Here’s a look at 7 cryptocurrencies worthy of attention on Binance’s potential futures contracts
As Bitcoin once again rose above $37,000, news of the Ethereum spot ETF was exposed, and the crypto market was once again filled with bullish sentiment. As the platform with the largest number of users and the largest trading volume, the Binance platform’s news on currency listing and contract listing can still bring considerable gains to any token in the short term.
A few days ago, BADGER quickly attracted the attention of the market after experiencing an increase of more than 20% for two consecutive days. Binance subsequently announced the launch of U-based contracts at noon on November 9, adding fuel to the market. This operation is also Binances standard process for recently launching contracts. According to data from Look on Chain, there are currently 65 currencies on the Binance platform that have only spot but no contracts. BlockBeats has sorted out 7 currencies that have been hot recently and worthy of attention.
FTX Token（FTT）
Current price: $2.8
Increase (24 H/7 d/30 d): 62.8%, 118.6%, 158.4%
Market cap: $689, 998, 384
Trading volume (24 h): 628, 120, 722 USD
As the platform currency of FTX, once the worlds second largest trading platform, FTT plummeted from US$20 to a minimum of US$0.8 during the FTX thunderstorm at the end of 2022. However, almost all bankrupt platform coins have a characteristic, that is, bankruptcy returns to zero, leaving their basic The situation was extremely bearish, and those who could sell were left with no more coins left in panic. Those who could not sell were either because they had too much funds and did not accept the offer, and even if they sold, they would lose money (for example, some VCs holding FTT), except for In addition, they were locked in the FTX platform and could not withdraw during the FTX thunderstorm (such as some retail investors).
This has led to the fact that almost all the news about FTT after the FTX thunderstorm is good, and there is almost no selling pressure from retail investors. How high it can rise depends entirely on the pattern of VC and FTX bankruptcy handlers. Since April this year, FTX has been able to drive a sharp rise in FTT every time news of a restart comes out. However, the three rises ended up going back and forth.
Until a few days ago, US SEC Chairman Gary Gensler said in an interview that if the new leadership team operates with a clear understanding of the law, a restarted FTX is possible. This news caused FTT to take off again, and with the tacit approval of the SEC Chairman, this time it took off even more fiercely than before. However, it is worth noting that as the price of FTT has increased by 225% in the past two days, the value of the 267 million FTT tokens held by FTX/Alameda (accounting for 76% of the total supply) has also risen to US$427 million. As retail investors, we never know when FTX addresses will sell off, nor whether FTX will eventually successfully restart. In the worst case scenario, after buying FTT, the FTX bankruptcy handler sells it at a high level to repay creditor assets, and then FTX is ultimately unable to restart or due to changing the actual control group/being merged into other platforms, causing FTT to lose value.
Raydium（RAY）
Current price: $0.31
Increase (24 H/7 d/30 d): 12.2%, 16.8%, 96.8%
Market Cap: $75,910,102
Trading volume (24 h): 54, 463, 569 USD
Raydium is the leading DEX in the Solana ecosystem, and one of the main protocols deployed by FTX/Alameda in the Solana ecosystem. RAY also fell to the lowest price of US$0.14 during the FTX thunderstorm at the end of 2022, although it also rebounded by more than 100 within a year. %, but the price rebound of RAY is not as good as that of SOL or FTT.
According to DeFiLlama data, Raydium’s transaction fees in the past 24 hours were US$216,427, and the protocol revenue was US$25,971. However, according to the token economics of RAY, there is no profit from just holding RAY. You need to pledge RAY to get a meager 0.03% of the protocol transaction income as a reward. It can also explain why RAY is relatively ordinary when SOL and FTT are so strong.
Illuvium（ILV）
Current price: $93.67
Increase (24 H/7 d/30 d): 16.8%, 85.7%, 134.9%
Market cap: $563, 562, 431
Trading volume (24 h): 76,094,261 USD
The 3A chain game masterpiece Illuvium is a decentralized RPG and collection game. Players can use crystal shards to capture and control the mythical beast (Illuvial), and can also engage in PvP battle mode. In addition, Illuvium has an online market where users can Among them, NFT of mythical beasts are traded. After the price of ILV reached a high of $1911.26 during the bull market in November 2021, the price subsequently fell all the way, reaching as low as $37.7 in December 2022. As the market improved, ILV prices rebounded by 134.9% in the past month.
Illuvium has completed multiple rounds of financing, including a $5 million seed round in March 2021, led by Framework Ventureslin. In April of the same year, it raised US$38 million through Balancer LBP. This year, on May 31, Illuvium completed US$10 million in financing. This round of financing was fully participated by Framework Ventures.
