In a riveting flip of occasions, Kadena (KDA) worth rocketed almost 30% on Wednesday amid an essential replace from crypto change large Binance. The crypto change colossus revealed that it’s commencing futures buying and selling for the token. This announcement has in flip sparked noteworthy investor optimism on the coin’s future worth actions.
Binance Unveils Kadena Futures Listing
In an official Binance announcement dated September 18, the CEX revealed that it’s itemizing the KDAUSDT USD-Margined perpetual contract in the present day at 13:00 UTC. This mover comes primarily to “expand the list of trading choices offered on the exchange and enhance users’ trading experience,” the announcement added.
The underlying asset stays Kadena, a proof-of-work blockchain that eyes providing a scalable model of Bitcoin. Users can get pleasure from buying and selling with as much as 75x leverage on the crypto. The tick measurement for the asset stays 0.0001. Further, the capped funding price was set at +2.00% / -2.00% by the change.
Nevertheless, Binance clarified in its announcement that it might regulate the specs of the itemizing contract forward based mostly on market threat circumstances. The potential modifications might embody changes within the funding charge, tick measurement, most leverage, preliminary margin, and upkeep margin necessities.
Overall, the announcement has reverberated optimism for Kadena throughout the broader market, as one of many top crypto exchanges lists it.
Token Price Soars 30%
At press time, KDA worth famous features value 29.59% previously 24 hours and is at present buying and selling at $0.6527. The coin’s intraday high and low had been recorded as $0.5018 and $0.6757, respectively.
KDA’s 24-hour buying and selling quantity surged a whopping 758.74% over the previous day to $$18,415,678. Meanwhile, the coin’s market cap rocketed 28% to $186,287,375 as of reporting. Traders seem to have reacted positively to the Binance futures itemizing announcement, as illustrated by the abovementioned information.
Simultaneously, Coinglass information illustrated a whopping 125% surge within the token’s futures OI. Further, the derivatives quantity accompanied, hovering 2348%. Coupled with the value upswing, the coin’s stats replicate an uptrend in the present day.
As seen beforehand, the CEX’s futures contract listings seem to have a optimistic impression on a token’s worth. UXLINK price extended weekly gains to 110% with its futures itemizing on the change.
Simultaneously, AERGO futures listing sparked a briefly sustained upward motion within the coin’s worth. This phenomenon aligns with Kadena’s worth upswing witnessed in the present day.
Coingape Staff
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