The largest cryptocurrency exchange platform by trading volume is set to introduce futures trading for a lesser-known altcoin that has surged by 200% this month.
In a recent update, crypto exchange Binance announces that it will offer futures contracts with leverage of up to 75x for UXLINK, a blockchain-based decentralized social network.
“Binance Futures will launch the UXLINK/USDT perpetual contract…
The maximum funding rate for this perpetual contract at launch is +2.00%/-2.00%, with a funding fee settlement occurring every four hours.”
Currently, UXLINK is trading at $0.454, representing a threefold increase since September 1st, when its price was $0.151. The project has a market capitalization of $78.684 million, placing it as the 453rd largest cryptocurrency.
According to UXLINK’s white paper, the initiative aspires “to be the foremost social platform and infrastructure, prioritizing genuine real-world, bi-directional connections.”
“UXLINK includes a variety of user-friendly Dapps (decentralized applications) that are seamlessly integrated with [messaging platform] Telegram and other real-world social platforms. These applications facilitate onboarding, graph creation, group tools, and socialized Web3 interactions. An innovative element is the encryption and standardization of real-world groups, converting them into operational units for Web3. This pioneering strategy positions groups at the heart of Web3 applications, marking a significant advancement in social and virtual interaction technologies.”
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