Binance has recently launched the BAN/USDT perpetual contract, offering traders the opportunity to use up to 75x leverage. This move comes on the heels of PNUT’s incredible 2,287% surge after its spot listing on Binance. Market participants are now speculating whether the BAN token, a meme coin on the Solana network, can replicate PNUT’s success in the futures market.
The price of the Comedian (BAN) token could experience significant growth following Binance’s announcement, similar to PNUT’s rise. Binance’s expansion of its futures market to include USDⓈ-Margined BAN/USDT Perpetual Contracts opens up new trading opportunities for users.
PNUT’s recent surge on Binance’s spot market saw the meme coin’s value skyrocketing from $0.1047 to $2.50 in just three days, showcasing the potential for explosive growth in the meme coin market. With the introduction of the BAN token listing, traders are eager to see if it can follow in PNUT’s footsteps.
The BANUSDT perpetual contract offers traders a maximum leverage of 75x, with USDT as the settlement asset and a capped funding rate of ±2.00%. Trading is available 24/7, providing flexibility for users to capitalize on market movements. Binance’s Multi-Assets Mode allows traders to use collateral such as BTC, enhancing trading options.
While the high leverage offers the potential for significant profits, it also comes with increased risk. Binance may adjust contract specifications based on market conditions, emphasizing the importance of risk management for traders. The exchange clarifies that a listing on Binance Futures does not guarantee a spot listing.
As traders monitor BAN’s price movements, the question remains whether it will replicate PNUT’s success. Futures markets can amplify volatility, especially for meme coins driven by market sentiment. While BAN’s futures listing could lead to notable price fluctuations, it differs from a spot listing, introducing new dynamics to the market.
At the time of writing, BAN has surged by 86% in the last 24 hours, trading at $0.331. Traders are adopting a cautious approach to observe how BAN performs following its futures listing on Binance.
Disclaimer: The information provided in this article is for educational purposes only and should not be considered financial advice. Readers are advised to exercise caution and conduct their own research before making any investment decisions. Coin Edition is not liable for any losses incurred from actions taken based on the content provided.