Binance Launches USD-Backed Perpetual Contracts for HIPPO and X Tokens
Binance, the largest cryptocurrency exchange by trading volume, has launched USD-backed perpetual contracts for two new tokens: sudeng (HIPPO) and X Empire (X) on its futures platform. This announcement has influenced the prices of both tokens as traders anticipate increased liquidity and trading options.
Binance HIPPO and X Listing Details
The blog post indicates that users can trade HIPPO with up to 75x leverage, allowing for substantial profit or loss potential. HIPPO will also be part of Binance's Multi-Assets Mode, enabling trading with other stablecoins or cryptocurrencies for better collateral management.
HIPPO, a meme coin on the Sui platform, was priced at about $0.012 before the listing. Following the announcement, HIPPO’s value surged over 60%, reaching $0.02192 as investors increased their positions.
Additionally, Binance introduced a futures contract for X Empire called 1000XUSDT, providing traders with new speculation and risk management options. This expansion aligns with Binance's strategy to enhance its offerings for global crypto traders.
Recent Listings on Binance
Last month, Binance added a perpetual contract for the CAT token named 1000CATUSDT. This contract allows trading with up to 75x leverage, similar to HIPPO. Traders can utilize multi-assets mode and leverage Bitcoin as collateral.
Following the announcement, CAT’s price increased by over 37%. In September, Binance listed three new meme coins—Neiro, Turbo, and Baby DogeCoin—resulting in a price surge after the news. Spot trading pairs are available for NEIRO/USDT, TURBO/USDT, and 100000BABYDOGE/USDT.
Binance applies a “Seed Tag” to these new tokens, indicating high volatility. Users must complete quizzes every 90 days on either Binance Spot or Margin platforms to trade these tokens, ensuring they understand the associated risks.
Furthermore, Binance has officially launched Pixels (PIXEL), allowing trading against supported assets like USDT and Bitcoin (BTC) without conversion fees. PIXEL is also available as a borrowable asset on Binance Margin and offers perpetual contracts with up to 50x leverage.