Deutsch한국어日本語中文EspañolFrançaisՀայերենNederlandsРусскийItalianoPortuguêsTürkçePortfolio TrackerSwapCryptocurrenciesPricingIntegrationsNewsEarnBlogNFTWidgetsDeFi Portfolio TrackerOpen API24h ReportPress KitAPI Docs

Premium is discounted today! 👉 Get 60% OFF 👈

MemeCore (M) Spikes 130% as Binance Futures Launches 50x Leverage Perpetuals

3d ago
bullish:

0

bearish:

0

Share

Binance, the world’s largest crypto exchange by trading volume, has announced the launch of MemeCore (M). This initiative reflects the exchange’s ongoing efforts to expand its offerings and provide traders with more options.

Following this announcement, MemeCore (M) experienced a remarkable 130% surge in its market price in the last 24 hours. According to data from Coingecko, the asset is currently trading at $0.1606.

Moreover, the token’s 24-hour trading volume exceeds $49 million. This metric represents a 1,771.80% increase, signalling a notable rise in market activity.

Binance Launches MemeCore (M)’s Futures Trading 

Meanwhile, Binance’s announcement revealed that the token was listed on its futures market by 09:30 UTC. The USD-margined M/USDT perpetual contract will enable traders to leverage their positions up to 50x. This presents substantial potential for both gains and risks.

The contract is settled in USDT and features a capped funding rate of ±2.00% / -2.00%. The funding fee settlement also occurs every four hours.

“Based on market risk conditions, Binance may adjust the specifications of the aforementioned Futures contract(s) from time to time, which include the funding fee, tick size, maximum leverage, initial margin, and/or maintenance margin requirements,” the exchange stated.

This development is anticipated to attract a wider range of traders seeking to capitalize on market volatility. The perpetual contract structure is popular among traders. This is due to its flexibility and the ability to hold positions for an extended time.

It is worth noting that futures and spot token listings are distinct. Thus, MemeCore (M) launch on Binance Futures does not guarantee that it will be listed on the exchange’s Spot.

Additionally, MemeCore is currently hosting a community-driven engagement campaign. This initiative aims to boost participants’ social media traction and visibility within the community. Scheduled to conclude on July 24, this event requires users to complete specific social tasks.

To participate, you need to promote the token on X and tag MemeCore’s official accounts. Next, copy the link to your X post and join the project’s Discord channel. Thereafter, visit the Discord Public-Social-Farming channel to submit the link.

Participants will earn rewards through Kaito Earn, a part of Kaito AI’s “attention-to-earn” ecosystem. This platform leverages its Yaps engine to reward users with points (Yaps) that are convertible into tokens.

Furthermore, the project emphasizes that users’ nicknames on both social media accounts must be the same or similar. This is to ensure a seamless verification process of all submissions.

What is MemeCore?

MemeCore is a layer-1 blockchain designed to usher in Meme 2.0. Meme 2.0, on the other hand, is an initiative aimed at making memecoins a lasting cultural and economic force, rather than a fleeting trend.

The MemeCore network is compatible with the Ethereum Virtual Machine (EVM). Therefore, users and developers familiar with the Ethereum network can easily onboard to the platform. The project combines Proof-of-Stake and Authority features, rewarding not only staking but also engagement and validation.

Validators and delegators earn tokens based on participation, block production, and on-chain activity.  In addition to rewards earned through block creation, validators also receive a portion of all MRC-20 tokens generated on the network.

The project has a unique mechanism called the MemeCore. Created alongside the launch of each memecoin, this feature is designed to fuel the viral economy by rewarding users who contribute to the longevity of the memecoin’s life cycle.

The post MemeCore (M) Spikes 130% as Binance Futures Launches 50x Leverage Perpetuals appeared first on Cointab.

3d ago
bullish:

0

bearish:

0

Share
Manage all your crypto, NFT and DeFi from one place

Securely connect the portfolio you’re using to start.