Binance, the major cryptocurrency exchange, declared on September 24 that the LOKAUSDT perpetual contract will be launched today at 11:30 UTC. Following the binance listing announcement, loka has seen a significant surge of 20% in its price.
According to the announcement, customers can trade the LOKA perpetual contract with leverage of up to 75x. The exchange established a limited funding rate of +2.00% / -2.00%, with a tick size of 0.0001.
However, Binance stated that the perpetual contract may be susceptible to modifications dependent on market risk circumstances, including revisions to the financing charge, tick size, maximum leverage, and margin requirements.
League of Kingdoms (LOKA) is a blockchain-based Massively Multiplayer Online (MMO) strategy game that operates within a play-to-earn (P2E) ecosystem, where players can earn real income through gameplay. This unique feature makes LOKA particularly appealing to both gamers and crypto investors, contributing to its growing popularity.
This exciting development has significantly impacted market sentiment surrounding the League of Kingdoms Arena (LOKA) token, leading to a nearly 20% price surge. Traders responded enthusiastically to the news, with intraday trading volume for LOKA skyrocketing by approximately 155%.
At the time of writing, LOKA was trading at about $0.2619, up from a 24-hour low of $0.2236 and a high of $0.2959. The strong trading volume of $22.74 million demonstrates the increased interest among traders following the Binance listing announcement. This pattern is consistent with historical data, which shows that new futures listings frequently result in favorable price moves for tokens.
LOKA’s price surge echoes the recent performance of other cryptocurrencies on Binance. For example, Aavegotchi (GHST) experienced a nearly 37% price increase after its futures listing. Similarly, the Telegram-based P2E project Catizen (CATI) saw remarkable gains during its debut on the Binance exchange.
Also Read: Tranchess ($CHESS) Jumps 40% Following Binance Listing
