The cryptocurrency market is going through interesting times. After the spot Bitcoin ETF, the SEC also gave the green light to the spot Ethereum ETF. This helped cryptocurrencies gain worldwide acceptance. While the market is waiting for a new bull run, some meme coins have already exploded. One of these was the meme coin Turbo, which recorded an 11X increase on a monthly basis. Now, the leading crypto exchange Binance has given the good news of listing this meme coin in futures transactions.
Binance will list TURBO in futures, the token is on the rise!
cryptokoin.comAs you follow from , the market is waiting for an opportunity to gain new momentum. However, there are also those who seize this opportunity with some surprise tokens. Turbo (TURBO), a meme coin ranked 242nd by market cap, is one of them. Interestingly, this token managed to make 11X on a monthly basis. Following this success, the giant crypto exchange Binance decided to list TURBO in futures transactions. In its announcement, Binance announced that it will launch the TURBO perpetual contract with up to 50x leverage. The exchange will launch the USDT margin TURBO perpetual contract today at 18:30 ET with a maximum leverage of 50x. In this context, Binance made the following statement:
Dear Binance users, Binance Futures will launch the USDT margin TURBO Perpetual Contract on 2024-05-30 at 18:30 ET with up to 50x leverage to expand the list of trading options offered on Binance Futures and improve the trading experience of users.
Following the development, the token price started to rise from the level of $ 0.005678, where it fell during the day. Meanwhile, the token has gained 235% on its weekly chart. Moreover, it has seen a phenomenal rise of 1140% in the monthly time frame. At the time of writing, TURBO was changing hands at $0.006526, losing 8.3% on a daily basis.
Some details about the listing
Binance noted that, depending on market risk conditions, it may adjust the features of the above-mentioned futures contracts from time to time, including the funding fee, tick size, maximum leverage, initial margin and/or maintenance margin requirements. Additionally, the exchange issued some warnings to users regarding the following:
Multi-Asset Mode allows users to buy and sell the above-mentioned futures contracts across multiple collateral assets, subject to applicable margin deductions. For example, when Multi-Asset Mode is enabled, users can use BTC as collateral when trading on the TURBOUSDT Perpetual Contract. The TURBOUSDT Perpetual Agreement is subject to the terms of the Binance Terms of Use and the Binance Futures Services Agreement.
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