Melania Trump’s crypto coin soared as much as 76% after Binance announced it would provide trading support for USDT-based perpetual contracts for MELANIA.
MELANIE (MELANIE) is launched on Binance via USDT (USDT)perpetual contracts based on leverage of up to 25x. THE coin the contracts will be available on the platform of the leading cryptocurrency exchange from January 20, 2025 at 09:30 UTC. This launch comes just two days after the launch of Binance’s TRUMPUSDT perpetual contracts on January 18.
In a recent announcement published on January 20, Binance announced that it would settle the contract in USDT with a tick size of 0.001. The maximum funding rate established for MELANIAUSDT perpetual contracts will be +2.00% and -2.00%. The frequency of calculating financing fees is set at every four hours.
Shortly after Binance Futures announced the launch of USDT-based contracts for MELANIA on its platform, the meme coin surged by as much as 76%, taking the token’s value to $13.06 within minutes. However, it has since slowed down, falling to $12.59.
The piece MELANIA on the rise
Just minutes before Binance’s announcement, other exchanges like Bitget And ParBit also released perpetual contracts for the MELANIA and TRUMP meme coin (ASSET).
Since its launch, the meme coin inspired by the new first lady has accumulated a trading volume of over $40 billion and a fully diluted valuation of nearly $60 billion. At the time of writing, the market cap of Melania Meme Coin stands at $1.8 billion, having increased by $300 million since Binance Futures announced the release of its perpetual contracts.
Meanwhile, TRUMP’s market cap remained stagnant at $11.7 billion with minimal changes, according to data from crypto.news. Donald Trump’s official meme piece has already lost up to $7.5 billion due to the crash after the launch of MELANIA.
According to data from Arkham, a trader managed to turn $680,000 worth of Solana into $30.4 million after purchasing 5.203 million worth of MELANIA in the second minute after MELANIA’s debut, buying the tokens at a price of $0.13. He still holds around 2.5 million MELANIA tokens, which are now worth around $30 million.
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