Simon's Cat (CAT), a BNB chain-based token, recently gained over 26% on Oct. 21, when Binance announced the listing of its perpetual futures.
Simon's Cat (CAT), a BNB chain-based token, recently gained over 26% on Oct. 21, when Binance announced the listing of its perpetual futures, and introduced the 1000CAT derivatives contract with a leverage capability as high as 75x.
CAT, a meme-driven cryptocurrency, launched with a strategic airdrop targeting FLOKI token holders. It has gained 138% since its launch on Aug. 22.
Market data indicates that CAT has held up particularly well since it consolidated for three weeks in late September. Recently, the token has surged even more dramatically, reaching a seven-day high of $0.00003996, and up 45% in the last 24 hours. This run has taken the token to a price still 21% below its all-time high of $0.00004624, recorded shortly after it was first listed on the KuCoin exchange.
The derivatives market has received the inclusion of CAT fairly well: at one point, CoinGlass reported its trading volume was up 226% over 24 hours, almost touching $200 million. For now, the current trading dynamic stands nearly balanced between the longs and the shorts, with a ratio of 0.9968.
The implementation of the Binance perpetual futures includes advanced features for four-hour funding fee settlements and pre-set parameters of controlled slippage between +2% and -2%, an effort aiming to maintain market stability. Further compatibility with multi-asset mode also adds more trading flexibility for the market players.
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