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Binance Lists MOG Coin with 75X Leverage: Will This Fuel a Price Rally?

Arslan Butt•Thursday, November 7, 2024•2 min read

Binance Futures just added a MOG Coin (MOG) perpetual contract with up to 75X leverage. A 1000000MOGUSDT perpetual contract is now available for trading. Binance wants to attract experienced traders to trade MOG, especially those who are bullish on MOG’s future.

Usually announcements from top exchanges like Binance boost market sentiment and increase interest and trading activity. Many expect the listing to pump MOG in the next few days.

https://twitter.com/memeinsidernews/status/1854494607347736922

75X Leverage Means High Risk, High Reward

The new MOG listing allows traders to trade with up to 75X leverage. High leverage means high gain and high risk. This is for experienced traders who want big returns and can manage big risk. Binance is offering this leverage to attract active traders.

MOG Futures Contract Details:

  • Leverage: Up to 75X
  • Settlement: USDT
  • Tick Size: 0.0001
  • Funding Rate Caps: +2.00% and -2.00%

Also the listing supports Binance’s Multi-Assets Mode, where traders can use other assets like Bitcoin as collateral to trade MOG contracts. This feature gives more flexibility and control over collateral requirements and makes the platform more suitable for traders with multiple assets.

https://twitter.com/BiancaViceroy/status/1854050224156618801

Will Binance’s MOG Listing Pump MOG?

Despite the good listing news, MOG Coin was down 3% to $0.000002063 at the time of writing. But MOG trading volume surged 173% to $128.15 million. CoinGlass also reported 2.35% increase in MOG Coin Futures Open Interest to $685K.

Listing news from top exchanges usually pumps the price of newly listed assets in the short term. Recent listings of COW and CETUS showed how much impact exchange announcements can have on market sentiment.

Traders Notes:

  • High leverage means high gain but high risk, especially with meme coins that are volatile.
  • Multi-Asset Collateral means flexibility, you can use other assets like Bitcoin as margin.
  • Market Impact: Binance listing can attract attention and pump MOG if demand increases.

Binance listing can pump MOG but be careful. High leverage is high risk especially with meme coins. Always do your due diligence and manage your risk.

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ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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