from CoinGlass shows that interest has reached approximately $50 million, primarily from Bybit and OKX.

Futures open interest is an important metric that indicates the number of contracts still open or outstanding at the end of a day and is often used to measure market liquidity and activity.

Finally, Grass price movements also reflect market sentiment, with the crypto fear and greed index reaching the greed level of 66. According to analysts' expectations, it is stated that this index may rise further if Bitcoin makes a strong bullish rise.

Data from Dune shows that w.5 of all Grass tokens, or 61 million tokens, have been claimed by more than 1.6 million claimants. 0 of those who requested the tokens staked them, indicating that they do not plan to sell, unlike other tokens that sell quickly after air distribution.

On the other hand, there is a risk of a sharp reversal for Grass, given that price movements after air distributions generally do not last long.

Technically, the token has formed a double-top formation, which is another sign that often indicates bear market reversals. As a result, the token could fall and retest key support at $0.80, which is the October 30 low and the neckline of this formation.

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