Binance Boosts Avalanche (AVAX): Price Surges 12%

Today, the price of Avalanche (AVAX) surged by almost 12% in the crypto market. This notable increase follows a strategic announcement from Binance, the top cryptocurrency exchange.

Simultaneously, the surge in AVAX’s price indicates a robust investor confidence in the cryptocurrency, bolstered by Binance’s decision to expand its support. Binance has introduced a USDC-margined AVAX Perpetual Contract on its Futures platform, offering leverage of up to 75x.

The sudden spike in the price of Avalanche (AVAX) has drawn the interest of both cryptocurrency enthusiasts and investors. Analysts attribute much of this momentum to a recent strategic maneuver by Binance.

In the latest development, Binance, the prominent cryptocurrency exchange, has revealed plans to introduce a USDC-margined AVAX Perpetual Contract on its Futures platform. The launch is set for Mar 20, 2024, at 07:00 (UTC), with leverage reaching up to 75x. This strategic initiative is geared towards enriching trading opportunities and optimizing user engagement on Binance Futures.

Binance Boosts AVAX With Futures Discount

However, Starting from April 3, 2024, at 12:30 (UTC), shoppers get a 10% discount on fees for trading USDC futures. The Multi-Assets Mode offers flexibility by enabling trading across multiple assets. This functionality is beneficial for consumers.

At present, the launch of the AVAX Perpetual Contract underscores Binance’s strategic dedication to broadening its array of services and addressing the changing demands of its user community. Through enabling AVAX trading with improved leverage choices, Binance seeks to encourage trading engagement and strengthen market liquidity for AVAX.

This action not only consolidates Binance’s standing as a premier crypto exchange but also highlights its backing for promising ventures such as Avalanche. Binance’s backing, manifested through the launch of the AVAX Perpetual Contract, reflects a strong vote of confidence in Avalanche’s potential. The subsequent rise in AVAX’s price post-announcement signifies increasing investor enthusiasm and favorable market sentiment.

Recently, Avalanche has caught the attention of investors due to its price surge of approximately 35%. This surge coincides with the announcement of an expanded board by the Avalanche Foundation, further enhancing market sentiment.

The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.