Cryptocurrency exchange titan Binance has once again captured substantial investor attention with its latest update on the SIGN token. On Tuesday, April 29, the CEX enhanced its offerings for the token’s futures listing in tandem with a 30% price rally. Now, traders and investors are left speculating if the token could sustain such a massive pump, as other renowned exchanges have also extended market support to the same.
Binance Issues Update On SIGN Token: Details
According to an official Binance release dated April 29, the CEX giant is increasing the funding rate settlement frequency of the USD-Margined SIGNUSDT Perpetual Contract from every four hours to one hour starting from April 29 at 10:00 UTC. Mentioned below are some of the other vital details that traders should know regarding this enhanced offering.
As per the announcement, this decision by the exchange comes primarily to protect users and prevent risks, given the highly unpredictable nature of digital assets. Further, the top crypto exchange also revealed that it may take additional protective measures in regard to the USD-Margined perpetual contract without further announcement, bringing changes to it.
The exchange added that it remains poised to make potential adjustments to the perp contract ahead, encompassing but not limited to changes in the maximum leverage value, position value, and other trade offerings. Users can move on to the official site for further details on the enhanced offerings.
SIGN Price Rallies Amid Support From Major CEXs
At the time of reporting, SIGN token price gained nearly 32% and was sitting at $0.1030. The crypto embarked upon a rally from a bottom of $0.06727 intraday. Notably, the bullish price trajectory comes riding the back of major exchange listings recently.
Not long ago, CoinGape Media reported that Binance revealed an airdrop event for SIGN and opened trading for the same. Moreover, the exchange also launched a SIGNUSDT futures listing recently.
On the other hand, even S. Korean exchange Upbit added the same token on its platform today, pegged to KRW, BTC, and USDT. Besides, even Asian crypto exchange OKX added the SIGNUSDT perpetual contract to its stockpile of offerings. Additionally, KuCoin revealed that the SIGN token went live for trading on the platform yesterday.
In response, broader market sentiments about the crypto’s future price action remain highly bullish in the wake of listings on top crypto exchanges. For context, listings on globally leading exchanges usually pave the way for increased investor interaction with assets, thereby bringing a surge of funds.
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