Altcoin
REI Network (REI) Price Soars 20% Upon Binance Futures Listing, More Gains Ahead?
REI Network, a decentralized public blockchain framework, sparked significant investor optimism on Friday as crypto exchange behemoth Binance announced a vital update on it. Notably, the network’s native token’s price soared considerably in the past 24 hours as the crypto exchange unveiled futures listing for it. Meanwhile, the decentralized public blockchain framework’s recent partnerships have added further optimism on REI price action’s future.
Binance Launches USD-Margined Perpetual Contract For Rei Network
In an official Binance announcement dated September 27, the crypto exchange revealed that it is launching REIUSDT USD-Margined perpetual contract today at 11 UTC. The underlying asset for the perpetual contract remains REI Network. Further, the tick size set by the exchange was 0.00001. Moreover, the capped funding rate was set at +2.00% / -2.00%. Users can enjoy up to 75x leverage trading the asset.
The top crypto exchange clarified that this mover comes to “expand the list of trading choices offered on Binance Futures and enhance users’ trading experience.” However, the exchange also clarified that potential changes could be made in the perpetual contract ahead based on market risk conditions. These changes could encompass modifications to the funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements. Nevertheless, the announcement appears to have triggered a bullish sentiment for the token in the market.
Token Price Soars Nearly 20%
Following Binance’s announcement, REI’s price shot up nearly 20% from its 24-hour low to $0.01229. The coin’s intraday low and high were recorded as $0.05876 and $0.07474, respectively. Traders appear to have reacted positively to the Binance listing announcement as the intraday volume surged 872% to $35,891,910. This price upswing has also garnered additional optimism as the decentralized public blockchain framework forged ahead with an AI partnership recently.
The decentralized public blockchain framework partnered with Solder AI to bring AI infrastructure scaling technology to the network. “By integrating REI high-performance, zero-fee blockchain with Solder AI’s cutting-edge infrastructure, we’re scaling AI capabilities and expanding DeFi, GameFi, and NFT possibilities,” the network’s community stated in an X post today.
Meanwhile, today’s price upswing also aligns with the crypto exchange’s expansion of trade offerings, as evident by past chronicles. In light of the recent Worldcoin futures listing, the WLD coin’s price extended weekly gains to nearly 27%.
Further, another P2E token League of Kingdoms Arena (LOKA) price soared over 20% with its futures listing on the exchange. These chronicles rationalize the REI price upswing today. Coupled with the abovementioned partnership, optimism for future gains also prevails among market watchers as the listing paves the way for further money inflow to the asset.
Coingape Staff
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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.
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