Binance is introducing #PHA and #DF futures trading.
Starting at 11:30 UTC, Binance Futures will offer PHAUSDT and DFUSDT at 11:45 UTC.
The news by Binance caused a price increase for PHA and DF.
With 2024 drawing to a close, Binance will resume its string of futures offerings. Perpetual Contracts for dForce (DF) and Phala Network (PHA) will be launched today by Binance Futures.
Launch times for the PHAUSDT and DFUSDT Perpetual Contracts are 11:30 and fifteen minutes, respectively, UTC.
Leverage of up to 75x will be applied to the launch of both Perpetual Contracts.
To better serve its clients and provide them with more trading options, Binance has started adding more futures contracts to its listings.
Following the announcement, the price of the coins surged.
Market capitalization for PHA skyrocketed from $388 million to more than $409 million after Binance Futures' announcement. After getting close to $0.53 earlier, the coin is currently trading at $0.52.
We already mentioned earlier today that PHA was the biggest gainer over the past week. After 24 hours, the coin has gained over 9%.
Phala Network, what is it?
When it comes to Web3, the Execution Layer is Phala Network. With this project's help, AI can learn about and engage with blockchains, and the first billion people will be able to access the Web3 ecosystem.
The group emphasizes that developers can construct unstoppable AI bots that are tamper-proof by integrating smart contracts on top of the Phala Network.
DF's Inflation
Following Binance's statement, the price of DF also skyrocketed, going from $0.08 to more over $0.1. The announcement of DF's futures listing caused its market cap to surge from over $83 million to over $100 million.
Over 28% of its value has been added today.
The dForce project has created an extensive set of protocols for the Web3 infrastructure, which includes:
Decentralized stablecoins with standardization
Protocols developed as part of the project have the potential to greatly improve liquidity in the decentralized AI, Bitcoin L2, and DePIN ecosystems.
$DF $PHA