The cryptocurrency exchange Binance announced the listing of perpetual contracts for Puffer and Port3 Network, leading to a notable price increase for both tokens.
Launch of Perpetual Contracts on Binance
On June 3, Binance announced the launch of perpetual contracts for PUFFER and PORT3 tokens. This expansion of trading options for users is being implemented on the Binance Futures platform. Users will be able to start trading the PUFFERUSDT contract with up to 50x leverage starting at 08:30 UTC on June 4, and the PORT3USDT will be available at 08:45 UTC that same day.
Price Surge of PUFFER Token
Following the listing announcement, the price of PUFFER surged by 25%, reaching $0.2393 at the time of writing. Over 24 hours, the price fluctuated between $0.1894 and $0.2427. Trading volumes increased by 4%, indicating growing interest among traders. An analyst named CW estimated that PUFFER could rise to $0.32 if it breaks through the sell wall at $0.24.
PORT3 Price Dynamics
The price of the PORT3 token also rose following the announcement but later eased by 9%. Earlier in the week, it rose by more than 50%. At the time of writing, trading volume had decreased by more than 25%, indicating low interest among traders. Over 24 hours, the price fluctuated between $0.04867 and $0.07895.
The launch of perpetual contracts for Puffer and Port3 on Binance confirmed interest in these assets, reflecting in their prices. Analyzing current trading volumes can aid investors in decision-making.
