BANK Price Soars After Binance Futures Adds Perpetual Contract Option

Lorenzo Protocol's token, BANK, experienced an enormous price increase of 150% within a single day. This occurred following the announcement by Binance, a leading crypto exchange globally, that it would list coin on its futures trading segment. This event is already getting the attention of traders and investors globally.

On Saturday, the price movement of the token went from as little as $0.018 to more than $0.052 in a matter of hours. This huge increase happened after the announcement, that it will introduce USDT futures contract. It will enable people to trade with more funds than they have in account. It is a feature called leverage.

Binance Launches BANK Futures With Up to 50x Leverage

It made the new futures listing official on April 18. BANK/USDT contract went live for trading at 6:30 PM UTC on the same day. Traders are now able to use a leverage of up to 50x with this new listing, which allows them to trade much larger quantities by taking loans.

It also imposed a funding rate cap of +2% to -2%, which assists in maintaining the price of the futures contract in close proximity to the real price of the token. This renders trading smoother and more stable for all.

Source: X

Additionally, the currency will also be tradable for "copy trading" on Binance Futures . This allows users to replicate the trades of professional traders. It's perfect for novices who are new to trading or those who want to profit without actually doing the work themselves.

Why are People Interested in BANK?

Lorenzo Protocol is a protocol designed for asset management. In short terms, it assists individuals in increasing their crypto by providing tokens with yield. The tokens are secured by intelligent strategies that try to generate revenue in the long term.

Now that the token is traded on the platform, everyone is taking notice. Traders believe that this may attract more investors and more funds, potentially nudging the price even higher. Following the massive 150% surge, some believe this is the beginning of a sustained long-term trend.

More Listings from Binance

In addition to this, the platform also revealed that it will be listing another token, Balance (EPT), soon. This indicates that it is still expanding with new crypto assets, offering traders more opportunities to discover the next big winner.

Final Thoughts

The 150% price surge of Lorenzo Protocol (BANK) demonstrates the enormous influence a Binance listing has. With its new features of trading and copy trading, it is attracting much attention. All the investors are now monitoring the token to see if the surge will continue. In the crypto industry it is good advice to remain resilient and keep tracking the movements of the market.