Binance Futures announced the launch of USDT-margined perpetual contracts for TURBO, effective today, May 30th, 2024, at 15:30 UTC. This addition expands trading options on the platform and allows users to leverage TURBO positions up to 50x.
The announcement follows a 14% price increase for TURBO within the last hour, potentially fueled by anticipation of increased accessibility through perpetual contracts.
TURBO: AI-Generated Memecoin
TURBO, launched in 2022, holds the distinction of being the first cryptocurrency project created using artificial intelligence (specifically, ChatGPT 4). This ERC-20 token prioritizes community involvement with tax-free transactions and a decentralized structure.
The founder relinquished control of the smart contract, placing the project’s future in the hands of its user base.
The listing of TURBO perpetual contracts reflects Binance’s recognition of the ongoing memecoin trend
Prior to Binance’s listing, TURBO was already available for trading on other cryptocurrency exchanges, including OKX, Gate.io, and HTX. This wider availability suggests a pre-existing user base for the token. With a current market capitalization of $424 million, TURBO falls within the category of mid-cap cryptocurrencies.
