The cryptocurrency market has been quite volatile. The leading crypto Bitcoin lost its psychological support at $60,000. Also, the selling pressure on Bitcoin continues after the US Government’s massive transfers. Therefore, this is also putting pressure on the altcoin market. However, there are some who are defying the market-wide decline. In two of them, the news of the futures listing of the cryptocurrency exchange Binance was effective. Binance launched futures contracts for G and RARE up to 50X.
Binance launches futures contracts up to 50X for G and RARE!
Binance, the world’s largest cryptocurrency exchange, has decided to add two altcoins to its list in the futures market. In this context, the exchange will launch contracts for Gravity (G) and SuperRare (RARE) with up to 50X leverage. Binance said it will launch futures contracts for these altcoins today. With this move, the giant crypto exchange aims to expand trading options and improve users’ trading experience.
Binance launched the GUSDT Perpetual Contract today at 15:30 PT. It also launched the RAREUSDT Perpetual Contract at 16:00 PT. Both contracts will have a maximum funding rate of +2.00% / -2.00% at launch. The exchange also noted that funding fees will be paid every four hours. In this context, Binance shared the following announcement:
Binance Futures will launch the GUSDT Perpetual Contract at 13:30 on 08/15/2024 and the RAREUSDT Perpetual Contract at 16:00 on 08/15/2024 with leverage up to 50x to expand the list of trading options offered on Binance Futures and enhance users’ trading experience. More details on these perpetual contracts can be found in the table below.
Altcoin prices react to the list news
As you have been following on Kriptokoin.com, the market has been generally in the red zone under selling pressure. However, following the news of Binance’s futures listing, G’s price responded by jumping from the depths of the red zone. G jumped to $0.3987 from an intraday low of $0.379. The token is still in the red zone, but is trading at $0.3929. At the time of writing, G is changing hands with a daily loss of about 2%.
Following the Binance listing news, RARE responded by jumping out of the red zone. But unlike G, RARE dove deep into the green zone. The token jumped to $0.9539 from an intraday low of $0.7468. At the time of writing, the token was trading at $0.9067, a gain of about 12% on a daily basis. Meanwhile, RARE’s trading volume also saw a significant increase of 127%. This shows the growing interest from investors and traders.
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