1. Futures Contracts for NEIROUSDT and 1MBABYDOGEUSDT Begin Today
2. Binance Warns About NEIRO Token Distinction
3. Market Impact

Binance, one of the largest cryptocurrency exchanges by trading volume, announced the launch of perpetual futures contracts for NEIROUSDT and 1MBABYDOGEUSDT. These contracts will be available for trading with leverage up to 75 times.

Futures Contracts for NEIROUSDT and 1MBABYDOGEUSDT Begin Today

According to the official announcement from Binance, the NEIROUSDT perpetual futures contract will commence today, September 16, 2024, at 14:30 UTC. Following that, the 1MBABYDOGEUSDT perpetual futures contract will open for trading at 14:35. The maximum funding rate during the launch of these futures contracts will be +/- 2 percent. The funding fee will be calculated and paid every four hours, ensuring frequent adjustments for traders.

Binance Warns About NEIRO Token Distinction

Binance emphasized that the NEIROUSDT perpetual futures contract is linked to the 'First Neiro On Ethereum' (NEIRO) token, with the contract address being 0x812ba41e071c7b7fa4ebcfb62df5f45f6fa853ee. This indicates that it represents a different token from the NEIROETH perpetual futures contract listed on September 6, 2024, with the address 0xee2a03aa6dacf51c18679c516ad5283d8e7c2637. The warning aims to prevent confusion between the two NEIRO tokens.

Market Impact

Binance’s prior announcement regarding the listing of NEIRO, BABYDOGE, and TURBO on its spot market acted as a catalyst for price surges in these altcoins. The announcement of perpetual futures contracts for NEIRO and BABYDOGE further fueled this upward trend. As of the time of this report, NEIRO was trading at $0.0003244, showing over a 600% increase, while BABYDOGE rose by over 60%, trading at $0.000000001682.

The launch of futures contracts on the Binance platform continues to stimulate activity in the cryptocurrency market, providing new opportunities for traders.