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Binance, the world’s largest exchange by volume, is known for its recent listings having significant market impacts. These listings and delistings, along with its support for network and cryptocurrency updates, have notably shifted investor focus. Recently, an important announcement was made on the exchange’s official announcement page, sharing news about a cryptocurrency being listed for futures trading.
Binance Announcement
Binance continues to dominate the headlines with its recent listings and support initiatives. The exchange, which has added numerous altcoins to its trading options since the beginning of the week, has also been paying significant attention to meme coins. Today, however, the listing news came from a different angle.
Following recent developments about BRETT, Binance announced its support for an airdrop to FLOKI holders and later organized a campaign for DOGS investors. Yesterday, it announced the launch of futures trading for ALPACA. Today, Binance revealed that VIDT futures trading against USDT would commence.
The announcement stated:
Dear Binancians,
To expand the trading options available on Binance Futures and enhance users’ trading experience, Binance Futures will launch the VIDTUSDT Perpetual Contract with up to 75x leverage on 2024-08-23 at 09:30 (UTC).
More details about the perpetual contract can be found in the table below:
How Much is VIDT Worth?
Futures trading is set to begin today, August 23, 2024, at 12:30 PM, and following the announcement, VIDT surged. The price jumped from its long-standing level of $0.025 to $0.03545, marking an increase of over 55% within minutes.
This surge pushed the market cap beyond $29.6 million, placing it at 758th rank, though the volume remains relatively low. The trading volume is still 32% below yesterday’s level at $17.8 million. Increased investor interest could potentially drive up the 24-hour trading volume in the coming hours.
