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.
At the moment of writing this article, F is trading above $0.009 with a market cap of over $19 million, up by more than 3% in the past 24 hours.
