Binance Announces Worldcoin Futures, WLD Price Eyes Run to $4

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As a seasoned analyst with over two decades of market observation under my belt, I can’t help but feel a sense of intrigue surrounding Binance’s decision to list Worldcoin (WLD) futures. The cryptocurrency market is notorious for its volatility, and while the 27% surge in WLD price over the past week certainly piques my interest, I remain cautiously optimistic.

Binance announced on Friday that they are planning to list Worldcoin (WLD) futures, causing excitement among global market observers. This decision follows a 27% increase in WLD’s price over the past week, suggesting continued upward trend.

Binance Unveils Perpetual Contract For Worldcoin

Based on a Binance announcement dated September 27, their futures division will introduce the WLDUSD COIN-M perpetual contract starting October 2 at 10:00 UTC. Users can take advantage of up to 20 times leverage when trading this asset on the platform. This move by the leading cryptocurrency exchange is aimed at expanding and improving trade options for its users.

Currently, Sam Altman’s Worldcoin (WLD) serves as the primary asset. It’s worth noting that the coin does not support multiple assets at this time. Furthermore, the trading unit established by the cryptocurrency exchange is still 0.0001.

Despite this, Binance often emphasizes that it can modify its perpetual contract terms based on market risk factors. Potential alterations in the future might involve tweaking funding fees, tick sizes, maximum leverage levels, initial margin, and maintenance margin thresholds.

At the same time, the broader market graphs of WLD price fueled investor confidence in the asset today. The upcoming futures listing announcement boosts positive expectations for the token’s future performance, increasing market enthusiasm.

WLD Price Up 27% Over The Week

As of this update, the price of WLD coin surged by almost 1%, sitting at $2.10. Its lowest and highest points during the day were $2.00 and $2.17, respectively. Interestingly, weekly data reveals a significant increase of 27% in the asset’s value. Additionally, the monthly chart indicates an impressive gain of around 40%, fueling even more enthusiasm.

It’s significant to note that being listed on Binance has historically boosted a token’s value. For instance, CoinGape Media reported a surge of over 30% in Catizen’s price after it was listed on the exchange. On the other hand, the price of Telegram P2E Hamster Kombat (HMSTR) has significantly dropped since its listing on Binance, which raises questions about the potential future value of Worldcoin.

Today, I observed a dip of 1% in the Open Interest (OI) of Worldcoin futures, bringing it down to approximately $218.44 million. Concurrently, the derivatives volume took a 26% hit, dropping to $1.47 billion. This decrease has added to the ambiguity surrounding future price fluctuations, even with recent gains and the listing of these futures.

However, it’s important to note that a recent update from the AI coin community on their platform showcased a significant milestone: this week, the World ID feature of the AI-crypto collaboration was launched in three new countries – Guatemala, Malaysia, and Poland. This expansion coincides with an increase in the value of the native token associated with the project.

Additionally, it’s noteworthy that a recent analysis by CoinGape Media on WLD price indicates that on-chain data is becoming positive, potentially leading towards a target of $4. However, the token encounters significant resistance at $2.50 and $3.20. If it manages to overcome these hurdles, there’s a chance it could reach $4 as projected.

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2024-09-27 12:44