According to its official announcement, Illuvium is scheduled to be launched on the Epic Games Store on November 28. The game is developed using Unreal Engine 5 on the Immutable X network. Illuvium includes three interoperable AAA games: Illuvium: Zero (city-building game), Illuvium: Overworld (monster world) and Illuvium: Arena (arena).
Vulcan Forged（PYR）
Current price: $5.86
Increase (24 H/7 d/30 d): 3.1%, 47.7%, 108.8%
Market cap: $140, 400, 630
Trading volume (24 h): 46, 483, 294 USD
Vulcan Forged is a community-based blockchain gaming ecosystem that operates an NFT gaming studio, marketplace, and dApp incubator. The project aims to support the creation of blockchain games through incubation programs and crowdfunding. Vulcan Forged is the creator of VulcanVerse, an open-world massively multiplayer online role-playing game (MMORPG).
On December 13, 2021, NFT game studio Vulcan Forged officially stated that the platform suffered a hacker attack and the private keys of 148 user wallets were leaked, resulting in the theft of more than 4.5 million platform native Token PYR. Based on the highest price of PYR in the past 24 hours of US$32.7, the total value of losses exceeds US$145 million, and the price of PYR as of the time of publication is US$24.37. The platform officially stated that it is trying to establish a completely decentralized wallet system, and all stolen PYR will be compensated by the platform. In addition, all trading platforms have been contacted to blacklist the hackers address, and KYC records have been conducted on a certain trading platform before tracking down the hacker.
On November 29, 2022, Coinbase listed Vulcan Forged PYR (PYR). PYR fell after prices reached a high of $49.737 during the December 2021 bull run, which saw a large attack event in the middle. Subsequently, its currency price has been consolidating around $3 for a long time. In the past month, PYR effectively broke through the consolidation space, and the price rebounded and increased by 108.8%.
Virtua Kolect（TVK）
Current price: 0.03531814
Increase (24 H/7 d/30 d): -2.9%, 55.2%, 86.8%
Market cap: $42, 152, 654
Trading volume (24 h): 17, 353, 316 USD
Terra Virtua Kolect (TVK) is a next-generation NFT ecosystem designed to help increase adoption and interoperability between games. The protocol includes the metaverse you need to create, trade, sell, and collect NFTs globally. The network spans many digital environments, including PC, AR, VR and mobile gaming platforms.
Recently Virtua Kolect (TVK) plans to rebrand and launch a new L1 blockchain after the voting proposal receives majority approval. TVK price rose to $1.2236 in March 2021, setting a new all-time high. It then fell back to $0.08 in June of the same year, and rebounded to $0.47 during the bull market in November of the same year before falling again. The currency price fluctuated greatly, and then started a long-term fluctuation between US$0.02 and US$0.04. In the past month, TVK increased by 86.8%.
In January this year, the concept of the metaverse was hot. As CZ called for metaverse, TVK rose by as much as 80% on January 29, once rising to $0.0579. The cross-platform metaverse game ecology belongs to the Binance series, including both Token and NFT, with a small market capitalization.
Osmosis（OSMO）
Current price: $0.5303
Increase (24 H/7 d/30 d): -1.3%, 20.9%, 101.6%
Market cap: $332,072,898
Trading volume (24 h): 12, 277, 730 USD
Osmosis, the Cosmos ecological DEX protocol, has recently launched nBTC that supports IBC launched by Nomic, a Bitcoin side chain development company, thus truly opening up the asset interaction bridge between Cosmos and Bitcoin. Like many Cosmos ecological tokens, OSMO circulation is mainly limited to its ecosystem, and no OSMO trading pair has been listed on CEX yet.
Mobox（MBOX）
Current price: $0.2595
Increase (24 H/7 d/30 d): -7.2%, -0.2%, 22.3%
Market Cap: $54,019,816
Trading volume (24 h): 14, 930, 222 USD
Web3 gaming platform Mobox has been making frequent moves recently. The platform announced a strategic investment in the Web3 game development platform P 12 on October 27. In addition, on November 1, MOBOX announced the launch of a new repurchase and burning plan. The team stated that it will continue to utilize the US$7 million treasury to ensure the value of assets over the long term through multi-platform integration, dynamic allocation, and on-chain and off-chain transparency. sustainable and fully deploy available resources.
From the above, it is not difficult to find that the project team seems to be aiming to use this wave of market conditions to promote the development of its platform and the value of its tokens to a higher level. However, investors do not seem to be very buying in the tepid price performance of the tokens. It remains to be seen Observe further.
