Binance has unveiled new perpetual contracts for Phala Network (PHA) and dForce (DF), offering traders up to 75x leverage. This strategic move has ignited market enthusiasm, especially amid PHA's 310% weekly surge and DF's 120% monthly gain. By expanding trading options, Binance aims to boost liquidity and attract heightened attention to these tokens.
Binance Launches Perpetual Contracts for PHA and DF
On December 30, Binance introduced USDT-margined perpetual contracts for PHA and DF, catering to traders seeking high-leverage opportunities. Key details:
- PHAUSDT launched at 11:30 UTC with 75x leverage.
- DFUSDT followed at 11:45 UTC, featuring identical leverage.
Both contracts support 24/7 trading with a capped funding rate of ±2.00% and are available in Multi-Assets Mode, allowing margins like BTC. Binance emphasized that perpetual contracts don’t guarantee spot listings, urging users to review product differences.
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Price Surge Driven by Exchange Listings
Phala Network (PHA)
- Price: $0.522 (24-hour range: $0.41–$0.58).
- Weekly Gain: 310%, fueled by its Bitget listing.
- Market Cap: $395M; **24H Volume**: $400M (despite a 27% dip).
dForce (DF)
- Price: $0.099 (24-hour range: $0.076–$0.1277).
- Monthly Gain: 120%; 24H Rise: 15%.
- Market Cap: $91M; **24H Volume**: $159M.
Binance’s support is expected to amplify trading activity and visibility for both tokens, potentially triggering further rallies.
FAQs
1. What are perpetual contracts?
Perpetual contracts are derivatives without expiry dates, allowing traders to speculate on asset prices with leverage.
2. How does Binance’s 75x leverage work?
Traders can multiply positions by 75x, magnifying profits and losses. Risk management is critical.
3. Will PHA and DF be listed on Binance Spot?
Not guaranteed. Perpetual contracts are separate products; spot listings require additional approvals.
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Market Outlook
With Binance’s backing, PHA and DF are poised for increased liquidity and trader interest. However, high leverage demands caution—volatility could swing prices sharply.
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Note: Always conduct independent research before investing. The crypto market is highly volatile.
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