Significant 5% Surge in MOVR Price Following Binance Futures Introduction of MOVRUSTD Perpetual Contract

Binance Futures Launches New Trading Product: MOVR Perpetual Contract

Binance Futures has introduced a new trading product called the USDⓈ-M MOVR Perpetual Contract. This contract, denoted as MOVRUSTD, is set to go live on December 16, 2023. It offers leverage of up to 50x and caters to various trading strategies and risk appetites.

The underlying asset for this contract is Moonriver (MOVR), with USDT as the settlement asset. The funding fee settlements occur every four hours to align with current market conditions.

Benefits for Liquidity Providers

Traders can engage in trading activity 24/7 using Binance’s Multi-Assets Mode. Qualified USDⓢ-margined futures liquidity providers will receive a 0.005% maker fee rebate when trading MOVRUSTD for at least two weeks.

The USDⓈ-M MOVR Perpetual Contract is subject to Binance’s Terms of Use and the Binance Futures Service Agreement.

Surging Popularity of BRC-20 Tokens

Tokens like SATS and ORDI have gained popularity in the crypto market recently. SATS has risen by approximately 37% in the last month, while ORDI has surged over 234%. With the launch of the MOVRUSTD Perpetual Contract, interest and investment in these tokens could increase further.

Listings on major crypto exchanges like Binance often lead to price fluctuations for BRC-20 tokens. At present, MOVR is trading at $31.78, with a 5% increase in the last 24 hours and a remarkable 391% rise in the past week.

Hot Take: Binance Futures Introduces MOVR Perpetual Contract, Boosting Liquidity and Token Interest

Binance Futures has launched the USDⓈ-M MOVR Perpetual Contract, providing traders with increased leverage and flexibility. This new trading product is expected to attract liquidity providers and generate interest in BRC-20 tokens like SATS and ORDI. The MOVRUSTD contract, based on the Moonriver asset, offers funding fee settlements every four hours to align with market conditions. As the popularity of BRC-20 tokens continues to grow, the launch of this perpetual contract on Binance will likely contribute to further price fluctuations and increased investment in these tokens.