- Binance HIVE futures launch offers up to 75x leverage, boosting HIVE price by 11%.
- BIO Protocol lists on Binance Launchpool, distributing 3% of genesis tokens.
- HIVE’s 24-hour trading high reaches $0.3752 following futures listing announcement.
Binance, the largest cryptocurrency exchange by trading volume, announced two significant developments: listing a new HIVE perpetual futures contract and integrating the BIO Protocol into the Launchpool. These initiatives correlate with the company’s plan to expand the range of trading pairs and present new projects to its users.
New HIVE Futures With 75x Leverage
Binance Futures announced the offering of an HIVE token perpetual contract with up to 75x leverage starting December 23. The new contract should help attract retail and institutional traders by offering increased exposure to the Hive token. The HIVE/USDT perpetual contract includes a multi-assets mode, enabling traders to use other assets, such as BTC, as margin.
The funding fee for the HIVE contract will settle every four hours, capped at a +2.00% or -2.00% rate. Based on market risk conditions, Binance also stated that it may adjust contract specifications, including tick size and margin requirements. With these additions, the exchange continues its mission to offer diverse trading products while emphasizing the importance of market risk assessments.
HIVE’s price surged 11% to $0.3752 following the announcement, with trading volume increasing significantly. The token’s price movement mirrors the impact of Binance’s Futures listings on market activity, as observed with other assets like MOCA, which saw substantial price and volume increases after its perpetual contract launch.
BIO Protocol Joins Binance Launchpool
Binance revealed BIO Protocol (BIO) as the 63rd project on its Launchpool platform, opening new avenues for user participation in the decentralized research space. BIO Protocol is a liquidity solution focused on Decentralized Science (DeSci). Designed to transform research and collaboration in the Web3 ecosystem.
Users can farm BIO tokens by staking BNB and FDUSD, with 99.6 million tokens (3% of the Genesis token supply) available as rewards. The farming period will run from December 24 to January 2, followed by the token’s listing on Binance on January 3. Trading pairs will include USDT, BNB, FDUSD, and TRY, offering various options for users.
BIO’s initial circulating supply will be approximately 1.29 billion tokens, representing 39.05% of its total genesis supply. This launch underscores Binance’s commitment to supporting innovative projects and fostering growth in the DeSci and Web3 sectors.
Market Reactions and Broader Impacts
Binance’s latest announcements have spurred notable market activity, with HIVE experiencing an 11% price increase. Such movements reflect Binance’s influence on token performance, especially after introducing Futures contracts or new listings.
In addition to HIVE, Binance has expanded its offerings for tokens like IDEX and TLM, further strengthening its position as a leading platform for cryptocurrency trading. These developments signal Binance’s ongoing efforts to cater to diverse investor needs while promoting innovation across the blockchain ecosystem.
The post Binance Launches HIVE Futures and BIO Protocol Farming on Launchpool appeared first on Crypto News Land.
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