Binance announced the launch of USD-Margined perpetual contract for League of Kingdoms Arena (LOKA), resulting in over 20% gains.
Binance’s support for the League of Kingdoms Arena (LOKA) play-to-earn (P2E) crypto project has led to a surge in market optimism, with LOKA’s price climbing nearly 20% after the exchange announced its futures listing.
Traders reacted positively, driving the token’s intraday trading volume up by almost 155%.
Binance Launches LOKA Futures Trading
On September 24, Binance officially announced the launch of the LOKAUSDT perpetual contract, set to go live at 11:30 UTC.
This move aims to expand the range of trading options available on the platform.
Binance disclosed that users can trade the asset with up to 75x leverage, with a capped funding rate of +2.00% / -2.00%. The tick size for trades was set at 0.0001.
However, Binance also noted that the perpetual contract could face adjustments due to market risks.
These changes might affect the funding fee, tick size, leverage limits, and margin requirements.
League of Kingdoms (LOKA) is a blockchain-based Massively Multiplayer Online (MMO) strategy game within a play-to-earn ecosystem, enabling players to earn income through in-game participation.
P2E Token Price Soars 20%
At the time of writing, LOKA’s price has jumped over 20% from its 24-hour low, reaching $0.2723. The token’s intraday low was $0.2236, while the high touched $0.2959.
Binance’s listing announcement also triggered a 155% surge in LOKA’s 24-hour trading volume, now at $22.74 million.
The price rally coincides with the futures listing announcement, a pattern seen with other tokens post-listing.
For instance, Aavegotchi (GHST) saw a 37% price jump after its Binance futures listing, and the Telegram-based P2E crypto project Catizen (CATI) experienced a significant price spike upon its debut. These trends affirm the LOKA price surge witnessed today.
