Outside Source
The largest cryptocurrency exchange, Binance, will launch futures trading with the Dogwifhat (WIF) meme coin.
According to the announcement on Jan. 18, Binance Futures will launch a Dogwifhat meme coin perpetual contract with leverage of up to 50x. Trading will begin on Jan. 18 at 14:15 UTC.
“Qualified USDS-margined futures liquidity providers will be eligible to enjoy 0.005% maker fee rebates for trades on the WIFUSDT Perpetual Contract for approximately 14 to 15 days.”
Binance announcement
The WIF rate reacted to this news with an increase of 18% at the time of writing – now, the coin cost is $0.4379. At its peak, the token’s price rose by 24% to $0.48. Trading volumes also jumped 84% in the last 24 hours to $148 million, while market capitalization rose 17.6% to $434.7 million.
WIF is a new meme coin based on Solana. The crypto community paid attention to it amid the general excitement around the Solana ecosystem and tokens within this network in December 2023. A new wave of popularity hit Dogwifhat in January – the token had risen in price by 71% and became the 9th largest meme coin.
Rumors later surfaced about WIF listing on Binance, sparking a new rally following the announcement, despite reports of memcoins collapsing on Solana following December 2023 gains.
This article first appeared at crypto.news
