Following the announcement that cryptocurrency exchange Binance would list it, the price of BRC-20 Sats (1000SATS) sharply increased, further amplified by a leverage boost. Binance Futures, the futures trading arm of Binance, has announced the start of 1000SATS futures trading with up to 50x leverage.
Binance, known for its significant trading volume as the largest cryptocurrency exchange, announced the launch of futures trading for 1000SATS. Accordingly, Binance Futures will initiate futures trading for 1000SATS with up to 50x leverage today at 17:00 TRT.
The maximum funding rate for 1000SATS futures trading will be plus or minus 2 percent. The funding rate will be updated every four hours, as is the case with other futures trades.
As known, Binance had announced earlier today at 15:00 TRT that it would list 1000SATS in three trading pairs: 1000SATS/USDT, 1000SATS/FDUSD, and 1000SATS/TRY. Following the listing announcement, the price of the altcoin soared over 70% within minutes. The price surge intensified with the listing boost from Binance Futures.
According to data provided by the crypto data and price platform CoinGecko, the price of 1000SATS was trading at $0.000000523672, an increase of 159.7% over the last 24 hours, at the time this article was prepared. Moreover, the trading volume of the altcoin has surged by an extremely high rate of 560% to $159.49 million in the same time frame.
SATS is a BRC-20 token issued to honor Satoshi Nakamoto, the pseudonymous creator of Bitcoin (BTC). SATS stands for Satoshi, the smallest unit of Bitcoin. One satoshi is equal to 0.00000001 BTC. 1000SATS is a thousand times that of one SATS.
