OKX has made a significant announcement regarding the integration of ACT/USDT trading pairs into its platform, triggering a notable market response.Â
The exchange will launch ACT/USDT margin perpetual contracts on November 14, 2024, at 19:00 (UTC+8), followed by leverage trading and Simple Earn features on November 15, 2024, at 12:00 (UTC+8).
This comprehensive integration includes sophisticated trading features with leverage options ranging from 0.01 to 50x, operating on a 24/7 basis.
The contract’s face value is set at 1, with a tick size of 0.0001, demonstrating OKX’s commitment to providing precise trading capabilities for ACT token traders.
Technical Specifications and Trading Parameters
The contract’s technical framework includes several important specifications designed to ensure stable trading conditions.
The funding fee calculation follows a complex formula: Clamp(MA([(Contract Bid Price + Contract Sell Price) / 2 – Spot Index Price] / Spot Index Price – Interest), -1.5%, 1.5%), with Interest set at 0.
Notably, during the initial launch phase until November 15, 2024, 00:00 (UTC+8), the funding rate upper limit will be capped at 0.03% to prevent unreasonable funding charges.
After this period, it will return to the standard 1.50% limit, with the actual funding charge implementation scheduled for November 15, 2024, at 8:00 (UTC+8).
Market Performance and Price Analysis
The announcement has had a significant impact on ACT’s market performance, with the token’s price surging to $0.8802.
The token has demonstrated remarkable trading activity with a 24-hour volume reaching $2,570,109,327, representing a substantial 28.57% price increase within the last 24 hours.
Even more impressively, ACT has recorded an extraordinary 3,009.93% price appreciation over the past week.
With a circulating supply of 950 Million ACT, the project has achieved a market capitalization of $842,988,352, positioning it as a significant player in the cryptocurrency market.
Binance Listing and Additional Trading Pairs
Further amplifying the token’s market presence, Binance has announced the addition of multiple ACT trading pairs, scheduled for November 15, 2024, at 08:00 UTC.Â
The new trading pairs will include ACT/FDUSD, ACT/USDC, along with other pairs such as NEIRO/USDC, PNUT/BTC, PNUT/FDUSD, and PNUT/USDC.
Binance will simultaneously enable spot algo order services for all these trading pairs, providing traders with advanced trading options.
This multi-exchange integration demonstrates growing institutional interest in ACT and suggests potential for increased market liquidity and trading opportunities.