LOKA Price Surges 20% After Binance Perpetual Contract Listing

Binance, the major cryptocurrency exchange, declared on September 24 that the LOKAUSDT perpetual contract will be launched today at 11:30 UTC.

Binance, a major cryptocurrency exchange, announced on September 24 that the LOKAUSDT perpetual contract will be launched later today at 11:30 UTC. Following the Binance listing announcement, loka has seen a significant surge of 20% in its price.

Customers will be able to trade the LOKA perpetual contract with leverage of up to 75x, the exchange announced. Binance set a limited funding rate of +2.00% / -2.00%, with a tick size of 0.0001.

However, the perpetual contract may be subject to adjustments depending on market risk conditions, including changes to the financing rate, tick size, maximum leverage, and margin requirements, Binance noted.

League of Kingdoms (LOKA) is a blockchain-based Massively Multiplayer Online (MMO) strategy game that operates within a play-to-earn (P2E) ecosystem, where players can earn real income through gameplay. This unique feature makes LOKA particularly appealing to both gamers and crypto investors, contributing to its growing popularity.

The development has had a major impact on the market sentiment surrounding the League of Kingdoms Arena (LOKA) token, which surged nearly 20% in response to the news. Traders reacted enthusiastically to the announcement, with intraday trading volume for LOKA skyrocketing by approximately 155%.

At the time of writing, LOKA was trading at about $0.2619, up from a 24-hour low of $0.2236 and a high of $0.2959. The strong trading volume of $22.74 million reflects the heightened interest among traders following the Binance listing announcement.

This pattern is consistent with historical data, which shows that new futures listings often result in favorable price moves for tokens.

LOKA’s price surge echoes the recent performance of other cryptocurrencies on Binance. For instance, Aavegotchi (GHST) experienced a nearly 37% price increase after its futures listing. Similarly, the Telegram-based P2E project Catizen (CATI) saw remarkable gains during its debut on the Binance exchange.

Also Read: Tranchess ($CHESS) Jumps 40% Following Binance Listing