LOKA Price Shoots Nearly 20% Over Binance Listing Announcement

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The post LOKA Price Shoots Nearly 20% Over Binance Listing Announcement appeared first on Coinpedia Fintech News

Market sentiments around the token LOKA is soaring as Binance has announced support for the League of Kingdoms Arena (LOKA) P2E crypto project. LOKA’s price increased nearly 20% as the exchange announced futures listing for the token on its platform. Also, the coin’s intraday trading volume skyrocketed nearly 155%.

Binance To Launch LOKAUSDT Perpetual Contract

In an official Binance announcement on September 24, the leading crypto exchange disclosed that it is launching the LOKAUSDT perpetual contract today at 11:30 UTC. The exchange revealed that this move was to expand the list of trading choices offered on Binance Futures and enhance users’ trading experience.

The maximum leverage users could enjoy is up to 75x, when trading the asset. The capped funding rate was set at +2.00% / -2.00%, as per the announcement. Further, the tick size was set at 0.0001. However, it was also notified that based on market risk conditions, Binance may adjust the specifications of the Futures contract from time to time, which include the funding fee, tick size, maximum leverage, initial margin, and/or maintenance margin requirements.

The Multi-Assets Mode

Furthermore, Multi-Assets Mode allows users to trade the aforementioned LOKAUSDT perpetual contract across multiple margin assets, subject to the applicable haircuts. When the Multi-Assets Mode is activated, users can use BTC as margin when trading the aforementioned perpetual contract.

LOKA is currently trading at $0.2762, over 18% up from the last 24 hours. Interestingly, today’s price upswing is primarily in line with the futures trading announcement, which is also the case with other tokens’ price action post-listing.