Binance launches MOODENG on USDT Perpetual Contract

Users can now trade the MOODENG meme token on Binance through the MOODENGUSDT Perpetual Contract, with leverage of up to 75x.

On Oct. 25, Binance Futures expanded its offerings by listing the Solana-based MOODENG token through a new perpetual contract. The MOODENGUSDT Perpetual Contract allows traders to gain exposure to the MOODENG meme coin with Tether (USDT) as the settlement asset. The contract offers a capped funding rate of +2.00%/-2.00%, with funding fees settled every four hours. The tick size for the perpetual contract is set at 0.00001.

Following the announcement, the price of MOODENG surged by over 100%, reaching a value of $0.16. As of now, MOODENG holds the 327th position in the crypto rankings, with a market capitalization of $160.2 million.

Binance also introduced multi-asset mode, allowing users to trade the MOODENGUSDT contract with multiple margin assets, including Bitcoin or other cryptocurrencies, further enhancing flexibility for traders.

The MOODENG meme coin, inspired by a pygmy hippo named Moo Deng, was first launched on the pump.fun platform on Sept. 11. Moo Deng’s internet popularity, driven by viral videos, led to increased zoo attendance, with daily visitors doubling. The Khao Kheow Open Zoo, where Moo Deng resides in Thailand, predicts the hippo will help generate over $6.13 million in revenue by the end of the year.