dForce Soars 26% After Binance Futures Listing on USDT Perpetual Contracts

dForce (DF), a decentralized finance (DeFi) platform, experienced a significant 26% surge after Binance announced the listing of its native token DFUSDT for USDT perpetual contracts on December 30, 2024. This news marked a key milestone for dForce, as Binance, one of the largest cryptocurrency exchanges globally, added dForce’s native token to its futures market, alongside Phala Network’s (PHA) token.

The official Binance announcement revealed that PHAUSDT would be available for trading at 11:30 UTC, followed by DFUSDT at 11:45 UTC on the same day. Both tokens are now available for USDT perpetual contracts with up to 75x leverage, offering traders an opportunity to capitalize on price movements in these cryptocurrencies. The perpetual contracts will have a tick size of 0.00001 and a funding fee that is calculated every four hours, with maximum financing rates set at +2.00% for DFUSDT and -2.00% for PHAUSDT at launch.

Following the listing announcement, dForce’s DF token surged by 26%, reaching a price of $0.095 at the time of writing. Over the past week, the token has gained more than 30%, and its monthly growth stands at an impressive 103.71%. As of now, DF has a market cap of over $83.2 million, ranking 636th in terms of market capitalization, with a fully diluted valuation of $84 million and a 24-hour trading volume of $157 million.

On the other hand, Phala Network’s PHA token saw a more modest increase of 10% following its Binance Futures listing. Despite the smaller immediate boost, Phala Network’s long-term performance is notable. According to CoinGecko, PHA has surged by 327% in the past week and around 212% over the past month, suggesting strong momentum for the token.

dForce is known for its permissionless liquidity infrastructure in the decentralized finance (DeFi) space, offering solutions such as decentralized stablecoins, real-world asset tokens, and yield tokens. The DF token serves as the platform’s utility token, enabling users to stake and govern the network.

Meanwhile, Phala Network focuses on providing privacy and secure cloud computing solutions on Web3, powered by its native PHA token. Both projects represent growing sectors within the blockchain ecosystem—dForce in DeFi and Phala in privacy-enhancing technologies. The listings on Binance Futures are expected to significantly increase the liquidity and exposure of both tokens in the market.