The new futures contracts, offering up to 50x leverage, drove Voxies’ price up by 75% to $0.2446.
Binance, one of the most prominent cryptocurrency exchanges in the world, made big news today about Voxies (VOXEL), the native utility token of Voxie Tactics.
The cryptocurrency exchange has now made futures trading for the coin available, according to an official press release.
Participants in the cryptocurrency market have shown a large amount of interest in this new development, as evidenced by the fact that Voxies’ price experienced a staggering 75% increase in value after the listing announcement.
Binance announced today, August 20, that it will launch the USD-margined perpetual contract for VOXEL at 10:30 UTC. The cryptocurrency exchange disseminated the news. Users can enjoy trading in futures with up to 50 times leverage on the asset.
Blockchain development powers the development of Voxie Tactics, a turn-based tactical role-playing game. It is important to note that the underlying asset continues to be Voxies (VOXEL), which is the native token of the game.
In addition, the exchange established the capped financing rate within the range of +2.00% to -2.00%. As a result of this announcement, Volvo’s price spiked.The cryptocurrency exchange, on the other hand, disclosed that it might modify the listing’s parameters “based on market risk conditions.”
In addition, it is important to point out that high leverages encourage a greater number of market players to engage in the asset, which in turn increases the trading volume and the attention that the market receives.
Voxies Price Surges
All things considered, the futures listing has caused waves of optimism to spread throughout the market for cryptocurrencies like Voxies. As previously observed, the price of Synapse (SYN) experienced a fantastic increase following the token’s launch on the cryptocurrency exchange’s futures market.
At the same time, the price of Voxies increased by 75% on the announcement of Binance’s listing, and it was trading at $0.2446 at the time of pressing. Over the course of twenty-four hours, the price reached a low of $0.1261, then a high of $0.2699.
Notable is the fact that the token’s intraday trading volume increased by 34% today, reaching a total of $84.56 million. Additionally, the coin’s market cap totaled $46.26 million.
Today, the Voxies 14-day Relative Strength Index (RSI) reached 83, which indicates that the currency entered an overbought region. This also provides a hint that a possible price bounce is on the horizon for the cryptocurrency market.
In addition, market technicals indicated that the asset was a strong candidate for purchase, which sparked additional investor interest in the asset’s future price moves. Despite this, the coin is currently experiencing optimism due to the availability of futures contracts for the token.
During this period, the cryptocurrency industry witnessed the listing of several large exchanges. The South Korean cryptocurrency exchange Upbit listed Pepe Coin and BRETT, sparking additional conversations among members of the global cryptocurrency community.
