VOXEL Price Surged by More Than 55% in the Past 24 Hours, Reaching Its Highest Level Since Mid-June

The Voxies (VOXEL) token surged sharply on Aug. 20 after the world's largest cryptocurrency exchange Binance revealed a major announcement

Cryptocurrency exchange Binance on Aug. 20 announced the launch of a perpetual contract for VOXEL (VOXEL), a token used in the Voxie Tactics game.

The VOXELUSDT contract, which went live on Aug. 20 at 10:30 UTC, has a leverage of up to 50x. Binance Futures also announced on Aug. 20 the listing of Base meme coin Brett (BRETT), which sparked the meme coin’s price rally on the day.

According to Binance, the USD-Margined VOXEL Perpetual Contract has a capped funding rate of +2.00% / -2.00% and settles in the USDT stablecoin.

The announcement had a positive impact on investors as the price of VOXEL increased significantly. After trading below $0.14 earlier in the day, VOXEL spiked following Binance’s announcement and reached highs of $0.27. Although the altcoin has since retraced some of its gains, it is still trading around $0.22, up more than 55% at the time of writing.

VOXEL’s price also increased by more than 94% in the past week as bulls recovered from its May lows of $0.09.

The new development for VOXEL comes a day after the cryptocurrency exchange MEXC announced on Aug. 19 that it had added trading support for VOXEL/USDT.