In an exciting development for the cryptocurrency community, Binance has announced a new futures listing. This time it is for Santos FC Fan Token, SANTOS.
In an announcement, Binance Futures stated it will be launching the SANTOS Perpetual Contract on Oct. 28, 2024, at 2:00 p.m. (UTC). This move, Binance says, is to expand the list of trading choices offered on Binance Futures and enhance users’ trading experience.
#Binance Futures will launch the USDⓈ-Margined $SANTOS Perpetual Contract at 🗓️ Oct 28 2024, 14:00 (UTC)Read more ➡️ https://t.co/tBWxTiVfkw pic.twitter.com/c2urKULxyz
— Binance Futures (@BinanceFutures) October 28, 2024
The SANTOSUSDT Perpetual Contract, with underlying asset Santos FC Fan Token (SANTOS), will be launched with up to 75x leverage.
Santos FC Fan Token (SANTOS) is a fan token of the eponymous football team that was launched by a partnership between Santos FC and Binance Launchpool in November 2021. Santos FC, aka Santos Futebol Clube, is a Brazilian sports club in the state of São Paulo, based in Vila Belmiro.
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The introduction of this futures contract means that traders can now speculate on the future price movements of the SANTOS token without necessarily owning it.
Santos price jumps 104%
Binance's decision to list the SANTOS Perpetual Contract marks an important milestone, and the price of the Santos FC Fan Token has jumped in response.
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At the time of writing, Santos FC Fan Token was trading at $6.21, up 104.13% in the last 24 hours. SANTOS' 24-hour trading volume has skyrocketed by a whopping 1,853.76% to stand at $213,891,641, per CoinMarketCap data. The cryptocurrency's market capitalization has likewise soared to over $34 million.
In the past week, Binance announced new futures listings, which it also stated was to expand the list of trading choices offered on the Binance Futures platform. Perpetual Contracts for SAFE and Moodeng were launched in the past week, with up to 75x leverage.
