The price of Avalanche (AVAX) jumped by 12% after Binance made an important announcement, which made investors feel more confident about the market. This suggests that the crypto is heading in a positive direction with increased momentum.
Today, the price of Avalanche (AVAX) surged by almost 12% in the crypto market. This notable increase follows a strategic announcement by Binance, the top crypto exchange. The rally in AVAX price indicates that investors have high confidence in the crypto, especially with Binance introducing a USDC-margined AVAX Perpetual Contract with up to 75x leverage on its Futures platform.
Binance Boosts Avalanche (AVAX) with USDC-Margined Perpetual Contract
The recent surge in Avalanche (AVAX) price has attracted the attention of crypto enthusiasts and investors, with analysts pointing to Binance’s latest move as a significant driving force behind this momentum.
Enhanced Trading Options on Binance Futures: Binance, the leading crypto exchange, has announced the launch of a USDC-margined AVAX Perpetual Contract on its Futures platform, scheduled for March 20, 2024, at 07:00 (UTC). Offering leverage of up to 75x, this initiative aims to broaden trading options and improve user experience on Binance Futures.
Additionally, users can benefit from a 10% promotional trading fee discount until April 3, 2024, 12:30 (UTC) on all trades of USDC-margined futures contracts. The introduction of the Multi-Assets Mode feature allows trading across multiple margin assets, providing users with added flexibility.
Binance’s Strategic Commitment to Expansion: The introduction of the AVAX Perpetual Contract demonstrates Binance’s strategic dedication to expanding its offerings and meeting the evolving needs of its user base. By facilitating access to AVAX trading with enhanced leverage options, Binance aims to stimulate trading activity and bolster market liquidity for AVAX.
This move not only solidifies Binance’s position as a leading crypto exchange but also emphasizes its support for promising projects like Avalanche.
Binance’s Endorsement Boosts Avalanche (AVAX) Confidence
Binance’s endorsement through the introduction of the AVAX Perpetual Contract reflects a strong vote of confidence in the potential of Avalanche. The surge in AVAX price following this announcement signals growing investor interest and positive market sentiment.
As Binance users gain access to AVAX trading with increased leverage, the demand for AVAX may experience further upticks, potentially driving its price higher.
Recently, Avalanche price has been on investors’ radar, evidenced by a surge of around 35% in its price. Additionally, the announcement of the Avalanche Foundation’s board expansion has further bolstered market sentiment.
As of writing, the Avalanche price was up 11.73% to $59.74, with its trading volume staying near the flat line at $1.93 billion. AVAX has reached a high of $62.27 in the last 24 hours, noting a monthly gain of around 50%.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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