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Binance introduced futures trading for DEGEN, a token on the Base chain, on November 15, 2024. This launch triggered a 50% price increase, pushing DEGEN to $0.29. Trading volume reached $386.44 million, demonstrating strong market interest.
Per the blog post, the DEGENUSDT Perpetual Contract went live at 11:30 (UTC) with up to 75x leverage. The contract offers high leverage, a flexible multi-asset mode, and 24/7 trading. Notably, Binance has not yet listed spot trading pairs for DEGEN.
Originally a reward token for Farcaster, a blockchain-based social media platform, the futures listing aims to expand trading options and cater to growing interest in DEGEN.
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