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The launch of futures contracts for Comedian (BAN) and Akash Network (AKT) on the Binance Futures platform has sparked significant interest in the markets. Following the announcement, the price of BAN surged by approximately 80%, while AKT saw an increase of 25%. This bullish trend has raised optimism among traders as both assets continue to gain traction on the platform.
Details of BAN and AKT
On November 18th, Binance Futures announced USDⓈ-collateralized perpetual contracts for Comedian (BAN) and Akash Network (AKT). According to Binance, both assets experienced a notable value increase post-listing, with BAN rising by 80% and AKT by 25%. These contracts allow traders to leverage up to 75 times their positions, contributing to heightened volatility and excitement in the market.
The new contracts establish BANUSDT and AKTUSDT as the primary trading pairs. Traders can expand their positions significantly due to the high leverage, which results in increased volatility for these coins and creates a buzz in the market. This decision by Binance Futures is viewed as part of an effort to widen the asset range available on the platform.
Price Rally of Comedian and Akash Network
After the listing, the price of Comedian (BAN) increased by 80%, reaching $0.31. Within 24 hours, BAN’s value fluctuated from $0.1798 to $0.3992, typically resulting in sharp price spikes following such listings.
Similarly, Akash Network (AKT) exhibited a comparable upward trend, trading at $3.785 at the time of writing. AKT’s 24-hour low and high were recorded at $3.155 and $4.261, respectively. Over the past week, AKT saw a 44% increase, with a trading volume reaching $136 million.
The listing on Binance Futures has also paved the way for significant price jumps in other assets like MOG coin. MOG coin garnered attention with a remarkable 470% increase last week. This trend indicates that Binance’s listing announcements create considerable market activity.
The introduction of Comedian and Akash Network on Binance Futures has led to substantial increases in the market values of these cryptocurrencies. With high leverage options and a diverse range of trading pairs, attractive opportunities arise for traders, resulting in increased market volatility. These developments strongly reflect Binance’s strategy to expand its cryptocurrency asset offering.
