Binance, a leading cryptocurrency exchange, announced on September 24 that it will introduce the LOKAUSDT perpetual contract today at 11:30 UTC. This news has led to a notable 20% increase in the price of the LOKA token.
In its announcement, Binance revealed that the LOKA perpetual contract will offer leverage up to 75x. The exchange has set a funding rate range of +2.00% / -2.00% and a tick size of 0.0001. Binance also noted that adjustments to the contract may occur based on market risk factors, which could include changes to the funding rate, tick size, leverage, and margin requirements.
League of Kingdoms (LOKA) is a blockchain-based MMO strategy game within a play-to-earn (P2E) ecosystem, allowing players to earn real income through gameplay. This innovative model has garnered significant interest from both gamers and crypto investors, boosting LOKA’s popularity.
The Binance listing has greatly influenced market sentiment for the LOKA token, resulting in a nearly 20% price rise. Traders have shown strong enthusiasm, with intraday trading volume for LOKA surging by approximately 155%.
At the time of this report, LOKA was trading at around $0.2619, marking an increase from a 24-hour low of $0.2236 and nearing a high of $0.2959. The trading volume reached $22.74 million, reflecting heightened interest from traders following the Binance listing announcement. This trend aligns with historical patterns where new futures listings often lead to favorable price movements.
LOKA’s performance follows similar trends seen with other cryptocurrencies on Binance. For instance, Aavegotchi (GHST) saw a nearly 37% price jump post its futures listing, and the Telegram-based P2E project Catizen (CATI) also experienced notable gains upon its Binance debut.
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