On Monday, despite a general decline in the cryptocurrency market, UXLINK, the native token of the Web3 social media platform, bucked the trend and surged more than 100% in the past week. This strong performance is particularly prominent during the market downturn. The main driver of UXLINK's rise was Binance's announcement to list it on its futures platform. This introduced USD-margined perpetual contracts for UXLINK/USDT with up to 75x leverage.
Traders continued to show enthusiasm today. UXLINK's 24-hour trading volume jumped 134.79% to $1.3 billion. Open interest in UXLINK futures contracts also increased to more than $50 million. In addition, derivatives trading volume exceeded $895 million, indicating a growing interest in spot and futures markets.
Since its launch in July, UXLINK's market capitalization has grown to $111 million, up 329% from the previous month.
UXLINK’s price continues to climb, trading at $0.69, up 26.40% in the past 24 hours. Over the past week, the token’s price has risen 190%. In May, UXLINK partnered with Binance’s Web3 wallet to launch a campaign to increase user engagement. The campaign offered rewards such as UXLINK airdrops and UXUY points, increasing platform awareness and attracting new users.
