WhiteBIT’s native token, WBT, surged more than 20% in the last 24 hours, reaching a new all-time high after the exchange announced a major expansion into Saudi Arabia. The news has fueled strong investor optimism and pushed WBT into one of the market’s standout performers of the week.
On Nov. 18, WBT spiked to $62.96, its highest price ever, before cooling slightly to around $60.11. Even with the pullback, the token remains up more than 45% from its October low and an impressive 150% from its yearly bottom. With a market cap above $12.9 billion, WBT now ranks as the 13th largest cryptocurrency globally.
Saudi Partnership Sparks the Rally
The latest surge began after WhiteBIT revealed a strategic partnership with Durrah AlFodah, a major Saudi investment group represented by Prince Naif bin Abdullah bin Saud bin Abdulaziz Al Saud.
Through this partnership, WhiteBIT will expand into Saudi Arabia a region rapidly investing in blockchain, digital finance, and AI as part of the country’s Vision 2030 transformation plan.
The collaboration includes ambitious initiatives such as:
- Tokenizing the Saudi stock market
- Developing a Central Bank Digital Currency (CBDC) framework
- Building national-scale computing and crypto-mining centers
- Establishing a joint venture to manage and scale digital infrastructure
The announcement has been widely interpreted as a major leap for WhiteBIT’s global strategy, boosting its long-term prospects and opening doors to deep institutional adoption across the Gulf region.
WBT Price Technical Analysis
WBT’s chart also supports the bullish outlook. On the daily timeframe, the token has been forming a bullish flag pattern since late October a historically strong setup that often precedes another leg upward after consolidation.
Additional indicators confirm the trend:
✔ 20-day SMA crossing above the 50-day SMA, signaling increasing buyer dominance
✔ Supertrend indicator flashed a buy signal, reinforcing bullish continuation
✔ RSI remains elevated, showing strong momentum but suggesting short-term overheating
If buying pressure holds, analysts expect WBT to target the $70–$80 range in the near term. However, a drop below $51.5 (the 78.6% Fibonacci level) would invalidate the bullish structure and could trigger a deeper correction.
For now, strong fundamentals, expanding global presence, and bullish technical signals all support the case for continued upside in WBT.
