Binance Launches SYN Futures: Offering 50x Leverage
Leading cryptocurrency exchange Binance announced a big development for the Synapse universal interoperability protocol on Friday. The crypto exchange disclosed the SYN token’s futures listing. After the listing news yesterday, traders reacted quickly, and the price saw an increase in value of around 42.17%.
- As per Binance’s official statement yesterday, the exchange is prepared to introduce the USD-Margined perpetual contract for SYN at 12:30 UTC.
- Trading SYNUSDT offers users leverage up to 50x.
- For the Synapse, a capped funding rate of +2.00% / -2.00% was established.
Synapse Token Price Hits a Ceiling with Binance Announcement: $0.7524 Level Seen
The underlying asset Synapse is a protocol for universal interoperability that makes cross-chain communication possible. Furthermore, a great deal of optimism has been generated among market players by the token’s futures listing on one of the top exchanges in the world. Excessive leverage drives higher trading volume and market attention by enticing additional players to engage in the asset.
The price of Synapse has increased by more than 40% since Binance’s announcement. The price of SYN is currently trading at $0.7075; it has reached a low of $0.4588 and a high of $0.7524 in the past 24 hours. Additionally, there has been a significant 268.46% spike in trading volume during the past day, indicating trader interest.
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