Binance Introduces Futures Trading for Ethereum-Based Altcoin with 50x Leverage
The world’s largest cryptocurrency exchange, Binance, has announced the launch of futures trading for Powerledger (POWR), an Ethereum-based altcoin. Powerledger is a decentralized energy market that aims to democratize energy tokens and facilitate the transition to renewable energy sources while enabling consumers to monitor their power usage.
Binance plans to offer futures contracts for Powerledger with leverage of up to 50x. The exchange intends to start offering these contracts as early as tomorrow.
Currently, POWR is trading at $0.247, reflecting a 22.5% decrease in the last 24 hours but a significant increase of 59% since October 19th when it was priced at $0.156.
Hot Take: Binance Expands Crypto Futures Offerings with Powerledger
Binance continues to expand its range of futures offerings by introducing trading for Powerledger (POWR), an Ethereum-based altcoin focused on decentralizing the energy market. By launching futures contracts with up to 50x leverage for POWR, Binance aims to provide traders with more opportunities to speculate on this promising asset. With its mission of democratizing the energy market and promoting renewable energy adoption, Powerledger has gained significant attention and achieved impressive price growth in recent weeks. This move by Binance further solidifies its position as a leading crypto exchange platform catering to the evolving needs of crypto enthusiasts and traders.
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