Binance to Launch TOKEN Perpetual After Multiple Exchange Listing – BSC NEWS

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his development follows TOKEN's recent listings on various exchanges, including ByBit, BingX, and KuCoin.
Binance Futures is all set to introduce the USDⓈ-M TOKEN Perpetual Contract on November 3, 2023, at 15:00 (UTC). This addition to Binance's diverse offering comes with the potential for up to 50x leverage. A noteworthy aspect of this development is that Binance has yet to list the TOKEN in its spot market.
Binance's approach to the TOKENUSDT Perpetual Contract is dynamic, with certain contract specifications that may be adjusted based on market risk conditions. These conditions include the funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements. 
The TOKEN, which serves as the focal point of this development, is a cryptocurrency introduced by FLOKI for its venture, TokenFi. This launch builds upon FLOKI's recent forays into the crypto space, aiming to diversify its presence and offerings.
TokenFi is a platform that reportedly simplifies and democratizes launching cryptocurrencies. The platform aims to provide an all-in-one platform that equips users with the tools and resources for successful crypto token creation. 

The launch of the TOKEN Perpetual Contract on Binance Futures is the latest milestone in TOKEN's journey. The token has already made securing listings on ByBit, MEXC, BingX, and KuCoin exchanges. 
However, the TOKEN's listing journey hasn't been entirely smooth. Bitget, a prominent exchange, recently stirred up controversy by announcing the delisting of the TokenFi TOKEN just days after it went live. 
Bitget cited reasons such as "suspected market manipulation" and "malicious control of liquidity" on decentralized exchanges (DEXs) as grounds for delisting. Bitget also raised concerns about Floki's role in providing liquidity to the token. Allegations surfaced that Floki added only $2,000 worth of tokens to liquidity pools. 
Floki, in response, took to social media platform X (formerly Twitter), asserting that Bitget had listed the token without permission. Floki further claimed that Bitget listed a fake version of TOKEN just twelve minutes before it was officially launched. Floki asserted that Bitget's actions led to a $10 million deficit as the value of TOKEN surged. 
TOKEN is trading at 0.047, up 1% in 24 hours. 
Analysts view the updates as companies tailoring applications to meet regulatory requirements, emphasizing measures for monitoring price movements, anti-money laundering compliance, and thorough audits. 
Asset manager BlackRock and Bitwise have made crucial updates to their applications for launching the first-ever spot Bitcoin ETF in the United States. 
The revised documents, now available on the U.S. Securities and Exchange Commission (SEC) website, indicate ongoing discussions between the SEC and market players regarding approving a spot Bitcoin ETF.
Analysts interpret these updates as strategic moves, allowing companies to tailor their applications to meet the SEC's evolving requirements. 
BlackRock's updated filing outlines robust measures the trust administrator will implement to monitor unusual price movements. Emphasizing anti-money laundering (AML) compliance, the application now includes an audited statement from PricewaterhouseCoopers. 
In addition, the sponsor and trust will work exclusively with third-party service providers thoroughly vetted for Know Your Customer (KYC) compliance, such as Authorized Participants, Market Makers, Prime Brokers, and Bitcoin Custodians.

Bloomberg analyst James Seyffart shared insights on the updates, suggesting ongoing discussions between the SEC and spot Bitcoin ETF issuers. He believes the amendments result from extensive conversations and collaborative efforts. 
This one dropped 65 minutes earlier than BlackRock: https://t.co/Mp8Ja1uHDY
Bloomberg analysts predict that the U.S. will approve a bitcoin ETF in January 2024. According to James Seyffart and Eric Balchunas, there is a 90% chance that ARK Invest's application for a Bitcoin ETF will be approved before January 10, 2024. 
The cryptocurrency market has experienced heightened speculation, with Bitcoin surging about 20% in the past month amid speculation that the SEC might approve a spot fund. Bitcoin is trading at just under $42,000 as of writing, reflecting positive sentiment regarding the launch of a spot Bitcoin ETF.
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Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.
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Buy Crypto with a bank transfer, credit or debit card, P2P exchange, and more. Not investment advice. All trading risk. Terms apply.

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