With crypto exchange giant Binance extending support to the League of Kingdoms Arena (LOKA) P2E crypto project, market sentiments surrounding the token turned highly bullish on Tuesday. LOKA price shot up nearly 20% as the exchange announced futures listing for the token on its platform. Meanwhile, traders appear to have reacted positively to the listing announcement, as even the coin’s intraday trading volume rocketed nearly 155%.
In an official Binance announcement dated September 24, the leading crypto exchange revealed that it is launching the LOKAUSDT perpetual contract today at 11:30 UTC. This decision by the exchange comes as a mover to expand the list of trading choices offered on the platform.
Binance notified that users could enjoy up to 75x leverage when trading the asset. The capped funding rate was set at +2.00% / -2.00%, per the announcement. Further, the tick size was set at 0.0001 by one of the top crypto exchange. However, the listing announcement also notified users that the perpetual contract may be subject to potential changes ahead, primarily due to market risk conditions. These potential changes could encompass adjustments in funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements.
It’s also worth noting that League of Kingdoms (LOKA) is a blockchain-based Massively Multiplayer Online (MMO) strategy game. For context, it is also a play-to-earn ecosystem that allows players to earn real income through in-game participation.
At press time, LOKA price shot up slightly over 20% from its 24-hour low to trade at $0.2723. The coin’s intraday low and high were $0.2236 and $0.2959, respectively. LOKA’s 24-hour trading volume experienced a 155% surge to $22.74 million in light of Binance’s listing announcement. Intriguingly, today’s price upswing primarily aligns with the futures trading announcement, as also seen in other tokens’ price action post-listing.
Notably, Aavegotchi (GHST) price soared nearly 37% on Binance futures listing, CoinGape Media reported yesterday. Simultaneously, another report revealed that Telegram-based P2E crypto project Catizen (CATI) price skyrocketed remarkably on its debut on the exchange. Overall, these chronicles validate LOKA’s price upswing witnessed today.
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