Earlier today, Binance announced the launch of two new futures contracts for digital assets FUNToken and Enzyme, triggering a significant price spike.
Binance Futures Listing Announcement
Binance revealed its plans to launch two Perpetual Contracts: FUNUSDT and MLNUSDT, both with leverage up to 50x. The announcement led to a rise in the prices of both coins.
FUN Price Trajectory After Announcement
FUN's market cap was $52 million before Binance's announcement and surged to over $61 million afterwards, before correcting to around $54 million. The price increased by over 1% following the announcement.
MLN Price Trajectory After Announcement
At the time of the announcement, MLN was trading at $11 with a market cap of $32.5 million. After the announcement, the price rose to $13.1 with a market cap over $39 million, before stabilizing at $12.2 and a market cap of $36.3 million. The surge was over 17%.
Binance's announcement of futures for FUNToken and Enzyme significantly impacted the market, leading to price increases in the digital assets. Traders and investors continue to monitor the developments.
