While the larger crypto market is still struggling after the recent market crash, WhiteBIT Coin (WBT) has climbed to a new all-time high of $62.96. According to CoinGecko data, WBT’s price has rallied y 19.5% in the last 24 hours, 11.7% in the last week, 16.5% in the 14-day charts, 43.8% in the last month, and 173.3% since November 2024. WBT is currently the best-performing crypto among the top 100 projects by market cap. Let’s discuss why the coin is rallying today, and if its rally will continue.
What Pushed WhiteBIT Coin To an All-Time High?
WhiteBIT Coin’s (WBT) latest price surge comes after a strategic partnership with Durrah AlFodah Holding, a firm represented by His Royal Highness Prince Naif Bin Abdullah Bin Saud Bin Abdulaziz Al Saud. According to an official release, the partnership aims to “drive the Kingdom’s advancement in blockchain technology, digital finance, and data infrastructure.“
The partnership will include stock market tokenization, Central Bank Digital Currency (CBDC) initiatives, and national data computing and mining centers. WhiteBIT Coin (WBT) may see substantial adoption within Saudi Arabia over the coming months.
Given the general bearish market environment, there is a high probability that WhiteBIT Coin (WBT) will face a correction in the coming weeks. The crypto market is ripe with volatility, with Bitcoin (BTC) struggling to gain momentum. Major assets have faced substantial liquidations, and WBT may follow a similar trajectory. If not a correction, WhiteBIT Coin’s (WBT) price may enter a consolidation phase.
Also Read: Historical Data Shows Bitcoin Volatility Is a Feature, Not a Flaw
CoinCodex analysts also paint a bearish picture for WhiteBIT Coin (WBT). The platform anticipates the asset to dip to $45.57 by Nov. 29. Falling to $45.57 from current price levels will entail a correction of about 24.83%.
WhiteBIT Coin (WBT) could continue its rally if the larger market environment rebounds. Although the crypto market is showing signs of a recovery, volatility still runs deep.