Binance, the world’s largest cryptocurrency exchange, has announced the launch of the LUMIAUSDT Perpetual Contract on Binance Futures. The futures trading pair went live on December 18, 2024, offering traders the opportunity to trade with up to 75x leverage.
This move is part of Binance’s ongoing efforts to enhance the trading experience and expand the range of choices available on its Futures platform.
Binance Lists LUMIA Token
The LUMIAUSDT Perpetual Contract includes specific trading specifications. At launch, the maximum funding rate is set at +2.00% / -2.00%, with funding fee settlements occurring every four hours. Binance has emphasized that these parameters, including leverage, tick size, and margin requirements, may be adjusted based on market risk conditions.
In addition, Binance offers the Multi-Assets Mode for this contract, allowing users to trade across multiple margin assets. For instance, users can use BTC as a margin when trading the LUMIAUSDT Perpetual Contract, subject to applicable haircuts.
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However, Binance also clarified that the listing of a Futures contract does not guarantee the token’s inclusion on Binance Spot markets.
LUMIA’s Price Comes Down 5%, Contrary to Other Binance Listings
Despite the listing, LUMIA’s price has fallen by over 5% and is currently trading at $1.87. The global market cap of LUMIA stands at $167.2 million, while its 24-hour trading volume has dropped by more than 18%. This is a surprising turn of events, as major Binance Futures listings often result in positive market reactions.
For example, previous Binance listings like HIVE and KOMA tokens saw notable price surges following their respective announcements. HIVE’s price spiked by 14% post-listing, while KOMA experienced an impressive rally of 99.8%. In contrast, LUMIA’s performance has puzzled traders, especially given Binance’s influence in the cryptocurrency market.
The reasons for this downturn remain speculative. Market sentiment, macroeconomic factors, or lack of immediate trading interest could be contributing factors.
Traders may also be taking a cautious approach, as Binance stated that Futures and spot token listings are not inherently correlated, which may have tempered expectations.
Binance’s addition of LUMIAUSDT to its Futures platform underscores its commitment to expanding trading opportunities. However, LUMIA’s decline following this announcement highlights the unpredictable nature of cryptocurrency markets. Traders and investors will likely monitor LUMIA’s performance closely in the coming days to see if the Futures launch sparks renewed interest or further volatility.
As Binance continues to innovate with new trading pairs and advanced features, the market’s response to such developments remains an essential indicator of overall sentiment in the crypto space.
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