This Crypto Token Extends Weekly Rally To 70% On Binance Futures Listing

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As a seasoned researcher with years of experience observing the cryptocurrency market, I must admit that the recent news surrounding SAFE and Binance has piqued my interest significantly. The 70% price rally within a week is nothing short of astonishing, especially when considering the volatile nature of this sector.

The SAFE crypto token has seen a significant price surge, climbing more than 70% in the last week. This impressive increase can be linked back to recent news from Binance. Starting on October 25, Binance will launch the SAFE/USDT perpetual contract, providing traders with up to 75 times leverage.

Binance Introduces SAFEUSDT Perpetual Contract with 75x Leverage

Based on the latest updates from Binance, they’re broadening their selection of leveraged trading opportunities by introducing the SAFEUSDT perpetual contract. With this new product, traders can engage with up to 75 times leverage, enhancing both potential profits and risks. The team at Binance announced that the launch will take place on October 25, 12:30 UTC, offering users additional trading flexibility.

In simpler terms, the SAFEUSDT perpetual contract operates with USDT as the trading currency. This implies that users can execute trades using Tether (USDT), rather than USD directly. The introduction of this contract is designed to improve user experience by providing non-stop, higher-leverage trading opportunities for the Safe (SAFE) cryptocurrency around the clock.

Furthermore, this everlasting contract will have a tick size of 0.0001 and a common format for easy transactions. The contract’s funding rate is limited to +2.00% or -2.00%, with the funding fees being settled every four hours to keep the trading even. These frequent funding periods help balance the pricing between long and short positions, accommodating market fluctuations while reducing interruptions in trading.

Alongside the advantage of high leverage, Binance introduces Multi-Assets Mode for the SAFEUSDT perpetual contract. This mode empowers users to utilize various cryptocurrencies as collateral, rather than just USDT. As a result, traders can leverage their BTC and other eligible assets as security. This innovative feature will boost liquidity and attract a broader user base, particularly those with diversified investment portfolios.

SAFE Price Sees Major Uptick

Over the past week, I’ve been thrilled to see SAFE Price surge by more than 70%, following news from Binance. Just after the announcement, SAFE was priced at $1.64 – a 20% jump in the last day alone! The trading volume has also surged by 82.92%, which indicates that both new and existing investors are taking notice of this asset. It’s an exciting time to be a part of the SAFE community!

Additionally, the surge in SAFE token’s value can be attributed to its recent addition to Upbit, one of South Korea’s primary cryptocurrency exchanges. The listing and today’s Binance announcement have sparked a price increase, pushing it up by more than 100% over the past month. There has been a notable rise in investor attention towards SAFE, with on-chain data suggesting that the buying pressure is escalating.

In much the same way, a meme coin called Moo Deng (MOODENG) experienced an approximately 90% surge in its value after it was listed on Binance’s futures market. This listing offered up to 75 times leverage and a maximum funding rate of +2.00% or -2.00%, which helped push the price of MOODENG to reach $0.1388 during trading hours that day.

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2024-10-25 18:34