Useless Coin (USELESS) has emerged as the leader in liquidations among tokens due to the announcement of a perpetual futures market on Binance.
Useless Coin's Rise and Liquidations
The Useless Coin token led liquidations in the past hour, with over $316.65K wiped from short positions following a rapid price surge. USELESS jumped to a one-week high of $0.31, reflecting its usual volatility range. More than $311K was liquidated in short positions while just $5K was liquidated in long positions.
Market Activity and Trading
USELESS continues to build its open interest at around $28.7M. The majority of trading activity occurs on Gate.io, with smaller pairs available on Orca and Raydium. The token showcases its ability to generate significant hype, starting at around $0.012 in May and gaining over 2,175% year-to-date.
Prospects and Status of USELESS
USELESS is actively involved in the LetsBonk ecosystem and is already a Binance Alpha token, enhancing its visibility. The token targets a valuation of $1B, a golden standard for meme tokens. Since its launch, USELESS aims for a strong status and audience expansion.
Useless Coin's significant market dynamics and engaged community may lead to continued interest and valuation growth.
