ARK coin has seen a remarkable surge in price over the last 7 days, with gains of over 130%. This massive rally comes on the heels of several major exchange listings for the cryptocurrency.
Most notably, Binance Exchange added ARK futures trading earlier this week. This new listing allows traders to go long or short on ARK with leverage using USDT pairs. Other exchanges like BingX and OrangeX have also added ARK trading pairs, further boosting liquidity.
As a result of these new listings, ARK quickly became a top trending currency on CoinMarketCap. On Tuesday, Ark was the biggest gainer of the day among the top 200 cryptocurrencies by market cap, rising over 15% in 24 hours. The coin is currently trading around the $0.7 mark.
However, some analysts warn that investors should be cautious, pointing to examples like HIFI which dropped 70% the day after its Binance futures listing. So while ARK’s price action has been extremely bullish lately, the sustainability of these gains remains to be seen.
What is ARK?
ARK is a cryptocurrency and blockchain platform that allows anyone to create fully customizable and interoperable blockchains. The project aims to reduce the need for smart contracts by using custom transactions, logic, and multiple programming languages.
ARK was founded in 2016 and held a token exchange campaign that year, raising $800k. With solid financial planning, the team has been well-funded since inception. The ARK public network went live in March 2017, hosting the native ARK crypto asset.
The ARK ecosystem consists of an open-source technology stack in TypeScript. The public network acts as a live implementation, with node operators as delegates. There are also standalone blockchains on ARK, businesses building on the technology, and a community of users, developers, and providers.
