Binance‘s futures arm Binance Futures announced the launch of EthereumPoW (ETHW) futures, causing the altcoin’s price to surge sharply.
Binance ETHW Futures Launch
The leading cryptocurrency exchange Binance Futures will introduce ETHW futures with leverages up to 50x. The futures for ETHW are scheduled to start today at 15:30 TRT, according to the announcement from the crypto exchange.
For ETHW futures, the maximum funding rate will be +/- 2%, and the funding fee will be recalculated every four hours.
Announcement Propels ETHW’s Price
Following the announcement of the futures by Binance, the price of ETHW jumped sharply. The altcoin’s price, which was trading at $3.13 before the announcement, soared over 30% to $3.50 within minutes afterwards.
As of the writing of this article, ETHW has seen a 33.51% increase in the last 24 hours, trading at $3.50. The current price of the altcoin is 97.96% below its all-time high of $141.36 recorded on August 8, 2022.
- Binance Futures launches ETHW futures.
- ETHW price surges following the announcement.
- Price remains below all-time high levels.
