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In recent minutes, Binance, the world’s largest exchange by volume, has made headlines with an asset freeze event. The exchange’s recent listings and delistings, as well as its support for network and cryptocurrency updates, have significantly shifted investor focus. Moments ago, the exchange announced that a new altcoin would be listed for futures trading.
Binance Announcement
Binance has remained at the top of the agenda with its recent listings and support. Especially since the beginning of last week, the exchange has added many altcoins to its trading options, seemingly preparing its users for a bull market.
Last week, after developments regarding BRETT, the exchange announced it would support an airdrop for FLOKI holders and later organized a campaign for DOGS investors.
Last week, it was also announced that futures trading for ALPACA would begin. Subsequently, the exchange stated that VIDT’s USDT pair futures trading would start, which triggered a rise in its price. Today, it was announced that MBOX would be listed for futures trading.
The announcement was as follows:
Dear Binancians,
To expand the range of trading options available on Binance Futures and enhance users’ trading experience, Binance Futures will launch the MBOXUSDT Perpetual Contract with up to 75x leverage on 2024-08-28 at 09:30 (UTC).
More details about the perpetual contract can be found in the table below:
How Much is MBOX Worth?
MBOX futures trading was announced to start today at 12:30, and despite the decline in Bitcoin, MBOX saw a sharp rise. MBOX’s price had been stable recently, but after the news, it jumped from $0.1450 to $0.1820, marking an increase of over 20%.
MBOX’s price increase boosted its market cap, while its trading volume remained in the negative zone. MBOX’s market cap surpassed the $70 million mark, but its trading volume fell by 13% to $45.5 million, indicating a lack of sufficient interest.
