Binance has just introduced the trading of the trending MOODENG meme token through the MOODENGUSDT Perpetual Contract, offering traders the option to leverage their positions up to 75 times.
On October 25, at 10:00 UTC, Binance Futures announced the addition of MOODENG, a meme token inspired by the Solana blockchain and a beloved pygmy hippo named Moo Deng, who resides in a popular zoo in Thailand. This Solana-based token now has its own perpetual contract on Binance, allowing users to trade it using Tether (USDT) as the settlement asset. With the platform’s set funding rate capped at ±2%, traders have an opportunity to secure funding fees every four hours, promoting flexibility in managing their trades.
In line with Binance’s other perpetual contracts, the MOODENGUSDT contract has a tick size fixed at 0.00001, offering a precise trading experience. The launch saw MOODENG’s value surge over 100%, reaching around $0.16, reflecting the increasing interest in this meme token. According to recent data from crypto.news, Moo Deng now ranks at the 327th position in market capitalization, amounting to $160 million.
Binance has also indicated that it may periodically review and modify the Futures contract details. These updates could affect parameters like funding fees, tick size, maximum leverage, initial margin, and maintenance margin, ensuring the trading environment remains adaptive and efficient for users.
Additionally, Binance’s multi-asset mode allows traders to use other cryptocurrencies like Bitcoin as margin, adding further flexibility for those engaging in the MOODENGUSDT perpetual contract.
The MOODENG meme coin, first launched on the pump.fun platform on September 11, has gained traction as fans worldwide follow Moo Deng’s adorable antics online. This hippo’s internet popularity has drawn more visitors to Thailand’s Khao Kheow Open Zoo, where daily attendance has nearly doubled. The zoo’s director, Narongwit Chodchoy, estimates that Moo Deng could generate over $6 million in revenue for the zoo by year-end.
