As a seasoned crypto investor with a knack for spotting promising projects and a keen eye for market trends, I must admit that UXLINK’s recent surge has piqued my interest. Having witnessed the meteoric rise of several altcoins, I can’t help but feel a sense of déjà vu with this token. The Binance listing announcement, coupled with the launch of USD-Margined Perpetual Contract, seems to have ignited a bullish momentum for UXLINK, much like how a lit match can set a whole forest ablaze.
On Monday, UXLINK, a web3 social platform, drew considerable attention from investors. This interest led to an impressive surge in its price, extending its weekly gains to more than 100%. The announcement by Binance, a leading crypto exchange, regarding the potential listing of UXLINK further fueled optimism about the token. Interestingly, Binance has recently indicated plans to list futures for UXLINK’s native coin, which has ignited hopeful predictions about the asset’s future price movement.
Binance Launches USD-Margined Perpetual Contract For UXLINK
As a researcher, I’d like to share that on September 15th, as announced officially by Binance, their futures exchange introduced the UXLINKUSDT (USD-Margined) perpetual contract at 15:00 UTC. This move gives their vast user community the opportunity to trade this asset with up to 75 times leverage.
Additionally, it’s important to note that the funding rate for the token was fixed between -2.00% and +2.00%. This was clearly explained in their recent announcement. The underlying asset for this perpetual contract continues to be the native token of the Web3 social platform, UXLINK.
Furthermore, Binance mentioned that they might modify the details of the specified futures contract in response to market risk factors. These modifications could include alterations to the funding fee, the smallest price change (tick size), maximum borrowing power, initial deposit, and upkeep margin limits.
Consequently, it seems that the cryptocurrency exchange titan’s addition of the token to its futures listings has sparked a surge upward in its value.
Token Solidifies Gains With Listing
As an analyst, I find it significant that UXLINK’s price rose to $0.3915 today, representing a 0.65% increase primarily influenced by broader market trends. However, delving into the long-term perspective, the chart suggests an upward trajectory for this coin. To be precise, since September 15, UXLINK’s value has jumped approximately 10%, coinciding with Binance’s announcement. More impressively, the weekly chart indicates a staggering 110% growth in its value. Furthermore, the 24-hour trading volume experienced a substantial surge of 68%, reaching $510.5 million today.
For now, the detailed timeline of the asset indicates a remarkable increase in the option interest for the coin, sitting at approximately $47.14 million according to Coinglass statistics. Additionally, today’s derivatives trading volume reached an impressive $898.24 million.
There’s still a lot of talk about a possible increase in value for the coin, mainly because it has been listed on futures. In the past, we’ve seen AERGO’s price rise following its futures listing on a cryptocurrency exchange, generating interest from market observers. As a result, crypto enthusiasts are closely watching UXLINK, hoping to see how its futures listing might impact future price changes.
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2024-09-16 11:12