Binance Futures, a crypto derivatives trading platform owned by Binance, has revealed plans to list the Solana-based memecoin, MYRO. The announcement has sparked a significant 43% price surge for the cryptocurrency.
#Binance Futures will launch the $MYRO USDⓈ-M Perpetual Contract and 1000PEPE USDC-M Perpetual Contract at
????Mar 5 2024, 08:30 (UTC) and Mar 7 2024, 08:30 (UTC) respectively.
Read more➡️ https://t.co/8F4cihh3ds pic.twitter.com/ZZLqXTOCvs
— Binance Futures (@BinanceFutures) March 5, 2024
MYRO Offered on Binance Futures
According to the announcement published earlier today, Binance Futures noted that MYRO will be featured on its platform, with USDT as the settlement asset. The memecoin will trade under the perpetual contract, enabling traders to trade the asset without an expiration date. Users can also trade with up to 50x leverage. MYROUSDT began trading on Binance Futures at 08:30 UTC.
Alongside MYROUSDT, Binance revealed another memecoin, PEPE, to enter its futures market. With USDC being the settlement asset for the memecoin, it uses the perpetual contract – 1000PEPEUSDC. It will be listed on the Binance Futures market on March 7th.
MYRO Soars Over 43%
Myro is a Solana-based memecoin named after the pet dog of Solana’s co-founder, Ray Gokal. It emerged when Solana users clamoured for a dog-themed cryptocurrency within the proof-of-stake (PoS) ecosystem. Other blockchains like Ethereum have a basket of memecoins under the dog-themed narrative. Prominent memecoins in this category include Dogecoin and Shiba Inu.
The Solana-based memecoin has been listed on different cryptocurrency exchanges like Kucoin. It is also available on decentralized exchanges such as Jupiter and Raydium.
Following Binance’s announcement to onboard MYRO, the memecoin’s value has recorded massive increases. Less than two hours after the notice was published, the asset soared to approximately $0.3, marking an all-time high for the memecoin that was launched late last year.
At the time of writing, Myro was trading at $0.27, a 43% increase in the past 24 hours and a whopping 255% surge in the last seven days.
Source: CoinStats
Myro’s market capitalization has also increased. With a market cap of over $271 million, MYRO ranks as the 11th largest memecoin in the market.
