- Binance futures listing spurs bullish momentum for P2E project League of Kingdoms Arena (LOKA).
- Traders can leverage up to 75x on the newly listed asset as Binance broadens its trading options.
- LOKA’s price surged by over 20% following its futures listing announcement.
Discover how Binance’s latest futures listing catapulted League of Kingdoms Arena (LOKA) into the limelight, driving its market price up by 20% in just a single day.
Binance Unveils League of Kingdoms Arena (LOKA) Futures Trading
In a significant move, Binance announced the launch of the LOKAUSDT perpetual contract on September 24 at 11:30 UTC. This introduction seeks to extend the repertoire of trading assets available on Binance’s platform, thereby attracting a diverse trader base. The exchange also disclosed that the LOKA perpetual contract would allow users to leverage their trades up to 75x, highlighting Binance’s commitment to offering robust trading tools and options.
Market Sentiments and Technical Specifications
Upon its announcement, Binance also detailed important technical attributes: the funding rate is capped at +2.00% / -2.00%, and the tick size is pegged at 0.0001. However, these metrics may be subject to change based on evolving market risk conditions. Adjustments could include changes to the funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements, signaling Binance’s proactive risk management approach.
LOKA’s Impressive Market Reaction
Immediately after the announcement, LOKA’s price spiked by nearly 20%, moving from its 24-hour low of $0.2236 to a high of $0.2959, and later stabilizing around $0.2723. The appreciation was accompanied by a massive 155% surge in intraday trading volume, reaching approximately $22.74 million. Such price behavior underscores the high market enthusiasm generated by Binance’s futures listing announcement.
Comparative Analysis with Other P2E Tokens
Interestingly, LOKA’s price surge post-announcement mirrors price movements seen in other tokens listed on Binance. For instance, CoinOtag Media documented a 37% rise in Aavegotchi (GHST) post its futures listing. Similarly, the Telegram-based P2E crypto, Catizen (CATI), also experienced a notable price jump upon its debut. These cases highlight a recurring trend where new futures listings on Binance spark considerable price increases, further validating LOKA’s bullish response.
Conclusion
In sum, Binance’s launch of the LOKAUSDT perpetual contract has not only broadened its trading options but also significantly boosted LOKA’s market performance. With a 20% surge in price and a corresponding increase in trading volume, the listing has proved advantageous for traders and investors alike. Moving forward, monitoring Binance’s forthcoming announcements and market conditions will be crucial for seizing potential opportunities in crypto trading.
