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Binance Futures, the futures trading arm of the world’s largest cryptocurrency exchange Binance, has announced the launch of futures trading for MovieBloc (MBL) with leverage of up to 50x. Following the announcement, the price of MBL quickly surged. Here are the details.
MBL Coming to Binance Futures
Binance Futures, the futures trading arm of the giant cryptocurrency exchange Binance, has announced that USDT-based futures trading for MBL will be available with leverage of up to 50x starting at 18:00 GMT today.
The maximum funding rate for MBL/USDT futures trading has been set at +/- 2 percent during the launch. The funding fee for MBL futures will be paid every four hours, and the funding rate will be recalculated during this period.
MBL Price Surges Following Binance’s Announcement
Recently, Binance Futures has triggered significant price increases with its futures trading launches for various altcoins such as NTRN, ILV, STEEM, ORDI, BADGER, TOKEN, and MEME. The announcement of futures trading for MBL has also led to a price surge for the altcoin.
Following the announcement, the price of MovieBloc’s service token MBL rapidly moved upwards, increasing by more than 10 percent. Prior to Binance Futures’ announcement, MBL was trading around $0.0055, but it reached $0.006801 after the announcement.
MovieBloc, founded by Peter Kim, is a decentralized film and content distribution platform that operates in the cryptocurrency market. It was launched through an ICO conducted by South Korean video streaming platform Pandora.tv.
