- Binance Futures launched a GOATUSDT perpetual contract with 75x leverage for the Goatseus Maximus (GOAT) token
- GOAT price shot up over 200% in a week following this listing
- Speculation arises that GOAT could potentially reach $1 given the recent bullish momentum
Goatseus Maximus (GOAT) has seen its price surge over 200% in the past week. This comes as Binance Futures launched a GOATUSDT perpetual contract with 75x leverage on Thursday. The futures listing is sparking optimism that the Truth Terminal-backed token could be headed for $1.
Binance Adds GOAT Perpetual Contract
Binance announced on October 24th that its futures platform was listing a GOATUSDT USD-Margined perpetual contract. The contract launched at 13:30 UTC and allows traders to utilize up to 75x leverage.
The ticker size for the contract is 0.00001, while the capped funding rate was set at +/- 200% by Binance. The announcement also noted that the contract terms may see adjustments in the future based on shifting market conditions.
The listing provides expanded trading options for Binance users. It also builds on previous support for Goatseus Maximus, which also saw a spot listing on Cryptocom earlier this month.
GOAT Price Jumps 20% on Listing
In line with the listing news, GOAT’s price has trended upward. At press time, GOAT is trading around $0.07947, up nearly 20% in the past 24 hours.
Intraday low and high figures were $0.05992 and $0.08821, respectively. Trading volume over the past day has also spiked 57% to $43.728 million, according to CoinMarketCap data.
Coinglass indicated a 20.187% increase in GOAT futures open interest to $2.902 million after the listing. Futures volume was also up 808% to $23.953 million.
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Community Optimistic on Path to $1
The boost to GOAT’s price and derivatives activity suggests an uptrend is in motion. In the past, Binance futures listings have preceded extended rallies.
For example, Simon’s Cat (CAT) has gained over 60% since its October 21 futures market debut. This has sparked confidence that similar upside could be in store for GOAT, with $1 being a potential near-term target.
BitMEX founder Arthur Hayes has also previously forecasted a 10x gain for GOAT, further feeding optimism about its trajectory. With exchange support growing and positive momentum in motion, traders are eyeing the Truth Terminal token’s next moves closely.
