Binance Futures has expanded its offerings with the addition of MOODENG, a popular Solana-based meme coin, to its futures contract listings.
The new perpetual contract, which uses Tether(USDT) as its settlement asset, launched with a capped funding rate of 2.00%/-2.00% and four-hour funding fee settlements.
As stated in its notice, the exchange retains the right to adjust various contract parameters, including funding fees, tick size, maximum leverage, and margin requirements. Traders can utilize the multi-asset mode for the MOODENGUSDT perpetual contract, enabling them to use Bitcoin and other cryptocurrencies as collateral. The contract’s tick size has been set at 0.00001.
MOODENG’s journey to prominence began on September 11 when it launched on the pump.fun platform. The meme coin, which saw an impressive 120.92% rise in its perpetual contract, draws inspiration from Moo Deng, a pygmy hippo residing in a Thai zoo whose videos have captured internet attention.
This announcement comes on the heels of a post from the memecoin developer team on X that claimed that MOODENG ranked among the most purchased coins on SushiSwap within a 24-hour period as of October 24. Notably, the memecoin also was listed on Cube on October 23.
The price of MOODENG has surged by an impressive 122.20% following the contract launch, rising to $0.1484 over the past 24 hours. The token is currently trading at $0.1722, according to CoinMarketCap data.
In a separate development, Binance has announced support for Aragon’s (ANT) token swap initiative, allowing holders to exchange their ANT tokens for Ethereum at a fixed rate of 0.0025376 ETH per ANT. The conversion process is scheduled to begin on October 28, 2024, with ANT tokens being automatically removed from users’ accounts at 07:59 TRT, and the corresponding Ethereum will be credited by November 9, 2024. The Aragon Foundation will utilize its treasury to facilitate this exchange.
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