Binance, one of the world’s leading cryptocurrency exchanges, has launched perpetual contracts for four digital assets, AIXBT, FARTCOIN, KMNO, and CGPT.
The contracts will be available on Binance Futures and come with a maximum funding rate of +2.00%/-2.00% at launch. The funding fee for these contracts will settle every four hours.
Performance of the Newly Launched Assets
This new offering adds to Binance’s dynamic portfolio and enhances users’ trading options. AIXBT, FARTCOIN, and CGPT are listed on Binance’s Alpha Market. The Multi-Assets Mode allows users to trade these perpetual contracts using multiple margin assets.
For example, traders can use Bitcoin (BTC) as collateral when engaging with these contracts. Binance has also emphasized that contract specifications, such as funding fees, tick sizes, maximum leverage, and margin requirements, may be adjusted based on market risk conditions. The announcement has brought significant market activity for the featured assets, with some seeing remarkable price movements.
Price Actions of the Token
AIXBT is trading at $0.3407, marking a surge of over 22% in value. Its global market cap stands at $291.48 million, and the 24-hour trading volume has skyrocketed by 148%, reflecting increased investor interest.
FARTCOIN, a memecoin that has captured attention recently, is trading at $0.8755, down over 24%. Despite the decline, FARTCOIN achieved a high of $1.24 earlier this week. With a global market cap of $872.02 million, it has become a significant player in the memecoin market. However, a broader selloff in the memecoin segment has impacted its price trajectory. FARTCOIN’s 24-hour trading volume has risen by 16%, showcasing continued market engagement.
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KMNO is priced at $0.1856, reflecting a growth of 12.87%. With a market cap of $250.46 million and a 67% increase in trading volume in the past 24 hours, KMNO is benefiting from its unique liquidity strategies. The platform’s tokenized concentrated liquidity positions, known as kTokens, make it a standout project, allowing users to leverage liquidity positions as collateral.
CGPT has experienced the most significant gains among the four, trading at $0.2451, up by an impressive 45.43%. Its global market cap stands at $190.92 million, and the 24-hour trading volume has surged by 277%. This reflects strong investor confidence and demand in the asset.
Binance Listing Effect
The Binance listing effect has once again proven its influence on market activity. Due to the platform’s vast global reach and reputation, assets listed or supported by Binance often experience a surge in trading volume and market visibility.
The newly launched perpetual contracts for AIXBT, FARTCOIN, KMNO, and CGPT are no exception. Even though some of the coins are down now, the listing is undoubtedly a positive boost to the tokens’ needs. As not all coins have gained, it is because general market sentiment has played a crucial role in their performance.
Market Implications
The launch of these perpetual contracts highlights Binance’s commitment to expanding its product offerings and catering to diverse trading needs.
The performance of the newly added assets showcases varying investor sentiment, with some assets like CGPT and AIXBT experiencing substantial gains, while others, such as FARTCOIN, face market corrections.
As Binance continues to refine its offerings based on market dynamics, traders can expect greater flexibility and opportunities. The Multi-Assets Mode is particularly promising, allowing users to manage risk more effectively across multiple assets.
In the ever-evolving cryptocurrency landscape, Binance’s proactive approach ensures it remains at the forefront of innovation, providing traders with diverse tools to navigate the market.
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