Synapse (SYN) Price Soars 40% As Binance Unveils Futures Listing
Highlights
- Binance unveils Synapse (SYN) futures listing today.
- The crypto exchange's announcement ignited market optimism.
- SYN price soared nearly 40% today.
Binance, the world’s leading crypto exchange, on Friday made a significant announcement for the universal interoperability protocol Synapse. The crypto exchange revealed futures listing for SYN token. Traders responded immediately and the price witnessed a nearly 40% uptick in value following the listing announcement today.
Binance Unveils Synapse Futures Listing
According to an official announcement by Binance today, August 16, the exchange is all set to launch the USD-Margined perpetual contract for SYN at 12:30 UTC today. Users can enjoy up to 50x leverage trading SYNUSDT.
The underlying asset Synapse is a universal interoperability protocol that enables cross-chain communication. Further, the token’s futures listing on one of the world’s leading exchanges has ignited significant optimism among market participants. High leverages encourage more market participants to invest in the asset, jacking up trading volume and market attention.
Also, the capped funding rate for the Synapse was set at +2.00% / -2.00%. However, “Based on market risk conditions, the exchange may adjust the specifications of the aforementioned futures contract from time to time,” it added in a statement. This listing chronicle has aided the token in garnering significant attention across the broader crypto market.
Simultaneously, the token’s price noted unprecedented gains today, in tandem with the listing announcement.
As CoinGape reported earlier, BANANA Price hit a weekly high following Banana Gun futures listing by Binance. Also, Banana Gun, the platform behind BANANA, initiated a massive burn to further bolster the token’s price.
SYN Price Soars
Meanwhile, Synapse price has rallied over 40% after the Binance announcement. SYN price is currently trading at $0.560, with a 24-hour low and high of $0.366 and $0.500, respectively. Moreover, the trading volume saw a massive 191% increase in the last 24 hours, indicating interest among traders.
The current market sentiment orbiting the digital asset remains extremely bullish, primarily attributable to the futures listing announcement by a leading exchange.
Additionally, aiming to streamline user experience surrounding Futures API, the exchange will perform a live upgrade on WebSocket APIs for the entire day of August 21, it revealed in another announcement today.
- Legal Expert Breaks Down XRP’s Appeal as Ripple SWIFT Debate Heats Up
- Crypto Stakeholders Push Back as Banks Seek Yield Ban Provision in CLARITY Act
- Crypto ETFs Approval Faces Uncertainty as Government Shutdown Looms, Bloomberg Analyst Says
- Fed’s Hammack Backs Restrictive Policy Over Rate Cuts Amid Inflation Concerns
- Fed Governor Chris Waller Champions Stablecoins as a Tool for Cheaper Global Payments
- Dogecoin Price Prediction – Chart Set-Up Highlights Perfect Buying Opportunity With Outflows Backing $0.45
- Bitcoin Price Set to Rebound Ahead of US Government Shutdown, NFP Data
- XRP Price Prediction: How XRP Could React After October 2025 SEC ETF Decisions
- Aster Price Prediction as US President Adds $110M Worth of Tokens to His Portfolio
- Pepe Coin Price Bounce Likely as Support Zone Aligns With Rising Social Activity
- Solana Price Set for Recovery Amid Wyckoff Accumulation and Canary Capital ETF Filing
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
