Binance Listed a Meme Coin, Price is Rising

The world's largest cryptocurrency exchange Binance continues to attract investors' attention with a new altcoin. According to an announcement made on October 8, 2023, Binance has added a meme coin called 4 to its futures trading platform. This new coin is built on the BNB Chain and offers investors a maximum 50x leverage.

The 4 token's Tether (USDT) margined perpetual futures contract opened for trading at 14:30 Turkish time. Binance stated that the funding rate for this contract would initially be set at %0.005 and would then be updated within a range of -%2.00 to +%2.00. Funding fees will be calculated every 4 hours.

It was emphasized that changes could be made to funding rates, maximum leverage rates, and trading limits depending on market conditions. Furthermore, the fact that Binance's new futures contract supports the Multi-Assets Mode feature allows users to trade with different collateral assets such as Bitcoin (BTC).

The 4 meme coin first came to the fore after the hacking of the BNB Chain's UK account. The attackers made posts promoting the 4 token through this account, and the community humorously embraced the situation, thereby increasing the coin's popularity. With a rise of over %400 in a short time, this meme coin gained further attention when it was humorously supported by Changpeng Zhao (CZ). Although there is no direct connection between the project and CZ, the process that began with the hacking incident turned 4 into a notable phenomenon within the Binance ecosystem.

As a result of recent developments, the price of 4 has risen by %16 according to CoinGecko data, increasing from 0.18 dollars to 0.21 dollars. This rise presents an important opportunity for investors.

It is crucial for investors to closely monitor these new developments and evaluate potential opportunities. Particularly, the future performance of the 4 token becomes intriguing with support from a large exchange like Binance.