The cryptocurrency space is ablaze with excitement as Binance makes major announcements and expands its offerings to enhance the trading experience. From the introduction of new trading pairs to updates to Binance Simple Earn, the platform is proving to be a dynamic force in the crypto space. On the other hand, the permanent futures contract announcement for WIF coin attracted attention. Here are the details…
Binance announces perpetual futures contract for WIF coin
In a strategic move to expand trading options on Binance Futures, the platform will launch the USDⓈ-M WIF Perpetual Futures Contract on January 18, 2024 at 17:15 UTC. This development catalyzed a remarkable rise in Dogwifhat, a meme coin on the Solana blockchain, which witnessed a 35% increase in value in the last 24 hours, surpassing the performance of Dogecoin and Shiba Inu.
As of the latest update, Dogwifhat is trading at $0.45, outperforming SHIB and DOGE. This increase is attributed to the expectation of the new futures contract and the associated 50x leverage. The market response has been extraordinary; Transaction volumes increased by 72% compared to the previous day, reaching 133 million dollars.
Binance introduces new products for APT and STX
Shifting gears to Binance Simple Earn, the platform is pleased to announce the Locked Products update on Aptos (APT) and Stacks (STX). Starting January 18, 2024 at 15:00 ET, users can subscribe to APT and STX Locked Products with the potential to earn rewards of up to 9.9% APR. Subscription is on a first-come, first-served basis and rewards are distributed daily.
This move by Binance further strengthens its commitment to offering diverse and rewarding investment opportunities to its users. The Locked Products update offers users the chance to tap into the growth potential of Aptos and Stacks.
New trading pairs have emerged
In other news, Binance introduced new trading pairs in the spot market. In an ongoing effort to improve trading options, Binance Spot will begin trading for spot trading pairs ENS/FDUSD, ETC/FDUSD, SUI/USDC, and TIA/USDC on January 19, 2024 at 11:00 AM ET. Additionally, Binance will enable Spot Grid, Spot DCA and Rebalance Bot for XAI/USDT. It will also offer Trading Bot services for selected pairs including Spot Algo Orders for ENS/FDUSD, ETC/FDUSD, SUI/USDC, TIA/USDC. As Binance continues to innovate and expand its offerings, the cryptocurrency community looks forward to emerging developments, anticipating further growth and excitement in the ever-evolving crypto markets.
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