Key Points

Binance will launch the MYXUSDT and FUSDT Perpetual Contracts with up to 50x leverage.
Both digital assets recorded price spikes following the exchange’s announcement.

On June 18, Binance announced that it will launch futures trading for two digital assets:

MYX Finance – A non-custodial derivatives exchange that enables on-chain trading of perpetual contracts for any token that has an existing AMM market
SynFutures (F) – A DEX and full-stack financial infrastructure that promises to power the future of trading

Binance Futures Announcement for MYX and F

In its official announcement, the crypto exchange revealed that it would launch futures trading for MYX and F with up to 50x leverage as follows:

The MYXUSDT Perpetual Contract will be launched at 12:30 (UTC).
The FUSDT Perpetual Contract will be launched at 12:45 (UTC).

Both digital assets recorded price spikes following Binance’s announcement.

Price Trajectories for MYX and F on June 18

Here are the price actions for the two digital assets today.

MYX Price Action

Ahead of Binance’s announcement, MYX was trading at $0.07 with a market cap of over $9,6 million. The digital asset’s price spiked to over $0.09, reaching a market cap of more than $12 million, immediately after the announcement.

The coin continued to surge, topping $12,3 million in market cap before settling at current price levels.

At the moment of writing this article, MYX is trading above $0.09 with a market cap of over $11,7 million, up by almost 14% in the past 24 hours.

F Price Action

Ahead of Binance‘s futures listing announcement, F has a market cap of over $18 million, and it neared $20 million after the exchange revealed its plans, seeing a surge of over 4%, before settling at current levels.