Following a recent rally, the crypto market entered a consolidation phase, with Bitcoin and most altcoins holding steady. However, certain tokens continue to experience explosive growth fueled by positive news. Major crypto exchange Binance recently announced the listing of a popular meme coin in its futures market, causing the token to double in value almost instantly.
Binance to Launch MOODENG Perpetual Contracts, Meme Coin Rockets!
As reported by The Bit Journal, Binance revealed that it will add MOODENGUSDT perpetual contracts with up to 75x leverage on October 25, 2024, at 11:00 AM (UK time). The exchange issued an official statement:
“Dear Binance users, Binance Futures is expanding its trading options and enhancing the trading experience by introducing the MOODENGUSDT Perpetual Contract with up to 75x leverage on October 25, 2024, at 11:00 AM.”
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Following the listing announcement, MOODENG’s price skyrocketed from $0.070 to $0.16, marking a 140% gain on the day and currently trading at $0.1578. Trading volume surged by an extraordinary 157%, reflecting heightened interest from investors and traders alike.
Binance CEO Comments on Tigran Gambaryan’s Release
Binance CEO Richard Teng expressed relief and gratitude for the recent release of Tigran Gambaryan, thanking him for his resilience. Teng emphasized that Gambaryan’s health remains a priority, noting his appreciation for the medical care Gambaryan received. Teng also highlighted Binance’s commitment to transparency and cooperation with global regulators. Despite regulatory challenges in Nigeria, Teng underscored Binance’s optimism about the future of blockchain technology in Nigeria and the digital finance sector.
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