Binance Launched Futures Trading for Ethereum-Based Altcoin

The important crypto exchange Binance is launching the futures trading for ETH-based altcoin. Check out the following reports below.

Binance, the world’s largest cryptocurrency exchange by volume, is launching futures trading for Powerledger (POWR). This Ethereum-based altcoin has surged over 50% in a week.

Binance announced that it would be offering futures contracts with leverage of up to 50x for Powerledger, which is a decentralized energy market built on top of ETH.

Powerledger aims to support the decentralization of the energy grid, assist in shifting towards renewable energy, and allow consumers to keep track of their power usage, according to its official website.

“We aim to lead the global democratization of the energy market in a way where people have access to the energy they need, can participate directly in energy markets, and improve their lives and the lives of others…

Our mission is to empower ordinary citizens and corporations alike, so that their renewable energy generation, storage, and buying power is harnessed in an optimal way. Our mission includes bringing continuity in transmission and distribution that is less liable to conventional grid failures.”

Binance has announced that they will start offering futures contracts for Powerledger from tomorrow. As of now, the trading value of POWR is $0.247, which is a 22.5% decrease within the last 24 hours.

However, it has witnessed an increase of 59% since October 19th, when it was priced at $0.156.

BitMEX co-founder, Arthur Hayes, has shared his prediction about the event that will trigger a full-scale bull market for Bitcoin (BTC) and crypto.

According to Hayes, it won’t be the approval of a spot BTC exchange-traded fund (ETF). In a recent blog post, he expressed his thoughts on how President Joe Biden’s support of Israel may lead the US into another open-ended conflict.

Hayes believes that this conflict and the resulting fears of wartime inflation will lead to a rise in the value of Bitcoin and gold. Check out the info about the matter in our previous article.