Binance has launched new perpetual contracts for Phala Network (PHA) and dForce (DF) with up to 75x leverage, sparking increased trading activity and driving significant price surges for both tokens.
Key Highlights:
- Binance introduces perpetual contracts for PHA and DF, offering high-leverage trading.
- Phala Network (PHA) surged 310% in a week, fueled by Binance and Bitget listings.
- dForce (DF) gained 120% over the past month, supported by Binance’s new offerings.
Binance’s Perpetual Contracts for PHA and DF
On December 30, Binance announced the launch of USDT-margined perpetual contracts for Phala Network (PHA) and dForce (DF) tokens. These contracts, offering up to 75x leverage, allow traders to engage in high-risk, high-reward trading.
- PHAUSDT Contract: Launched at 11:30 UTC.
- DFUSDT Contract: Launched at 11:45 UTC.
Both contracts include a capped funding rate of +2.00%/-2.00% and support Multi-Assets Mode, enabling users to use multiple assets (like BTC) as margin. Binance has emphasized that these listings are for futures trading and do not guarantee spot listings.
To manage risk effectively, Binance highlighted that the funding fee for these contracts would settle every four hours. The exchange reserves the right to adjust trading specifications based on market conditions to ensure user safety and satisfaction.
Price Action: PHA and DF Surge
Phala Network (PHA):
- Price: $0.522
- Weekly Surge: 310%
- Market Cap: $395 million
- Trading Volume: $400 million (despite a 27% drop).
This growth is attributed to its listing on Bitget, which caused a 50% price spike. Binance’s support is expected to further expand PHA’s user base, driving additional trading activity and visibility.
dForce (DF):
- Price: $0.099
- Monthly Surge: 120%
- 24-Hour Increase: 15%
- Market Cap: $91 million
- Trading Volume: $159 million.
Binance’s introduction of perpetual contracts has boosted market confidence in DF, further supporting its upward momentum.
What’s Next for PHA and DF?
The addition of perpetual contracts by Binance positions both Phala Network (PHA) and dForce (DF) for further growth. Increased visibility, trading volume, and market confidence are likely to drive the prices of these tokens higher.
As both assets gain backing from one of the largest crypto exchanges, traders anticipate continued rallies, potentially setting new highs in the competitive crypto market.
