- Binance launches $SLERFUSDT and $SCRTUSDT perpetual contracts with up to 75x leverage.
- A crypto whale purchases $2.62 million worth of $SLERF, acquiring 6.13 million tokens.
Binance Futures has officially listed USD-margined $SLERFUSDT and $SCRTUSDT perpetual contracts, offering leverage of up to 75x. Following the announcement, a crypto whale made a significant purchase, acquiring 6.13 million $SLERF tokens at $0.427 each. The transaction totaled 10,790 $SOL, or $2.62 million.
After #Binance announced the launch of $SLERF perps, a whale spent 10,790 $SOL($2.62M) to buy 6.13M $SLERF at $0.427!https://t.co/CBLWYqxmQt pic.twitter.com/GorSr9AYsg
— Lookonchain (@lookonchain) November 21, 2024
The listing of $SLERFUSDT perps significantly enhances Binance’s offerings, allowing traders to speculate on $SLERF’s price movements without holding the token. The introduction of high leverage increases both the potential rewards and risks for traders, particularly those seeking amplified returns.
Binance Boosts $SLERF’s Legitimacy
The whale’s $2.62 million transaction underscores the growing interest in $SLERF. Such large-scale purchases typically signal a strong belief in the token’s value, potentially driving further market participation. The whale’s move may encourage additional traders to follow suit, boosting liquidity and overall market interest in $SLERF.
In addition to $SLERF, Binance’s listing of the $SCRTUSDT perpetual contract broadens its derivatives portfolio, catering to various trading preferences. The introduction of both tokens provides opportunities for traders seeking high-risk, high-reward strategies. However, the increased leverage also introduces greater risk, making it essential for traders to assess their risk tolerance.
Binance’s backing of $SLERF through its perpetual contract listing elevates the token’s profile within the market. $SLERF, a memecoin associated with the Solana blockchain, now gains more legitimacy and visibility. This visibility may attract both retail and institutional investors, further contributing to its growth.
The token is poised for increased adoption, with both retail and institutional investors likely to take a closer look. As $SLERF’s perpetual contracts gain momentum, its trajectory will depend on broader market sentiment and continued support from platforms like Binance.
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