As part of its new offerings on USDT Perpetual Contracts, Binance is launching the viral meme coin SPX6900. Starting December 10 at 12:SPX6900 will make its debut as the SPXUSDT perpetual contract, up to 75x leverage, at 45 UTC. Binance Futures are simply a part of a bigger game plan to launch four other tokens on Perp contracts.
Raydium (RAYSOLUSDT), Koma Inu (KOMAUSDT), and Virtuals Protocol (VIRTUALUSDT).
funding fee will vary from +2.00% to -2.00% from +2.00% to -2.00%, re-adjusted every four hours; SPXUSDT contract. The tick size is also set on the contract at 0.0001 beside that. The goal of these conditions is to offer traders the ability to capitalize on market conditions.
Binance SPX6900 Meme Coin Sees Modest Gains Despite Launch
Still, despite the announcement, SPX6900 hasn’t rallied too much. The meme coin has risen almost 10% over the last 24 hours. SPX6900 is up 21.6 percent over the past week, and up 42 percent over the past two weeks. At press time the token has a 24 hour trading volume of $55 million and is currently are trading with $0.71.
SPX6900 has a market capitalization of $642 million and currently takes the 176th place on the cryptocurrency leaderboard. The coin itself has a max supply of 1 billion tokens, making it a 930 million token circulating supply. The full valuation stands at $642 million fully diluted.
Inspired by the popularity of internet culture, SPX6900 seeks to push the boundaries of traditional fungible financial indices, like the S&P 500. The name of the meme coin is a play on the idea that the coin’s 6900 is more than the S&P 500 at 500.
Alongside SPX6900, Binance Futures will also list RAYSOLUSDT at 12:The trades were done at 00 UTC on December 10, using KOMAUSDT at 12:15 UTC, and VIRTUALUSDT at 12:30 UTC.
