Recent updates from the largest cryptocurrency exchange, Binance, have led to a considerable rise in the prices of FLOCK and SKY tokens. This article discusses the details of these updates and their market impact.
Binance Updates and Their Impact
Binance launched perpetual contracts for FLOCK/USDT and SKY/USDT with leverage up to 75x, significantly enhancing user options. These perpetual contracts offer potential for substantial profits but also carry liquidation risks in case of adverse market movement.
Market Outlook for FLOCK and SKY
Following the announcement of new contracts, FLOCK's price reached a new record of $0.66, before retracting to $0.41, representing a 55% increase within 24 hours. Meanwhile, SKY saw a more modest rise of about 7%, currently trading around $0.07.
FLOCK Gains Support from Other Exchanges
The cryptocurrency FLOCK has garnered support not only from Binance but also from other exchanges. Coinbase added support for the asset on the Base network, while Upbit announced the listing of the FLOCK/KRW pair. This support increases FLOCK's liquidity and enhances its reputation in the crypto market.
Thus, the recent updates and backing from major exchanges have contributed to the price increase of FLOCK and SKY, highlighting their growing significance in the cryptocurrency market.
