Neiro on ETH (NEIRO) Sees a Dramatic Surge of Over 600% after Leading Crypto Exchange Binance Launched Its USD-margined Perpetual Contract.

The broader crypto market continued its massive decline yesterday as investors reacted to the mixed report relating to U.S. nonfarm payrolls.

Shiba Inu (SHIB) rival Neiro on ETH (NEIRO) experienced a dramatic surge of over 600% after leading crypto exchange Binance launched its USD-margined perpetual contract on Friday.

The broader crypto market continued its massive decline yesterday as investors reacted to the mixed report relating to U.S. nonfarm payrolls. Top crypto assets like Bitcoin (BTC), Ethereum (ETH), and Shiba Inu (SHIB) saw significant drawdowns of at least 3%.

However, Neiro on ETH, a popular memecoin characterized as Shiba Inu’s rival, experienced a massive price surge. NEIRO’s price spiked by over 100% to a daily high of $0.1805 shortly after Binance launched the NEIROETHUSDT perpetual contract. The contract, which went live yesterday at 14:00 UTC, offered traders up to 75x leverage.

The Binance news follows a similar update from prominent crypto exchange OKX, which also introduced NEIRO’s perpetual futures trading.

NEIRO Spikes Over 600%

Expectedly, NEIRO reacted positively to the news, as its price surged to $0.1805. This represents a remarkable surge of 678.68% from its lowest price of $0.02318, which was registered on September 3.

In the meantime, NEIRO’s price has retraced to $0.1723, showcasing a surge of 230% in the weekly charts. It bears mentioning that NEIRO witnessed this tremendous rally after news of the Binance listing went viral on social media.

NEIRO Becomes Most Tweeted Altcoin

This made NEIRO the most tweeted altcoin on September 6, according to data from on-chain analytics platform AltsDaddy.

According to the data, NEIRO outperformed other prominent altcoins, such as Floki Inu (FLOKI), Solana (SOL), Carbon Browser (CSIX), Velo (VELO), and Kaspa (KAS).

NEIRO also ranked among the top trending altcoins on crypto Twitter in the past week, as observed by another on-chain analytics platform, LunarCrush.

Together with NEIRO, Floki Inu (FLOKI), Solana (SOL), Carbon Browser (CSIX), Velo (VELO), Kaspa (KAS),PROPS, Land, Sundog, and Soon also made the list of the most tweeted altcoins.

Unknown Whale Purchases $3M Worth of NEIRO

Moreover, NEIRO’s listing on Binance and OKX attracted the attention of crypto whales, who scooped up huge amounts of the token.

One of these transactions, which were indexed by popular blockchain analytics platform Lookonchain, revealed that a whale splashed $3 million to purchase 17.5 million NEIRO. The whale, which is closely tracked by Lookonchain, made the purchase on Friday.

Data from Etherscan showed that the whale, which is known as "Unknown Whale" by Lookonchain, now holds over $5.4 million worth of digital assets, with NEIRO ranking as the largest position by dollar value.

The purchase also elevated the whale to become the largest individual NEIRO holder, according to Etherscan.