Kadena Crypto Gains 23% as Binance Introduces Futures
Kadena Crypto Rises 23% amid Official Binance Announcement
In an exciting development for Kadena (KDA), the token’s price soared nearly 23% on Wednesday following a major announcement from Binance. The leading cryptocurrency exchange revealed that it would begin offering futures trading for Kadena, sparking optimism among investors about the coin’s potential future performance.
Kadena Crypto: Binance Introduces Futures Trading
On September 18, Binance officially announced the launch of the KDA/USDT USD-Margined perpetual contract, which would go live at 13:00 UTC. This move aims to offer users more trading options and enhance their experience on the platform. Kadena, a proof-of-work blockchain that aims to provide a scalable alternative to Bitcoin, is the underlying asset for the contract. Users will be able to trade with up to 75x leverage, and the tick size is set at 0.0001. Binance also set the funding rate cap at +2.00% / -2.00%. The exchange noted that it might adjust contract specifications based on market conditions.
Kadena Price Jumps 23%
Kadena’s price surged by nearly 23% in the 24 hours following the Binance announcement, reaching $0.6444. The day’s lowest and highest prices were recorded as $0.5092 and $0.7226, respectively. The 24 hour trading volume for Kadena also spiked by 2674.45%, reaching over $95,743,017, and the token’s market cap climbed 25.35% to $188,726,625. The rapid price movement reflects the positive sentiment among traders after the news of Binance’s futures listing.
Kadena Crypto: Future Prospects Look Promising
Historically, Binance’s futures listings have had a similar positive impact on other tokens, such as UXLINK and AERGO, which experienced significant price jumps following their futures trading launch. Kadena appears to be following the same trend, indicating strong market support and potential further gains for the token in the near future.
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