Altcoin
Binance Launches HIVE Futures Trading, Adds BIO Protocol to Launchpad
The world’s largest crypto exchange Binance on Monday announced the perpetual contract listing for HIVE and added Bio Protocol to Launchpad. HIVE price surged 11% after the announcement, sparking increased investor interest. The moves highlight Binance’s efforts to expand its offerings and enhance trading opportunities for users.
Binance Futures Introduces HIVE Perpetual Contract
Binance Futures revealed the launch of the Hive token perpetual contract with up to 75x leverage, from December 23. This new contract enables traders to maximize their exposure to the token with high-leverage options, attracting both retail and institutional investors.
The exchange said The HIVE/USDT contract supports multi-assets mode, allowing traders to use other margin assets like BTC. The funding fee will be settled every four hours, with a capped rate of +2.00% / -2.00%. This announcement is part of its efforts to enhance user trading experiences and expand its growing list of perpetual contracts.
The exchange also noted that the specifications, including tick size, maximum leverage, and margin requirements, may be adjusted based on market risk conditions. As a high-risk product, traders are advised to assess the market carefully before trading.
Introducing BIO Protocol (BIO) on Binance Launchpool
Binance exchange also announced BIO Protocol (BIO) as the 63rd project on its Launchpool platform. BIO is a cutting-edge liquidity protocol for Decentralized Science (DeSci), aimed at reshaping the future of decentralized research and collaboration. Users can participate in the Launchpool by locking BNB and FDUSD to farm BIO tokens, with a total of 99.6 million BIO (3% of the genesis token supply) available as rewards. Farming will run from December 24 to January 2.
Upon the conclusion of the farming period, one of the top crypto exchanges will list BIO on January 3. Trading pairs will include USDT, BNB, FDUSD, and TRY, providing users with multiple options to trade the token. BIO’s initial circulating supply will be approximately 1.29 billion tokens or 39.05% of the total Genesis supply. This launch reaffirms its commitment to supporting innovative projects while providing users with new earning opportunities and fostering growth in the Web3 and DeSci ecosystems.
HIVE Price Surges on Futures Listing
Binance has also recently revealed expanded offerings for HIVE, IDEX, and TLM, sparking price rallies across these assets. Following its futures listing, The price surged 11% to $0.3752, with its 24-hour low and high ranging between $0.2899 and $0.3752. The listing significantly boosted the token’s trading activity, underlining the strong correlation between Binance Futures launches and market performance.
This trend isn’t isolated as MOCA token experienced a 370% surge to $0.22 after its perpetual contract listing with 75x leverage. Its trading volume skyrocketed by 7558% to $1.34 billion, while Futures Open Interest climbed 1297% to $35.64 million.
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: