Binance Futures has recently revealed its plan to list 1000000MOGUSDT perpetual contracts with up to 75X leverage on its platform. This move has caught the eyes of investors eyes, and many anticipate the development to trigger a MOG price rally in the coming days. Usually, the positive announcements from these leading crypto exchanges tend to boost the market sentiment, which in turn boosts the crypto prices.
Binance Futures To List 1000000MOGUSDT Perpetual Contract
In a recent announcement, Binance said that it plans to list MOG Coin with up to 75X leverage, showcasing the exchange’s commitment to expand its trading options. Besides, being one of the top crypto exchanges, the announcement also sparked investors’ optimism, fueling discussion over a potential MOG price rally.
With Mog Coin’s 1000000MOGUSDT perpetual contract, traders will be able to access a range of risk-adjusted trading possibilities. According to the announcement, the contract will be settled in USDT, with a tick size of 0.0001, and capped funding rates at +2.00% and -2.00%.
Meanwhile, high-leverage offerings are appealing to experienced traders seeking potential large returns, yet they come with significant risk. By listing MOG with 75X leverage, the exchange aims to attract active traders who are confident in MOG price prospects.
In addition, this listing also supports the exchange’s Multi-Assets Mode, which allows traders to use other cryptocurrencies, like Bitcoin, as collateral to trade MOG. This multi-asset flexibility provides traders with greater control over their collateral and margin requirements, further enhancing the platform’s appeal.
Will MOG Price Rally?
Despite the positive announcement from Binance, MOG price was down nearly 3% today and exchanged hands at $0.000002063, while its trading volume rocketed 173% to $128.15 million. However, initially, the meme coin rallied following the development. Besides, the CoinGlass data showed that MOG Coin Futures Open Interest rose 2.35% to $685K during writing, indicating growing market attention towards the crypto.
Meanwhile, the listings or any other positive announcements by the leading crypto exchanges often trigger a rally in the crypto prices. For context, COW and CETUS prices rallied recently after a similar listing announcement, suggesting that positive listing news can significantly impact investor sentiment.
Having said that, MOG’s debut on the exchange’s Futures could represent a unique opportunity, with the coin potentially poised for upward momentum. However, investors should exercise due diligence as the top meme coins often show more volatile trading than the other traditional assets.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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