BNB Chain-based meme coin Simon’s Cat nabbed substantial investor consideration on Monday as CAT value skyrocketed towards the backdrop of a list by a number one cryptocurrency alternate. Notably, the token’s value soared over 40% intraday as Binance unveiled a perpetual contract launch for its customers. In the meantime, market fanatics proceed to take a position whether or not the coin might maintain an upward momentum in gentle of its current futures itemizing.
CAT Baggage Main Itemizing Reverberating Optimism Over Value Forward
In keeping with an official Binance announcement dated October 21, the futures buying and selling division of the crypto alternate is ready to launch 1000CATUSDT perpetual contract at the moment at 12:30 UTC. As per the announcement, customers can leverage as much as 75x whereas buying and selling the asset on the platform. The growth of commerce choices for the BNB Chain-based meme token aligns with the alternate’s plans to faucet into rising markets and develop the record of selections supplied to customers.
Additional, it’s noteworthy that the tick dimension for the asset is ready at 0.00001, per the announcement. Additionally, the capped funding charge for Simon’s Cat is +2.00% / -2.00%. Nevertheless, Binance could modify the specs of the aforementioned perpetual contract once in a while, topic to market threat circumstances. These potential modifications might embody changes within the funding payment, tick dimension, most leverage, preliminary margin, and upkeep margin necessities. Nonetheless, the announcement by the leading crypto exchange has ignited bullish torrents for the token, as seen by its current value trajectory.
Meme Coin Soars 40%
CAT value soared by a staggering 40% at the moment in gentle of the itemizing announcement talked about above. The coin’s intraday high and low had been registered as $0.00002296 and $0.00003555, respectively. Intriguingly, the broader market seems to have reacted bullishly to the itemizing announcement because the crypto’s 24-hour buying and selling quantity surged 330% to $108 million. Additional, the weekly and month-to-month charts additionally underscored features value 28% & 81%, respectively.
Furthermore, Coinglass knowledge confirmed that 1000CAT futures OI surged 92% t0 $15.80 million at the moment. Additional, even the derivatives quantity upsurged 397% to $35.53 million, underscoring heightened investor curiosity within the asset. This bullish momentum additionally aligns with the abovementioned itemizing.
In the meantime, one other report by CoinGape Media spotlights that Simon’s Cat price skyrocketed almost 45% the earlier month as Bybit commenced futures buying and selling for the token. Total, crypto market fanatics proceed to eye the meme coin for additional value motion shifts in gentle of the itemizing.
Coingape Workers
CoinGape includes an skilled crew of native content material writers and editors working around the clock to cowl information globally and current information as a reality relatively than an opinion. CoinGape writers and reporters contributed to this text.
Disclaimer: The introduced content material could embrace the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability on your private monetary loss.
✓ Share: