As a seasoned analyst with over two decades of experience in the dynamic world of finance and technology, I must say that Friday’s developments surrounding REI Network have piqued my interest significantly. Having witnessed numerous bull runs and bear markets, I can confidently say that Binance’s announcement of a USD-Margined Perpetual Contract for REI Network is a noteworthy event.
On Friday, investor enthusiasm swelled for the REI Network, a decentralized public blockchain infrastructure, as Binance, a major crypto exchange, disclosed an important update about it. Notably, the network’s native token saw a substantial price increase over the past 24 hours, following Binance’s announcement of future listings for it on their platform. Additionally, the recent collaborations involving the decentralized public blockchain framework have fueled optimism regarding the potential trajectory of REI token prices.
Binance Launches USD-Margined Perpetual Contract For Rei Network
On September 27, Binance announced that they are debuting a REIUSDT USD-Margined perpetual contract today at 11 UTC. The underlying asset for this contract remains the REI Network. The exchange has also set the tick size to 0.00001 and capped the funding rate at +2.00% / -2.00%. Users have the opportunity to trade the asset with up to 75x leverage.
Binance Futures is broadening its trading options and enhancing user experience, as confirmed by the leading cryptocurrency exchange. However, they also noted that adjustments might be made to their perpetual contract, considering market risk factors. These possible alterations could impact the funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements. Interestingly, this announcement seems to have sparked a positive response in the token market.
Token Price Soars Nearly 20%
After Binance announced that REI would be listed on their platform, the coin’s price skyrocketed by approximately 20% from its 24-hour low to $0.01229. The day’s lowest and highest prices were noted as $0.05876 and $0.07474, respectively. This positive reaction from traders caused the intraday trading volume to jump an impressive 872%, reaching $35,891,910. The recent upswing in price has also generated more optimism among investors since REI recently forged a partnership with AI technology.
The public blockchain system using a decentralized framework has teamed up with Solder AI to introduce scalable AI technology within their network. As expressed by the network’s community in a recent post, this partnership involves combining the high-performance and cost-effective REI blockchain with Solder AI’s advanced infrastructure, thereby enhancing AI capabilities and broadening opportunities for DeFi, GameFi, and NFT applications.
Today’s surge in prices for cryptocurrencies is consistent with the growth and expansion of the crypto exchange’s trading options, as seen from previous events. This coincides with the latest listing of Worldcoin futures, which has resulted in an approximately 27% increase in the price of WLD coin over the past week.
Additionally, the League of Kingdoms Arena (LOKA) token saw a significant 20% increase in price following its futures listing on the exchange. This surge aligns with the recent upswing in REI‘s price. Furthermore, the announced partnership adds to this positive momentum. Market observers are hopeful about future profits since the listing could attract more investment into the asset, increasing its value further.
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2024-09-27 17:37