Bitcoin’s Struggles Continue as Binance Futures Listing Boosts Gravity (G) and SuperRare (RARE)

• The cryptocurrency market continues to demonstrate significant volatility.
• Bitcoin has recently lost its crucial psychological support level at $60,000.
• This drop is exacerbated by substantial transfers by the US Government, leading to increased selling pressure on Bitcoin.

Discover how Binance’s latest addition of 50X futures contracts for Gravity (G) and SuperRare (RARE) is impacting crypto markets.

Binance Announces High Leverage Futures Contracts

Binance, the world’s largest cryptocurrency exchange, has announced the addition of two new altcoins—Gravity (G) and SuperRare (RARE)—to its futures trading platform. These contracts allow for leverage up to 50X, providing new opportunities for traders. The exchange has set specific times for the launch of these perpetual contracts: GUSDT will start at 3:30 PM TRT, and RAREUSDT at 4:00 PM TRT. Both contracts will feature a maximum funding rate of +/- 2% and funding fees will be charged every four hours.

Impact of Binance’s Listing on Altcoin Prices

Despite a general downward trend in the cryptocurrency market, the news of Binance’s listing has prompted a notable reaction. Gravity (G) initially plunged to $0.379 but quickly rebounded to $0.3987 before stabilizing around $0.3929 at a daily loss of approximately 2%. Conversely, SuperRare (RARE) surged from $0.7468 to $0.9539, experiencing a 12% increase to $0.9067 by the end of the trading session. The notable increase in RARE’s trading volume by 127% underscores heightened investor interest.

Conclusion

As Binance continues to expand its trading options, the recent inclusion of Gravity and SuperRare with high leverage futures contracts introduces new dynamics into the market. While the overall crypto market remains under pressure, specific altcoins are demonstrating resilience, offering traders both risk and opportunity. Investors should stay informed of these developments as they navigate the volatile crypto landscape.