KDA Price Up by 26% Following Binance Futures Announcement

Key Points

• Binance launches futures trading for Kadena (KDA) today with up to 75x leverage.
• Folowing the announcement, KDA’s price spiked by 26%.

Binance announced the launch of futures trading for Kadena (KDA) later today, in an effort to expand the trading choices offered to users and boost their trading experience.

The KDAUSDT Perpetual Contract will launch with up to 75x leverage.

KDAUSDT Perpetual Contract Listing Details

Here are the key details about today’s futures launch by Binance:

• Launch time: 13:00 (UTC)
• Underlying Asset: Kadena (KDA)
• Settlement Asset: USDT
• Tick Size: 0.0001
• Capped Funding Rate: +2%/-2%
• Funding Fee Settlement Frequency: Every four hours starting today at 16:00 (UTC)
• Trading Hours: 24/7
• Multi-Asset Mode: Supported
• Maximum Leverage: 75x

According to the exchange’s official announcement, Binance may decide to change the Futures contract’s specifications, according to various market risk conditions.

The specifications that are subject to potential change by Binance include the following:

• Funding fee
• Tick size
• Maximum leverage
• Initial margin
• Maintenance margin requirements

It’s also worth noting that Multi-Asset Mode allows users to trade the KDAUSDT futures contract across various margin assets. When the Multi-Asset Mode is activated, users will be able to use Bitcoin (BTC) as margin when they trade the futures contract mentioned above.

Also, the KDAUSDT Perpetual Contract is subject to Binance’s Terms of Use and to Binance Futures Service.

KDA Price Surges After Binance Announcement

Following Binance’s announcement, KDA’s price spiked to $0.64.

At the moment of writing this article, KDA is up by over 26% in 24 hours and has a market cap of almost $183 million.

What is Kadena (KDA)?

Kadena (KDA) is a PoW blockchain that combines the PoW consensus mechanism from Bitcoin with directed acrylic graph (DAG) principles to deliver a scalable version of Bitcoin.

According to the team behind the project, Kadena can offer the security of Bitcoin while being able to provide unparalleled throughput that makes the blockchain usable to enterprises and entrepreneurs.

Kadena’s unique infrastructure is decentralized and built for mass adoption due to its multi-chain approach.

Other important features of Kadena include the following:

• Energy-efficiency at scale
• Delivering more transactions with the same energy input
• Offering crypto gas stations, allowing businesses to pay for customers’ gas fees

KDA is the blockchain’s native token with a total supply of 1 billion tokens.