Binance Launches MELANIA Perpetual Contract

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On Binance, they’ve unveiled the debut of the Melania Perpetual Contract. This announcement follows the launch of the Trump perpetual contract by the platform on January 18th. The Melania-USDT pair on Binance offers a maximum leverage of 25x, enabling users to intensify their trading endeavors, although it does carry its own risks.

The statement from the exchange indicates that the funding fee is computed every four hours, while the funding rate for MELANIAUSDT perpetual contracts has been set at +2.00% and -2.00%. Settlement for this contract will be done in USDT ($1.00). Here are some key details:

– 24-hour volatility: 0.0%
– Market cap: $138.20 billion
– 24-hour trading volume: $217.58 billion
– Contract size: 0.001

The platform has announced potential modifications to specific futures agreements due to market fluctuations. These adjustments might include tweaks to the funding rate, minimum price increment, maximum borrowing limit, initial deposit, or upkeep margin. Furthermore, listing a token for futures trading does not automatically mean it will be accessible for standard trading on Binance as well. Binance clarified:

Due to changes in market risk factors, Binance might occasionally modify the details of the mentioned Futures contract. These potential adjustments could involve the funding fee, the minimum price increment (tick size), the maximum loan-to-value ratio (leverage), the initial and/or maintenance margin requirements.

On Binance Futures, we’re excited to present the MELANIAUSDT Perpetual Contract, offering a new avenue for exploration within the crypto market. This contract is designed for users seeking a variety of trading possibilities. However, as with any leveraged product, it’s crucial to thoroughly grasp the inherent risks before participating in this market.

MELANIA’s Listing on Major Exchanges Boosts Popularity and Price

Other notable crypto exchanges, such as BitMEX and Bybit, have recently added support for the MELANIA token, a meme coin inspired by the U.S. First Lady that has gained significant attention. The token’s listing on these platforms has contributed to its rise in popularity, with a 40% increase observed within the last 24 hours. With a market capitalization surpassing $2 billion and current trading at $10.50, MELANIA is garnering substantial interest among investors.

As an analyst, I’ve uncovered some intriguing on-chain activities involving the trading of MELANIA. By employing two distinct wallets, a savvy trader managed to amass a staggering $47.5 million in profits. The first wallet invested approximately $560,000 in SOL to acquire 1.52 million units of MELANIA, subsequently selling them for around $11.5 million, pocketing an impressive $11 million profit.

The second wallet, on the other hand, utilized $800,000 USDC to purchase a larger quantity of 3.84 million MELANIA. The trader then sold half of this amount for a massive $16.45 million in USDC (given its current value of $1), keeping the remaining $20.85 million. This second transaction added another $20.85 million to the overall profit, bringing the total gain to an astounding $36.5 million.

At the time of this analysis, MELANIA’s 24-hour trading volume stood at a staggering $31.21 billion, with a market cap of $48.08 billion and a 24-hour volatility of 0.0%. These figures underscore the immense liquidity and stability associated with MELANIA in the current market landscape.

MELANIA’s Launch Leads to TRUMP Meme Coin Decline

After Melania Trump introduced her own meme coin, known as MELANIA, a substantial drop of more than 40% occurred in the value of the TRUMP token, as reported by The Kobeissi Letter.


TRUMP
$52.56



24h volatility:
20.6%


Market cap:
$10.50 B


Vol. 24h:
$36.36 B

Placing Melania on major exchanges might cause prices to rise even more. This situation might indicate an emerging trend towards the entry of additional meme coins into the cryptocurrency market.

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2025-01-20 17:37