CTXC surges 25%, becomes top USDT trading pair on Binance
The native token of the Cortex blockchain, CTXC, gained bullish momentum as the asset became the top trading pair with USDT on the largest crypto exchange, Binance.
CTXC is up by 25% in the past 24 hours and is trading at $0.44 at the time of writing. The asset’s market cap rose to $94 million as its daily trading volume recorded a 131% surge, reaching $140 million.
Despite the recent surge, Cortex is still down by 82% from its all-time high of $2.4 on April 30, 2018.
According to an X post by DYOR.net, CTXC became the top trading pair with the largest stablecoin by market cap, USDT, on Binance.
Moreover, data provided by CoinMarketCap (CMC) shows that the majority of the Cortex trading volume comes from its USDT pair, surpassing $85 million. The second-largest volume comes from the CTXC/KRW pair on Bithumb, per CMC data.
However, the exact amounts of spot and futures trades are still not clear.
CMC data also shows that 98.8% of CTXC holdings are in whale wallets. When an asset is majorly impacted by whales, high volatility is usually expected.
According to data provided by Santiment, CTXC’s social volume soared by 500% over the past three days.
Despite the recent rise, Cortex’s development activity has been constantly declining since early July. Per Santiment, the platform’s development dropped by 78% fall over the past five months.
