Santos FC Fan Token saw an astonishing 100% increase in value after Binance exchange released USD-Margined perpetual contract.
The Santos FC Fan Token saw significant investor interest on Monday, with SANTOS prices climbing over 100% intraday due to a major exchange listing.
Crypto exchange giant Binance announced its token listing, which has fueled a surge of optimism around this fan cryptocurrency.
Market analysts are now speculating whether this listing could help SANTOS maintain an upward trend.
Binance Listing Boosts Sentiment for Santos FC Fan Token
In its effort to expand trading options, Binance revealed it would list the SANTOS USD-Margined perpetual contract on October 28.
According to Binance’s announcement, the exchange’s futures trading section will introduce the SANTOSUSDT contract, allowing users up to 75x leverage.
Starting today at 14:00 UTC, Binance’s large user base can begin trading futures on this fan token.
The exchange set the digital asset’s tick size at 0.001, with a capped funding rate of +2.00% / -2.00%.
However, Binance noted that the perpetual contract could face further adjustments based on evolving market risks, potentially impacting factors like the funding fee, tick size, leverage limit, and margin requirements. Nonetheless, this high-profile listing has had a positive effect on SANTOS’s price.
Fan Token Surges 100%
With Binance’s announcement, SANTOS saw an impressive 100% price increase from its 24-hour low, now trading at $6.07.
The token’s lowest and highest prices within the day were $3.20 and $7.99, respectively.
Additionally, SANTOS’s 24-hour trading volume surged by 1,552% to reach $220.72 million, reflecting traders’ positive response to the listing news.
The sharp rise in SANTOS’s price is mainly attributed to the futures listing.
Recently, a similar scenario occurred with Solana’s meme token Moo Deng, which soared 170% since its futures contract launched on Binance on October 25.
This aligns with the positive momentum seen in SANTOS following its futures listing, suggesting potential bullish movements for the fan token going forward.
