The world’s largest cryptocurrency trading platform by trading volume is launching futures trading on a little-known altcoin that has surged 200% this month.
Cryptocurrency exchange Binance has announced that it is launching futures contracts with up to 75x leverage for UXLINK, a decentralized social network powered by blockchain technology.
“Binance Futures will launch UXLINK/USDT perpetual contract…
The maximum funding rate for the aforementioned perpetual contracts is +2.00%/-2.00% at launch. The funding fee settlement frequency is 4 hours.”
UXLINK is trading at $0.454 at the time of writing, having tripled in value since it was trading at $0.151 on September 1. The project has a market cap of $78,684,000, making it the 453rd largest cryptocurrency.
According to UXLINK’s white paper, the project aims to “become the largest-scale social platform and infrastructure focused on true real-world, two-way connectivity.”
“UXLINK features a range of user-friendly Dapps (decentralized applications) that seamlessly integrate into (messaging platform) Telegram and other real-world social platforms. These applications include onboarding, graph building, group tools, and socialized Web3 interactions. The breakthrough lies in encrypting and standardizing real-world groups, transforming them into Web3 operational units. This innovative approach positions groups as the focal point of Web3 applications, making a significant step forward in the innovation of social and virtual interactions.”
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