Binance has once again stirred the cryptocurrency market with its latest announcement: the launch of futures contracts for three promising tokens, SWARMS, COOKIE, and ALCH. Scheduled for trading at different intervals today, these contracts will provide up to 75x leverage, marking a significant step in Binance’s strategy to enhance trading options and improve user experience.
Futures Trading Schedule
The newly announced perpetual futures contracts will be available as follows:
- COOKIE/USDT perpetual futures contract begins at 11:30 (UTC).
- ALCH/USDT perpetual futures contract begins at 11:45 (UTC).
- SWARMS/USDT perpetual futures contract begins at 11:15 (UTC).
These contracts are part of the Binance Alpha platform, which focuses on showcasing innovative Web3 projects.
Price Impact and Market Movements
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Following the announcement, the prices of all three tokens experienced notable fluctuations:
- COOKIE (Cookie DAO): Initially priced at $0.59, COOKIE saw a surge past $0.63 before correcting and stabilizing around $0.60. With a market cap of approximately $95 million, COOKIE serves as the utility token for the decentralized Cookie DAO ecosystem.
- ALCH (Alchemist AI): Before Binance’s announcement, ALCH traded at $0.18. After a brief rise to $0.19, it settled back at its original price. The token supports a no-code development platform aimed at transforming ideas into functional applications, boasting a market cap of $160 million.
- SWARMS: This token witnessed the most significant rise, jumping 40% to $0.51 after the announcement. Currently trading at $0.48, SWARMS has a market cap exceeding $515 million and continues to attract attention from crypto whales.
Binance’s Vision for the Future
Binance’s addition of these futures contracts reflects its commitment to diversifying trading instruments and highlighting projects that push the boundaries of Web3 innovation. The move not only supports market liquidity but also empowers traders with new opportunities to explore high-growth tokens.
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