The cryptocurrency market opened the week in the red, with leading crypto Bitcoin dropping below $64,000 and continuing to consolidate. While most of the altcoin market followed suit, some exceptions made impressive gains following exciting announcements. Binance, the largest cryptocurrency exchange in the world, revealed that it would be launching perpetual futures for a new altcoin with up to 75x leverage. This news sent the token’s price skyrocketing.
Binance to Launch COS Perpetual Futures, Altcoin Price Surges!
As reported by The Bit Journal, the market has been losing altitude as the new week unfolds, but projects and exchanges keep moving forward. On September 30, 2024, Binance announced it would be launching COSUSDT perpetual futures with a maximum of 75x leverage starting at 16:00 (UK time). Binance issued the following statement:
“Dear Binancians, to expand the range of trading options available on Binance Futures and improve the trading experience for users, Binance Futures will launch COSUSDT Perpetual Contracts with up to 75x leverage on September 30, 2024, at 16:00 (UK time).”
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Following the listing announcement, the COS token saw a significant price increase, soaring from $0.0075 to over $0.00863 in a matter of hours. As of this writing, COS is trading at $0.008632, up by more than 13% on the day. Meanwhile, trading volume surged by a staggering 327%, reflecting growing interest from investors and traders alike.
Binance to List EigenLayer with Seed Tag
On September 30, Binance also announced that it will be listing EigenLayer (EIGEN). Trading is set to begin on October 1, 2024, at 08:00 (UK time), with spot trading pairs available, including EIGEN/BTC, EIGEN/USDT, EIGEN/FDUSD. Binance users can now begin depositing EIGEN in preparation for trading, with withdrawals opening on October 2, 2024, at 08:00 (UK time).
Additionally, Binance emphasized that EigenLayer will be listed with a seed tag, highlighting the higher risk and volatility associated with the token. The listing drew significant attention in the broader market, with speculation on how this could positively impact EIGEN’s price. Meanwhile, major exchange Coinbase has already listed EigenLayer, further driving investor interest in this ERC-20 token.
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