• Binance Futures has listed the MOODENGUSDT Perpetual Contract, allowing users to trade the Solana-based MOODENG meme token with up to 75x leverage
• The contract has Tether (USDT) as the settlement asset, with a capped funding rate of +/-2.0% and funding fees settled every four hours
• After the listing, the price of the MOODENG meme coin rose more than 100%, currently ranking #327 by market capitalization
Binance has announced the listing of the Solana-based meme coin MOODENG (Moo Deng) through the MOODENGUSDT Perpetual Contract. This allows users to trade the MOODENG meme token with up to 75x leverage.
MOODENG Listing Details
The announcement states that Moo Deng remains the underlying asset, while Tether is the settlement asset. The capped funding rate is set between -0.0200% to 0.0200%. Funding fees will be settled every four hours.
The tick size for the perpetual contract is 0.000001. Shortly after the listing, MOODENG rose over 100% to $0.16. It currently ranks #327 with a market cap of $16,022,595.
Binance notes it may adjust the futures contract terms at times, including funding fee, tick size, leverage, and margin requirements. Users can also trade MOODENGUSDT using Bitcoin or other currencies as margin.
The Story Behind MOODENG
MOODENG first launched on the pumpfun platform on September 11. The meme coin is inspired by Moo Deng, a pygmy hippo at a Thai zoo.
Moo Deng’s online popularity led to a spike in zoo visitors, potentially bringing over $6.13 million in revenue this year. The coin’s debut in September saw a meteoric rise in price.
The Future of MOODENG
With the new Binance listing, MOODENG is likely to see increased trading volume and price volatility. As other exchanges pick it up and hype continues around the real-life Moo Deng, the meme coin could continue climbing the crypto rankings.
