Binance, the biggest crypto exchange by trading volume, has actually exposed its intents to present a USDT-margined BOME Perpetual Contract, providing utilize of approximately 50x.
BOME, called the Book of Meme, is a meme coin developed on the Solana blockchain. Its current rise in appeal has actually brought in a substantial variety of traders, a number of whom have actually gained significant revenues in the previous couple of days.
Binance to List Book of Meme (BOME) With Seed Tag
Binance’s BOMEUSDT Perpetual Contract allows traders to take advantage of USDT’s stability versus BOME’s prospective volatility. The agreement has a tick size of 0.001 and a financing rate topped in between +2.00% and -2.00%.
Certified liquidity suppliers stand to gain from 0.005% maker charge refunds for trades within 14 to 15 days. Binance maintains the versatility to change agreement requirements based on market threat conditions. An interesting function of the BOMEUSDT Contract is its Multi-Assets Mode, permitting users to trade throughout different margin possessions, consisting of Bitcoin.
In addition, Binance will allow trading for BOME throughout numerous area trading sets, consisting of BOME/BTC, BOME/USDT, BOME/FDUSD, and BOME/TRY.
“The Seed Tag represents an ingenious task that might show greater volatility and dangers compared to other noted tokens. The Seed Tag will be used to BOME,” Binance included.
BOME’s listing on Binance shows up in the middle of the exchange tightening up requirements for token listings, intending to boost financier defense. Brand-new tasks considering Binance noting face extended cliff durations, extending from 6 months to a year. This involves a freeze on coin sales, increased allowances to market makers, and security requirements.
Furthermore, Binance might require a bigger share of tokens to be assigned to market makers to make sure robust liquidity.
Find out more: 7 Best Binance Alternatives in 2024
Book of Meme (BOME) Price. Source: CoinMarketCap
Considering that its market launching, the Solana-based meme coin BOME has actually increased, rapidly turning into one of the most actively traded digital possessions. According to CoinMarkeCap, the token risen by roughly 450% in the previous day, reaching a trading rate of around $0.02189 at present. Especially, it ranks amongst the leading 10 traded properties throughout this duration.
Various traders have actually profited from the meme coin’s momentum throughout this rise, yielding substantial earnings. Blockchain expert Lookonchain reported that a person trader made $4.3 million in 2 days of BOME trading.
Find out more: 7 Hot Meme Coins and Altcoins that are Trending in 2024
Particularly, the trader invested 3,505 Solana (SOL) valued at $645,000 to get 532.45 million BOME tokens before transforming them into 26,933 SOL, comparable to $4.95 million.
“In simply 2 days, this guy made $4.3 million by trading BOME! He invested 3,505 SOL($645,000) to purchase 532.45 M BOME 2 hours after it opened trading and offered everything 10 hours ago for 26,933 SOL(comparable to $4.95 million). Making 23,428 SOL($4.3 million) in simply 2 days,” Lookonchain discussed.
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