- Binance Futures listing of HYPEUSDT perpetual contract boosts trading leverage to 75x.
- Increases market access for retail and institutional traders.
- Short-term trading activity expected for HYPE token.
Binance Futures announced the launch of the HYPEUSDT perpetual contract, offering up to 75x leverage, starting May 30 at 18:30 Beijing time.
The new contract aims to expand trading options for the HYPE token and increase market activity, although major cryptocurrency shifts are not expected as a result.
Binance Offers 75x Leverage on New HYPEUSDT Contract
Binance Futures, a leader in cryptocurrency derivatives, has introduced the HYPEUSDT perpetual contract, offering noteworthy leverage opportunities. This initiative is part of their ongoing strategy to enhance market depth and accessibility for new and trending tokens, as seen with other tokens like CGPT/USDT and SOONUSDT.
The introduction of this contract is designed to amplify trading potential with a maximum leverage of 75x, primarily facilitating increased volatility and liquidity in the HYPE market. USDT is used as the settlement currency, adhering to standard practices observed in Binance’s derivative offerings.
Binance Futures, Derivatives Division, Binance, stated: “Binance Futures will launch the HYPEUSDT perpetual contract with up to 75x leverage, providing our users with enhanced trading tools and deeper market access for the HYPE token.”
Historical Listings Show Patterns in Trading Volume Surges
Did you know? Historically, Binance’s new perpetual contract listings like HYPEUSDT often trigger short-term surges in trading volume, highlighting the increased volatility typical for newly listed tokens.
According to CoinMarketCap, Hyperliquid (HYPE) currently trades at $33.73, with a market cap of $11.26 billion and a market dominance of 0.34%. Recent price changes include a 3.04% decrease over 24 hours and an 82.73% increase over the past 30 days. The circulating supply of HYPE is 333,928,180.
The Coincu research team emphasizes the potential for significant immediate market reactions driven by high-leverage access via Binance. This could result in increased speculative trading volume, although long-term impacts remain uncertain, given the unpredictable nature of futures market dynamics. Hyperliquid further underlines the dynamic environment surrounding these token listings.
Source: https://coincu.com/340654-binance-futures-hypeusdt-launch/