Binance officially launched the LINK quarterly futures on their platform before they did Ethereum’s because of the increase in popularity for LINK so let’s read more in our latest Binance news today.
The popularity of Chainlink resulted in launching the LINK quarterly futures on Binance before Ethereum but the price of the asset dropped earlier below the $7 level and now increased slightly to $7.63. The Binance crypto exchange announced that they will be launching LINK’s quarterly futures contract and the trading will commence today, July 22nd. Traders can use a maximum of 75x leverage once the LINK quarterly futures contract goes live and will expire on September 25th, 2020.
#Binance Futures Will Launch #LINKUSD Quarterly 0925 (September 25th) Futures Contract With Up to 75x Leveragehttps://t.co/OaX3FdbaPh pic.twitter.com/3aiDQKUTkF
— Binance (@binance) July 21, 2020
One important fact stands out which is that Link-based contracts were launched before Ethereum and there are now two digital assets on the platform, Bitcoin and Cardano. Now, Link is the third. The popularity of Chainlink amongst traders is the main reason that the exchange chose to list it before doing that of Ethereum. LINK’s daily trade volume eclipsed briefly before Ethereum and around the same time, the crypto-asset hit an all-time high value of $8.92.
LINK’s daily trade volume is still quite high despite the emergence of the malicious report last week by Zeus Capital which claimed that the project was a fraud. The report predicted the LINK’s value on the crypto market will crash by almost 100% to a level of $0.07. However, Crypto twitter since debunked the report which was pulled down from the Zeus Capital website and the malicious report was linked to another project in a tweet. LINK benefited a lot from Bitcoin’s surge above the $9300 level.
1) $NEXO has been making waves on #Crypto #Twitter this weekend after suspicions have arose about some of their staff's involvement in attempting to negatively impact the price of $LINK using a potentially inauthentic firm knows as #ZeusCapital. The story pic.twitter.com/MCrzZtKeB3
— Santiment (@santimentfeed) July 20, 2020
A short look at the LINK/USD chart reveals that the digital asset experienced a huge bounce around the 50 MA but the LINK/USD pair still looks like it’s in the middle of the pullback because of the impressive push earlier this month to its new all-time high of $8.92. Therefore, staying at a current value of $7.63 could be a gamble for Chainlink given the fact that the altcoin is not heavily influenced by Bitcoin’s price action. This is the reason why LINK was pumping in the markets despite the flat situation of Bitcoin. Caution is advised at times like these when LINK is trading as Bitcoin pumps.
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