DF soars 26% after Binance Futures listing on USDT Perpetual Contracts

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As a seasoned analyst with years of experience in the cryptocurrency market, I have witnessed countless listings and launches that have either made or broken projects. The recent announcement by Binance to launch USDT perpetual contracts for dForce (DF) and Phala Network (PHA) on Dec. 30 has certainly caught my attention.

Having closely followed the trajectory of both projects, I must say that I am particularly impressed with the surge in DF following the announcement. A 26% increase in price is no small feat for any project, and it speaks volumes about the confidence investors have in dForce’s potential. With a market cap of over $83.2 million and a long-term performance that has seen gains of more than 103.71% in the past month, I believe that dForce is one to watch.

On the other hand, PHA received only a slight boost of 10% after its Binance Futures listing, but its long-term performance suggests a better outlook. In just the past week, PHALA has skyrocketed by 327%, and in the past month, it has seen gains of around 212%. This indicates that investors are bullish on Phala Network’s future prospects as well.

As someone who has been following the decentralized finance (DeFi) space for quite some time now, I am particularly intrigued by dForce’s offering of permissionless liquidity and infrastructure protocols for stablecoins, real-world assets, and yield tokens. The fact that DF can be staked to govern the network adds an interesting layer of participation to the project.

Phala Network is also an exciting project, with its focus on providing privacy and secure cloud computing solutions on Web3. Its utility token, PHA, powers the system and plays a crucial role in its operation.

In terms of investment, I would recommend keeping a close eye on both projects, especially dForce given its recent surge following the Binance listing. However, as always, it’s important to do thorough research before investing in any project and never invest more than you can afford to lose.

Lastly, let me leave you with a little humor – I guess when it comes to cryptocurrency, sometimes all it takes is a simple listing on Binance to “launch” a token into the stratosphere!

On December 30th, Binance introduced USDT perpetual contracts for dForce’s native tokens and Phala Network’s tokens. This announcement on Binance Futures led to a 26% increase in the value of dForce.

On December 30th, as per the official announcement, trading for the pair PHAUSDT will commence at 11:30 UTC. Fifteen minutes later, or precisely at 11:45 UTC, trading for DFUSDT will also become available, following PHAUSDT’s launch.

Two types of contracts, each with up to 75 times magnification, will initially be available. Each contract’s smallest increment is 0.00001. Initially, the maximum funding rate for both DFUSDT and PHAUSDT perpetual contracts will be set at +2.00% (for buying) and -2.00% (for selling). The system will recalculate the funding fee every four hours.

Moreover, Binance will provide multi-asset trading support for both perpetual tokens.

Immediately following the announcement, the price of the dForce token surged as much as 26%, based on information from crypto.news. Currently, DF is being traded at approximately $0.095. Over the last week, the price of the dForce token has increased by more than 30%, and over the past month, it has experienced a gain of about 103.71%.

As an analyst, I find myself examining the market position of DF, a token with a staggering market capitalization exceeding $83.2 million. This impressive figure propels DF into the 636th spot on the overall rankings. The fully diluted valuation for the native token hovers around $84 million, while its 24-hour trading volume is a robust $157 million.

From my analysis, while PHALA saw only a modest 10% increase following its Binance Futures listing, it’s important to note that its recent performance suggests a more promising future. Specifically, as per CoinGecko data, PHALA has experienced an astounding surge of 327% over the past week and approximately 212% in the last month.

dForce represents a decentralized Chinese finance system, renowned for its borderless liquidity. It provides several infrastructure services such as decentralized digital currencies that maintain stability, tokens representing real-world assets, and yield tokens. DF is the utility token used within dForce, which can be deposited to make decisions about the network’s governance.

The Phala Network functions primarily as a blockchain service, specializing in delivering enhanced privacy and secure cloud computing capabilities within the Web3 environment. It’s fueled by the PHA utility token, which plays a crucial role in its operation.

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2024-12-30 14:38