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Binance has announced the perpetual contract listing for sudeng and X Empire.
Key Notes
Binance has announced it will add perpetual contracts for sudeng and X Empire.Following the update, the price of HIPPO exploded.The exchange has listed a number of meme coins recently as it looks to expand its product offering.Binance, the largest cryptocurrency exchange by trading volume, has launched USD-backed perpetual contracts for two new tokens: sudeng (HIPPO) and X Empire (X) on its futures platform. This announcement has impacted the prices of both tokens, as traders expect more liquidity and trading options on Binance.
Binance HIPPO and X Listing Details
According to the blog post, this new contract will allow users to trade HIPPO HIPPO $0.0200 24h volatility: 52.1% Market cap: $197.94 M Vol. 24h: $131.11 M with up to 75x leverage.
This means traders can significantly increase their profits or losses, making it a high-risk option for even experienced traders. Also, HIPPO will be part of Binance’s Multi-Assets Mode. This feature allows users to trade HIPPO with other stablecoins or cryptocurrencies, giving them more flexibility and efficiency in managing their collateral.
Intriguingly, HIPPO, a meme coin on the Sui platform, just reached an important milestone with its listing on Binance. Before the listing, HIPPO was priced at about $0.012. However, the news of the perpetual contract listing fueled a big price increase. HIPPO’s value shot up by over 60% as investors injected capital into the token. HIPPO is currently trading at $0.02192.
In addition, Binance introduced a futures contract for X Empire called 1000XUSDT. This contract gives traders new ways to speculate and manage risks and adds to the variety of the exchange’s assets. Binance aims to expand its trading options by offering more leveraged products. Undoubtedly, this move supports its goal of being a one-stop shop for global crypto traders.
Recent Listings on Binance
Last month, the prominent exchange introduced a perpetual contract for CAT token dubbed 1000CATUSDT. As a result of the announcement, Binance traders started trading 1000CATUSDT with up to 75x leverage. Meanwhile, the exchange noted that the 1000CATUSDT will allow traders to use multi-assets mode and, most importantly, tap on other digital assets led by Bitcoin BTC $91 988 24h volatility: 5.8% Market cap: $1.82 T Vol. 24h: $115.70 B as collateral for margin.
Just as seen for HIPPO, CAT’s price surged over 37%, primarily due to the Binance listing announcement. Similarly, Binance listed three new meme coins in September, causing a price surge shortly after the news broke. The exchange added Neiro, Turbo, and Baby DogeCoin to its trading platform. The listing went live, with spot trading pairs available 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 exchange has officially launched Pixels (PIXEL). The exchange’s users can trade PIXEL PIXEL $0.19 24h volatility: 1.2% Market cap: $148.02 M Vol. 24h: $87.92 M against supported assets, including UDST and Bitcoin (BTC), and convert at zero fees. As reported by Coinspeaker, PIXEL is available as a new borrowable asset on Binance Margin. Likewise, perpetual contracts for PIXEL are also available on Binance Futures, with up to 50x leverage.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Binance News, Cryptocurrency News, News
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
