As a seasoned crypto investor with a knack for spotting emerging gems, I must admit that UXLINK has caught my attention. Having witnessed the rollercoaster ride of countless digital assets, it takes more than just hype to pique my interest. But when Binance, the crypto behemoth, extends its support to a project, it’s hard not to take notice.
On a down day for the wider cryptocurrency market, the native token of Web3 social platform UXLINK is continuing to increase its weekly price growth – now up by 102%. This significant rise in value can be attributed to Binance‘s recent decision to list the UXLINK token on their futures trading platform.
On Sunday, Binance unveiled the start of a US Dollar-margined perpetual contract for UXLINKUSDT, enabling traders to amplify their positions as much as 75 times. The trading for UXLINKUSDT commenced at 15:00 UTC on that same day. With this new futures market now accessible to Binance’s substantial user base, there’s increased excitement about the token’s price movement prospects.
As a researcher, I’d rephrase it as follows: In Binance’s official announcement, they detailed essential aspects of this contract, such as a maximum funding rate of 2.00% above or 2.00% below the base rate. Furthermore, they subtly suggested that factors like funding fees, leverage, and margin requirements might be subject to modifications in response to changing market risk conditions in the future.
UXLINK Price Gains
right now, UXLINK is being traded at $0.3915, marking an increase of 6.5% in the past day. Yet, it’s weekly growth is particularly notable, as the token has surged by approximately 102% over the last week. The coin’s upward trend can be attributed to its futures listing and a general market rise, which have contributed to its strong performance.
The trading volume on UXLINK has significantly increased by 46% within the past 24 hours, amounting to a total of $488 million, indicating a heightened level of trader engagement.
Furthermore, the total amount of open positions (OI) in UXLINK futures contracts is currently approximately $47 million. As reported by CoinGlass, the trading volume for UXLINK derivatives has surged to an impressive $895 million, indicating a growing interest and demand for trading the token.
Significantly, the UKLINK project, which debuted in July, currently holds a market capitalization of about $66.3 million. Over the last month, it has seen an impressive surge in value, rising by approximately 160%.
On previous occasions, UXLINK has collaborated with Binance to stimulate its expansion. Back in May, UXLINK joined forces with Binance’s Web3 Wallet for a user involvement initiative. Rewards like UXLINK airdrops and UXUY points were given out for completing specific tasks within this campaign. This drive not only increased visibility but also attracted fresh users to the platform.
UXLINK’s Massive Growth
UXLINK’s Social Monster, launched recently, has quickly built a strong reputation due to its rapid user expansion. It is now recognized as the biggest Web3 social network and infrastructure, offering users the opportunity to explore, interact with, and invest in potential cryptocurrency assets in a socially-oriented way. At present, it serves approximately 27 million users worldwide.
With the expanding Web3 sector, UXLINK’s function as a social platform may open up more avenues for development, particularly with backing from key exchanges such as Binance. Notably, UXLINK successfully raised $9 million in investment funds during March, with contributors like OKX Ventures participating.
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2024-09-16 16:12