Altcoin
AERGO Price Rockets 25% on Binance Perpetual Contract Launch
Aergo protocol stirred up a buzz across the broader crypto industry on Tuesday as its native token AERGO price skyrocketed nearly 25% on an important update from Binance. The leading crypto exchange announced perpetual contract launch for the token, stirring investor enthusiasm across the market. Crypto enthusiasts continue to speculate whether the listing could spark an uptrend for the token ahead.
Binance Launches AERGO Futures Listing
As per an official Binance announcement dated September 10, the crypto exchange revealed that it is launching futures trading for AERGO USD-Margined perpetual contract (AERGOUSDT) starting today at 12:15 UTC. Traders on the platform can enjoy up to 75x leverage trading the digital asset.
This decision by the crypto exchange comes as a mover to “expand the list of trading choices offered and enhance users’ trading experience” on the platform. The underlying asset remains Aergo protocol.
It’s worth noting that the capped funding rate set by the exchange was at +2.00% / -2.00%. However, the CEX also clarified that it may adjust the specifications of the listing contract based on market conditions. This includes changes in the funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements.
Meanwhile, the protocol’s community on X recently revealed that it is readying a V4 update to enhance network compatibility and fix minor issues on the protocol’s ecosystem. With 95% of the work for this V4 update is completed, the testnet launch remains poised for mid-September. Also, the mainnet hard fork is set to go live by the end of September. These developments, altogether, have garnered significant investor attention on the AERGO token amid its price upswing.
Token Price Surges 25%
AERGO price soared nearly 25% from its 24-hour low to trade at $0.1054 at press time. The coin’s intraday low and high were $0.08566 and $0.111, respectively. AERGO’s 24-hour trading volume surged by a whopping 1951.48% today, sparking a buzz among market participants. This price upswing primarily aligns with the top crypto exchange‘s futures listing announcement weighing in.
As seen previously, Binance futures listing for Rocket Pool (RPL) sparked a phenomenal price uptick for the Ethereum liquid staking protocol, CoinGape Media reported. Similarly, the AERGO price upswing witnessed today aligns with the exchange’s listing announcement, with the V4 upgrade adding to optimism on future movements.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
✓ Share: