WBT, the utility token of crypto exchange WhiteBIT, became the top-performing asset on June 16, rallying past Toncoin and Shiba Inu just hours after the exchange announced a major partnership with a popular European football club.
According to data from crypto.news, WhiteBIT Coin (WBT) surged 32% intraday, forming a sharp breakout candle often referred to as a “god candle,” and reached a new all-time high of $52.27. The rally pushed its year-to-date gains above 110%.
With a market cap of $7.43 billion, WBT has overtaken Toncoin (TON) and Shiba Inu (SHIB) to become the 21st-largest cryptocurrency in the market.
The primary catalyst behind the surge was WhiteBIT’s announcement of an exclusive partnership with Juventus, one of Europe’s most iconic football clubs. The deal includes WhiteBIT’s logo being featured on Juventus’ official matchday jerseys, significantly increasing the exchange’s brand visibility across global sports audiences.
Such high-profile sponsorships often drive both user adoption and institutional interest, contributing to increased investor confidence.
That trend appears to be playing out already. On-chain data shows that daily active addresses on Whitechain have surged by 182% over the past two days, which is a sign that user engagement is rising alongside investor interest, which could help sustain the rally.
This is particularly relevant for WBT, which serves as the core utility token of the WhiteBIT ecosystem. It powers transactions on Whitechain and unlocks benefits such as trading fee discounts and enhanced platform privileges. As activity across the network increases, so does demand for WBT.
WBT price analysis
On the daily chart, WBT has broken out above an ascending trendline that has been intact since November of last year, confirming a potential continuation of the bullish trend.
Key momentum indicators, including the MACD and price oscillators, have shifted decisively upward, indicating growing strength in the ongoing uptrend.
The Chaikin Money Flow index also supports this bullish outlook, with a positive reading of 0.53, suggesting sustained capital inflows and accumulation by investors.
Looking ahead, WBT is likely to test the next major psychological resistance level at $55 if bullish momentum holds
However, short-term caution is warranted. The Relative Strength Index currently sits near 93, an extreme overbought level that typically precedes local corrections, increasing the risk of short-term volatility.
Yet, persistent demand from traders and growing ecosystem engagement can temper any immediate downside risk during uptrends.
As of press time, WBT has shed some of its earlier gains as it dipped 1.24% to $51.62.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
