WHY and CHEEMS Tokens Gain Investor Attention as Binance Introduces Futures Trading with 75x Leverage
Crypto tokens WHY and CHEEMS have emerged as hot topics among traders and investors after Binance announced the launch of USD-margined perpetual contracts for both assets, offering leverage of up to 75x. Despite this optimistic development, both tokens saw significant price declines, raising mixed reactions in the market.
Key Highlights:
- Binance Futures Launch: Binance introduced perpetual contracts for WHY and CHEEMS on November 25. Trading for the 1000WHYUSDT contract began at 11:30 UTC, followed by the 1000CHEEMSUSDT contract at 11:45 UTC. Both contracts offer a maximum of 75x leverage.
- Enhanced Features: Binance is supporting a ‘Multi-Assets Mode’ for these tokens, allowing better risk management and enhanced liquidation options for users. The announcement has sparked optimism about increased investor activity and capital inflows.
Token Performance:
- WHY: Despite the futures listing, WHY dropped by 11% in intraday trading, settling at $0.0000002554. The token’s daily range was between $0.0000002337 and $0.0000003843.
- CHEEMS: Similarly, CHEEMS fell by 30% intraday, trading at $0.0000007016, with a daily low of $0.0000006198 and a high of $0.000001534.
Market Sentiment:
The unexpected price drops have led to uncertainty among investors, even though futures listings on Binance have historically boosted token prices. For instance, Solana meme coin SLERF experienced a 55% surge following its futures listing, and HIPPO also saw substantial gains.
Market watchers remain intrigued by the contrasting performance of WHY and CHEEMS, with speculation about whether they might follow a similar upward trajectory in the future. Investors continue to monitor the situation closely, as Binance’s involvement typically adds credibility and potential growth opportunities for listed tokens.
