Users can now trade MOODENG meme tokens on Binance in the form of MOODENGUSDT perpetual contracts with up to 75x leverage.
On October 25th, 10:00 UTC, Binance Futures announced that it has expanded its listing to include the Solana-based meme coin MOODENG (MOODENG) through the MOODENGUSDT Perpetual Contract.
According to the company’s notice, the Mu Deng-inspired meme coin will remain the underlying asset and Tether will be the settlement asset. Additionally, the upper limit funding rate set by the exchange at launch is 2.00%/-2.00%. Funding fees are settled every 4 hours, giving traders a consistent opportunity to manage their positions.
On the other hand, the tick size for perpetual contracts was set to 0.00001.
Shortly after Binance Futures announced its listing, the MOODENG meme coin rose more than 100% based on data from crypto.news. The adorable pygmy hippo meme coin is trading at $0.16.
Currently, Moo Deng holds the 327th place in the crypto.news ranking with a market capitalization of $160,229,595.
In the announcement, Binance stated that it may make adjustments towards futures contracts during certain periods. These adjustments include any changes that may be made to the token’s funding fee, tick size, maximum leverage, initial margin and/or maintenance margin requirements.
Users can also trade MOODENGUSDT perpetual contracts across multiple margin assets using multi-asset mode. This means that users can also use Bitcoin or other currencies as margin when trading MOODENGUSDT Perpetual Contracts.
First launched on the pump.fun platform on September 11, the MOODENG meme coin quickly became popular as the internet continues to be captivated by real-life videos of a pygmy hippopotamus named Moodeng at a zoo in Thailand. .
Moo Deng’s internet fame has led to a significant increase in the zoo’s visitor numbers, doubling the number of daily visitors. Khao Kheo Open Zoo director Narongwit Chodchoi predicted that Moo Deng would bring in more than $6.13 million for the zoo by the end of the year.
