#SynFutures , a decentralized derivatives trading platform, has launched its Perp Launchpad platform to help crypto projects create open-ended futures markets.

According to SynFutures' press release, the platform aims to expand access to trading lesser-known tokens, offering users more opportunities to interact with various digital assets.

This trading platform stands out because it specializes in open-ended futures markets, a type of derivatives market. Perpetual futures are contracts that remain open indefinitely and are often used for leveraged trading.

This platform is also unique because most cryptocurrency platforms focus on spot trading or direct asset trading.

A $1 million grant for token projects

As part of this initiative, SynFutures is launching a $1 million grant program to support token projects, providing financial support, liquidity, and marketing assistance to help new projects build visibility and attract users.

By expanding access to derivatives, SynFutures allows these projects to host tokens and offers communities additional ways to interact through trading and liquidity provision.

Initially, Perp Launchpad will be powered by Base, a layer 2 network based on Ethereum ($ETH
), allowing projects to create permanent trading pairs for their tokens. SynFutures has already partnered with high-profile projects such as Lido and Solv Protocol, significantly expanding its ecosystem from July 2024.

The SynFutures startup platform also targets individual traders and provides access to a wider range of tokens, including popular meme coins. The platform offers incentives to attract traders to the derivatives markets, such as trading contests.
#BIOProtocol

Post By: CryptosHeadlines.com

Rachel Lin, the co-founder of decentralized exchange SynFutures, has suggested that if Bitcoin continues to deliver average returns for November, its price could potentially reach $47,000 by the end of the month.

Rachel Lin from SynFutures noted that October, often referred to as ‘Uptober,’ saw Bitcoin’s value rise by nearly 29%. Lin also pointed out that historical data suggests that November tends to perform even better, with an average return of over 35% for Bitcoin. If November follows this pattern, Bitcoin could potentially reach around $47,000.
Additionally, the cryptocurrency market is experiencing increased user activity and transaction volume, which further adds to the positive outlook for the crypto ecosystem.
Bullish Momentum Persists in the Crypto Market
Rachel Lin, co-founder of SynFutures, has pointed out several positive indicators for the cryptocurrency market. One significant factor is the increase in spot volume, particularly in large transactions exceeding $100,000, which suggests heightened institutional interest in digital assets, especially Bitcoin.
In the past week, approximately $325 million flowed into the sector, with a substantial portion directed toward Bitcoin. Additionally, options data shows a bullish market sentiment, with significant open interest in options like the 40,000 December call and the 45,000 December call. Despite some short-term concerns, the long-term outlook for Bitcoin appears promising.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#Blockchain #CryptoMarket #Bitcoin #CryptoNews #SynFutures