Binance has announced the launch of futures trading for Syscoin (SYS) with leverage up to 50x, which has led to a notable increase in the asset's price.
Futures Trading Begins for Altcoin
Binance made an announcement that excited futures investors. The exchange announced that Syscoin (SYS), which ranks 339th in market cap, will be listed in futures trading with up to 50x leverage. SYS trading starts today at 15:30 and will be supported up to 50x leverage. Following this announcement, the price visibly increased.
Current Price of SYS
After the news announcement, attention turned to the SYS price. The price clearly increased. Before the news, the price was around $0.11, and within minutes, it rose by 79% to reach $0.15. The price increase also triggered a rise in market cap, which exceeded $120 million at the time of writing. Finally, the trading volume also supported the sharp price increase, rising by 343% to surpass $80.4 million.
Conclusion
The launch of futures trading for Syscoin on Binance has proven to be successful, causing a significant increase in price and trading volume. This event highlights the importance of futures trading in the cryptocurrency market and Binance's efforts to expand its trading options.
The launch of futures trading for Syscoin on Binance is an important step in the exchange's development and demonstrates investors' interest in new trading opportunities.
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