UXLINK Token Surges Over 100% Following Binance Futures Listing

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Despite a general decline in the cryptocurrency market on Monday, the local token of the Web3 social platform UXLINK surged by 102% in weekly gains. This increase was driven by the announcement from leading cryptocurrency exchange Binance, which listed the UXLINK token on its futures platform.

Binance’s UXLINK Futures Listing

On Sunday, Binance announced the launch of a USD-margined perpetual contract for UXLINKUSDT, allowing traders to operate with leverage of up to 75 times. Trading for the UXLINKUSDT contract commenced the same day at 15:00 (UTC). As the largest platform by volume in the cryptocurrency exchange space, Binance’s listings are crucial as the number of futures trading options increases.

In its announcement, Binance mentioned that the contract had a limited funding rate of +2.00 / -2.00. The exchange also indicated that it might make future adjustments to funding fees, leverage, and margin requirements based on market risk conditions, as is standard with all listings.

UXLINK Token’s Price Increase

The price of UXLINK continued its upward trajectory, trading at $0.3915 with a 6.5% increase in the last 24 hours. Its weekly performance is remarkable, reflecting an almost 102% rise over the past seven days. The Binance listing has significantly increased demand, triggering this rally.

UXLINK’s 24-hour trading volume also increased by 46%, reaching $488 million, which confirms rising trader interest. Additionally, the open positions in UXLINK futures contracts have reached $47 million. According to CoinGlass data, UXLINK’s derivative volume has surged to $895 million, indicating increased demand in both spot and futures markets.

Launched in July, UXLINK has achieved a market value of $66.3 million, marking a 160% increase in its value over the past month. In May, UXLINK partnered with Binance’s Web3 Wallet to launch a campaign aimed at boosting user engagement, offering rewards such as UXLINK airdrops and UXUY points. This initiative increased platform visibility and attracted new users.

The UXLINK social media platform has gained recognition for its rapid user growth since its launch. It has become the largest Web3 social platform, enabling users to discover, engage, and invest in promising crypto assets. The platform boasts approximately 27 million users worldwide.

As the Web3 space continues to grow, UXLINK’s role as a social platform, especially with the support of major exchanges like Binance, presents further growth opportunities. In March, UXLINK successfully completed a funding round of $9 million from investors, including OKX Ventures.

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