Vine, the Solana-based Meme coin launched by Vine co-founder Rus Yusupov, is coming to Binance Futures as a USDT-based perpetual contract.
In a recent noticeBinance Futures announced that it will add Vine coin and Pippin on USDT (USDT) – Perpetual contracts based from January 24, 2025 at 10:00 UTC for Vine and 10:15 UTC for Pippin. Binance Futures offers maximum leverage of up to 25x for both USDT margined contracts.
The maximum funding rate for VineUSDT and Pippinusdt perpetual contracts at launch will be +2.00% and -2.00%. The funding fee calculation frequency will occur every four hours.
Additionally, Binance will provide multi-asset trading support for both perpetual tokens.
Unlike most Meme corners This experience of an increase after perpetual contract announcements from Binance, Vine and Pippin appears to have declined in value. After launching two days ago, Vine Coin is down 11.5% in the last 24 hours and 18.4% in the last hour. Minutes after the Binance futures announcement was published, its price reached $0.26 before dropping to $0.22. Vine is currently trading at $0.21.
The social media app-inspired MEME coin now available has reached a market capitalization of $217 million. However, its 24-hour trading volume managed to exceed $1.6 billion in a short time.
Pippin performed a little better than Vine, rising almost 9% in the last hour following Binance’s futures announcement. However, the token’s value slipped by 7.6% in the last 24 hours. Launched in November 2024, Pippin’s market capitalization stands at $144 million with a 24-hour trading volume of $88 million.
Vine Coin Sparked by Vine Revival Rumor
The Vine Meme Coin was launched on January 22, 2025 by Vine co-founder Rus Yusupov as a way to “commemorate the beauty of togetherness and creation” that content creators experienced through the short-form video app. form that ruled Supreme in the early 2010s.
“We had an impact on the culture. Millions of videos have been published. I am releasing this coin to commemorate the beauty of unity and creation,” Yusupov wrote on the Vine Coin website.
He claimed that the team would not sell a single token. Instead, all profits reaped from the Vine meme piece will be donated to X, which he considers “has become a beacon of free speech and self-expression.”
Vine was shut down in 2017 by its parent company Twitter as it struggled to compete with other emerging social networks platforms at the time. Since then, Elon Musk has taken over as owner of Twitter and rebranded it to X.
On January 19, user X asked Musk to bring back Vine after Tiktok was banned in the United States. To which Musk responded that his team was “looking at it.” Many believe that Musk’s response is what prompted Yusupov to start the Vine meme coin.