Binance’s MELANIA Futures Contract Ignites 75% Price Rally: What’s Next?

by

On Monday, Binance announced significant news regarding the new meme coin, MELANIA. This announcement has generated international interest. Binance shared that they will introduce a perpetual contract for this cryptocurrency, which has increased market enthusiasm since the asset has already experienced a 75% price surge. Now, traders and investors are hopeful for continued growth as one of the leading exchanges is backing the MELANIA project associated with Melania Trump.

Binance Unveils MELANIA Futures Contract Shortly After Token Launch

As per a Binance announcement made on January 20th, they will be introducing the MelaniaUSDT perpetual contract starting from 09:30 UTC. Notably, their vast user community stands ready to take advantage of trading this asset with up to 25 times leverage.

As a crypto investor, I’ve noticed this recent action taken by the exchange aligns with their strategic focus on penetrating burgeoning markets worldwide. It’s important to note that the funding rate for trades on this platform was capped at +2.00% for long positions and -2.00% for short ones.

Remarkably, the Melania meme coin has become the latest buzz in the cryptocurrency community, mirroring the strategy behind the recently introduced Official Trump token. Most recently, Melania Trump, former first lady of the U.S., shared her thoughts on the launch of this meme coin on platform X.

The Official Melania Meme is live!

You can buy $MELANIA now.  

FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P

— MELANIA TRUMP (@MELANIATRUMP) January 19, 2025

These records showed that the token was able to make substantial progress, as CoinGape noted that the launch of the MELANIA meme coin sparked massive trading action. In summary, these events have helped the crypto project to become more noticeable among traders and investors.

Contrary to what’s shown on the new coin’s website, a recent post by blockchain data tracker Bubblemaps suggests that the tokenomics appear questionable. Strikingly, 89% of the coin’s total supply is held in a single wallet and hasn’t been distributed yet, according to the findings.

Coin’s Price Pumps Over 75%, More Steam Ahead?

Following the announcement of Binance listing, the price of MELANIA surged by 75% to reach $12.89. During the day, its lowest and highest points were $6.62 and $13.73 respectively. It’s worth noting that market analysts continue to be optimistic about the coin’s future trajectory, as listing on Binance, a prominent crypto exchange, boosts the coin’s visibility in the market.

At the same time, it’s worth mentioning that the fresh token launch coincides with Arthur Hayes’ forecast of an epoch for political memecoins. In general, the mood surrounding these tokens is extremely optimistic, even though investors are cautious due to the volatile and fluid characteristics of the larger cryptocurrency market.

Read More

2025-01-20 12:36