Binance Listing Triggers Over 20% Gains In This P2E Token

by

As a seasoned crypto investor with a knack for spotting potential gems, I can confidently say that Binance’s move to debut League of Kingdoms Arena (LOKA) futures trading is a game-changer. Having witnessed the meteoric rise of Aavegotchi (GHST) and Catizen (CATI) upon their Binance listings, I couldn’t help but see the similarities and seize this opportunity.

On Tuesday, the crypto market showed increased optimism about LOKA, a play-to-earn cryptocurrency project associated with the League of Kingdoms Arena, following Binance‘s decision to support it. This move led to a significant surge in LOKA’s price, approximately 20%, as Binance announced plans to list futures for the token on their platform. Furthermore, traders have responded favorably to this news, resulting in an impressive increase of nearly 155% in LOKA’s intraday trading volume.

Binance Debuts League of Kingdoms Arena (LOKA) Futures Trading

Today at 11:30 UTC, Binance, one of the top cryptocurrency exchanges, announced the launch of a new perpetual contract for LOKA/USDT. This move is part of their strategy to broaden the variety of trading options available on their platform.

According to Binance’s recent announcement, users can experience a maximum of 75 times multiplier when trading certain assets. The maximum funding rate, which can be either +2.00% or -2.00%, has been set. Additionally, one of the leading cryptocurrency exchanges has established a tick size of 0.0001 for this trade. However, it’s important to note that the perpetual contract may undergo modifications in the future due to market risk conditions. Potential adjustments could include changes in funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements.

Additionally, it’s important to mention that League of Kingdoms (LOKA) is a massively multiplayer online (MMO) strategy game built on blockchain technology. To give you a sense of its unique features, this platform operates as a play-to-earn ecosystem where players can generate real income by engaging within the game.

P2E Token Price Blows Up 20%

Currently, the value of LOKA has increased by approximately 20% compared to its lowest point within the last 24 hours, now trading at $0.2723. The coin’s lowest and highest points during this period were $0.2236 and $0.2959 respectively. Notably, the trading volume of LOKA over the past day has significantly increased by 155%, reaching $22.74 million, following the announcement of its listing on Binance. Interestingly, today’s price rise seems to parallel with the announcement of futures trading, a trend also observed in other tokens after they were listed.

Yesterday, it was reported by CoinGape Media that the price of Aavegotchi (GHST) increased by almost 37% following its listing on Binance futures. Additionally, another report highlighted that the value of Catizen (CATI), a play-to-earn crypto project based on Telegram, surged significantly upon its exchange debut. Together, these events support the price surge observed in LOKA today.

Read More

2024-09-24 14:57