bullish

Simon's Cat

The cryptocurrency Simon's Cat (CAT or <a href="https://yellow.com/asset/simon-s-cat" rel="noopener noreferrer nofollow">SIMON-S_CAT</a>) soared 40% on October 21 end of the day, as Binance <a href="https://coingape.com/cat-price-blows-up-over-40-as-binance-launches-perpetual-contract/" rel="noopener noreferrer nofollow">announced the launch</a> of their USd-margined perpetual contract.
Since crypto exchange Binance is backing the meme coins with a contract that will increase the token’s outreach by 75x this surge in its price happened.
Crypto enthusiasts and traders are optimistic about the future of the BNB Chain-based meme coin after the listing on Monday. Crypto traders are expecting that CAT will sustain this upward trend as 1000CATUSDT perpetual contract strengthens it. Binance launched the contract at 12:30 UTC on October 21 as the CAT token is in line with the crypto exchange’s expansion plans.
It was revealed in the announcement that the ticket size of Simon’s Cat will be 0.00001 while the capped funding rate is +2.00% / -2.00% which might go through further adjustments based on market conditions. This is likely to cause a change in the initial margin, funding fee, maintenance margin requirements and ticket size of the meme coin.
Overall, the Binance listing has triggered a bullish movement for CAT tokens in the crypto market as the meme coins registered $0.00002296 and $0.00003555 intra-day low and high respectively. The digital asset’s trading volume increased 330% yesterday to reach $108 million with 81% and 28% monthly and weekly gains respectively.
The open interest of 1000CAT futures has risen by 92% to reach $15.80 million on Monday with derivatives touching $35.53 million, up by 397%. All this shows an increased investors’ interest in CAT due to the Binance listing. Crypto enthusiasts will continue to eye Simon’s Cat as price momentum picks up. It's already gained 45% since last month.
As of October 22 evening, <a href="https://coinmarketcap.com/currencies/simonscat/" rel="noopener noreferrer nofollow">CAT is trading</a> at $0.00003655 up by 4.98% in the last 24 hours and has a market capitalization of $245.70 million (up 2.83%) along with a trading volume of $359.46 million (up by 319.16%).

CAT Prices See 45% Jump From Previous Month After Binance Listing

Yellow News

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