As a seasoned crypto investor with a few battle scars and war stories under my belt, I can’t help but be intrigued by Binance’s latest moves. The launch of USD-backed perpetual contracts for HIPPO and X Empire on their futures platform is a game-changer, no doubt about it.
On its futures platform, Binance, the leading cryptocurrency exchange in terms of trading volume, introduced USD-tied perpetual contracts for two fresh tokens: HIPPO (Sudeng) and X (X Empire). This move has stirred anticipation among traders, who are now looking forward to increased liquidity and diverse trading opportunities on Binance, which may influence the prices of these tokens.
Binance HIPPO and X Listing Details
As per the blog post, this fresh contract offers users an opportunity to trade HIPPO tokens, currently valued at $0.0200, with a maximum leverage of up to 75 times. The token’s 24-hour volatility stands at 52.1%, and it boasts a market cap of $197.94 million, while its 24-hour trading volume amounts to $131.11 million.
1) Traders can greatly amplify their potential earnings or losses due to its high-risk nature, even for skilled traders. Furthermore, HIPPO will become accessible within Binance’s Multi-Asset Trading Mode. This function enables users to trade HIPPO against various stablecoins and cryptocurrencies, offering them enhanced flexibility and efficiency when managing their collateral assets.
Interestingly, the meme coin HIPPO on the Sui platform has recently achieved a significant achievement with its addition to Binance. Prior to this listing, HIPPO was valued around 0.012 dollars. Yet, the announcement of the perpetual contract listing sparked a substantial price rise. The value of HIPPO surged by more than 60%, as investors poured capital into the token. Now, HIPPO is being traded at approximately $0.02192.
As a crypto investor, I’m excited about the latest addition to Binance: the 1000XUSDT futures contract for X Empire. This new instrument opens up fresh opportunities for me to speculate and manage risks, enhancing the diverse portfolio of assets available on the exchange. It seems that Binance is committed to broadening its trading options by introducing more leveraged products, a move that aligns with its ambition to serve as a comprehensive platform for global crypto traders.
Recent Listings on Binance
Last month, a significant cryptocurrency exchange unveiled a perpetual contract for the CAT token called 1000CATUSDT. Following this announcement, Binance users began trading with 1000CATUSDT utilizing up to 75x leverage. The exchange emphasized that the 1000CATUSDT would enable multi-asset trading and most significantly, use other digital assets as collateral for margin. Among these assets, Bitcoin, with a value of approximately $91,988, is noteworthy due to its 24h volatility of 5.8%, market cap of $1.82 trillion, and 24h trading volume of $115.70 billion.
Just like HIPPO’s price increase following its announcement on Binance, the prices of Neiro, Turbo, and Baby DogeCoin skyrocketed by approximately 37% each when they were listed on the same platform in September. This surge occurred shortly after the news of their listing was made public. These three meme coins, namely Neiro, Turbo, and Baby DogeCoin, were added to Binance’s trading platform. The listings went live, offering spot trading pairs for NEIRO/USDT, TURBO/USDT, and 100000BABYDOGE/USDT.
It is important to note that Binance will apply its “Seed Tag” to these new tokens, signaling high volatility and potential risk. As a result, users will pass quizzes every 90 days on either the Binance Spot or Binance Margin platforms to trade these tokens. This step ensures traders are informed and voluntarily assume the risks involved.
The trading platform has now introduced the token called PIXEL. Users of this platform can now trade PIXEL, which is currently valued at $0.19, against other supported assets like UDST and Bitcoin (BTC), all with zero fees. As per Coinspeaker’s report, PIXEL is now available as a new borrowable asset on Binance Margin. Similarly, users can also trade perpetual contracts for PIXEL on Binance Futures, offering up to 50x leverage.
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2024-11-13 18:38