Binance has recently announced the launch of the BAN/USDT perpetual contract, offering traders the opportunity to use up to 75x leverage when trading the Comedian (BAN) token. This move comes on the heels of PNUT’s explosive surge of 2,287% after its spot listing on Binance, sparking speculation about whether BAN can replicate PNUT’s success in the futures market.
The BAN token, a trendy meme coin on the Solana network, has the potential for significant growth following Binance’s listing announcement. With the introduction of USDⓈ-Margined BAN/USDT Perpetual Contracts, traders can now access high-leverage trading opportunities with features such as a maximum leverage of 75x, settlement in USDT, a capped funding rate of ±2.00%, and 24/7 trading hours. Binance’s Multi-Assets Mode further enhances flexibility for traders by allowing them to use collateral such as BTC.
While the high leverage offered by the BANUSDT perpetual contract presents the possibility of substantial profits, it also comes with increased risk. Binance has emphasized that it may adjust contract specifications based on market conditions and reminded users that a futures listing does not guarantee a spot listing.
Following PNUT’s remarkable rally post-spot listing, market participants are keen to see if BAN can follow a similar trajectory. Futures markets are known to amplify volatility, particularly for meme coins influenced by market sentiment. However, the dynamics of a futures listing differ from a spot listing, leading traders to adopt a cautious approach to observe BAN’s price movements. At the time of writing, BAN is trading at $0.331, reflecting an 86% increase in the last 24 hours.
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