Binance, the world’s largest cryptocurrency exchange, has listed three new artificial intelligence (AI)-focused tokens and started offering futures for these tokens. COOKIE, ALCH, and SWARMS tokens are now available with up to 75% leverage, and details about the futures are as follows…
Binance Launches 3 New AI Tokens for Futures
Binance announced that its AI-based tokens are now available for futures trading as of January 7. COOKIE token futures began trading at 11:30, while ALCH token futures began trading at 11:45. SWARMS token futures became active at 12:15. These futures contracts are offered with a maximum funding rate of ±2.00%.
Binance also noted that these tokens are traded on the Binance Alpha Market platform. Binance Alpha Market is a new feature of Binance Wallet that aims to showcase early-stage crypto projects that could potentially make it to official Binance listings.
Tokens Lose Value After Futures Contracts
AI-based tokens experienced a brief loss of value after being listed on the futures platform. However, while COOKIE and ALCH tokens quickly recovered, the SWARMS token continued to follow a negative trend. According to analysis, such losses are a common occurrence after futures contracts are listed. Traders can easily short-sell futures contracts of these tokens. Following Binance’s listing announcement, it was stated that the largest holders of SWARMS sold a total of $2 million worth of tokens. The post included the following statements: “The largest SWARMS holders sold $2 million immediately after the Binance listing. The Binance listing is now officially a bearish signal. Times have changed.”
Another analyst recalled that a similar situation occurred after the listing of Fartcoin. However, Fartcoin showed a strong rise in December. The analyst stated that such situations had previously occurred with Griffin, Trisig, Jail and Neur tokens.
