Binance Launches HIVE Futures Trading, Adds BIO Protocol to Launchpad

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As a seasoned analyst with years of experience navigating the cryptocurrency market, I find Binance‘s recent moves to be both strategic and intriguing. The listing of HIVE perpetual contracts with high-leverage options and the introduction of BIO Protocol on Launchpool are clear indicators that Binance is aggressively expanding its offerings and catering to a diverse range of traders and investors.

On Monday, Binance, the world’s biggest cryptocurrency exchange, unveiled the listing of perpetual contracts for HIVE and introduced Bio Protocol to Launchpad. This news caused a 11% jump in the price of HIVE, attracting more investor attention. These actions underscore Binance’s commitment to broadening its services and improving trading possibilities for its users.

Binance Futures Introduces HIVE Perpetual Contract

Beginning on December 23rd, Binance Futures is introducing a Hive token perpetual contract offering up to 75 times leverage. With this innovative feature, traders can amplify their investment in the token using high-leverage options, thereby appealing to both individual and institutional investors alike.

According to the statement, the HIVE/USDT contract offers multi-asset functionality, enabling traders to utilize alternative margin assets such as Bitcoin. The funding fee is adjusted every four hours, with a maximum rate of 2.00% for positive adjustments and 2.00% for negative adjustments. This announcement is one of their steps aimed at improving user trading experiences and expanding their collection of perpetual contracts.

Additionally, it was mentioned that certain details like tick size, maximum borrowing power, and deposit requirements could change depending on the market’s risk level. Given its high-risk nature, it is strongly recommended that potential traders thoroughly evaluate the market prior to engaging in trades.

Introducing BIO Protocol (BIO) on Binance Launchpool

On their Launchpool platform, Binance has added the BIO Protocol (BIO) as its 63rd project. This innovative liquidity protocol is specifically designed for Decentralized Science (DeSci), with a goal to transform the future of decentralized research and collaboration. Users have an opportunity to take part in Launchpool by securing their BNB and FDUSD, earning BIO tokens as rewards. A total of 99.6 million BIO tokens (3% of the initial token supply) are up for grabs as rewards. The farming period runs from December 24 to January 2.

After the farming phase ends, a leading crypto exchange plans to add BIO for trading on January 3. Users will be able to trade this token using USDT, BNB, FDUSD, and TRY as pairs. The initial circulating supply of BIO will amount to about 1.29 billion tokens, which represents around 39.05% of the total Genesis supply. This listing underscores their continued support for groundbreaking projects, offering users fresh income opportunities, and promoting growth within the Web3 and DeSci communities.

HIVE Price Surges on Futures Listing

It was recently announced by Binance that they are expanding their services for HIVE, IDEX, and TLM, leading to price increases in these assets. After being listed on futures, the price of this token jumped 11% to $0.3752, with its trading activity greatly increased. This listing highlights the strong connection between Binance Futures launches and market performance.

The surge in this trend isn’t limited to just one token – the MOCA token saw an impressive increase of 370%, reaching $0.22, following its listing for perpetual contracts with 75x leverage. This listing caused a massive spike in trading volume, which soared by an astounding 7558% to reach $1.34 billion. Furthermore, the Futures Open Interest escalated dramatically by 1297%, reaching a significant $35.64 million.

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2024-12-23 16:05