Important insights:
- Binance has released a list of permanent contracts for Puffer and Port3 networks with 50x leverage.
- Puffer and Port3 prices have earned double digit profits since the announcement, and Puffer has earned 25%.
On Tuesday, Binance, the world’s largest crypto exchange, said it would list permanent contracts for Puffer and Port3 networks. As a result, Puffer Price rose 25%, while Port3 rose above 12%, sparking speculation in the community for an even higher price hike.
Puffer is a distributed platform focused on enhancing Ethereum’s scalability and security through liquid redevelopment and roll-up solutions. PORT3 Network is an AI data layer network designed for AI-driven services and intelligent strategies.
Binance launches permanent trading of Puffer and Port3
In an official announcement on June 3rd, Binance announced the commencement of a permanent contract between Puffer and Port3. The move will expand the list of trading options and trading experiences that Crypto Exchange offers on Binance Futures.
Users can begin trading PufferUSDT permanent contracts with up to 50x leverage at 08:30 UTC starting June 4th. Similarly, a perpetual PORT3USDT contract with up to 50x leverage will be available for transactions from 08:45 UTC on June 4th.
Additionally, Binance will add the above perpetual contracts to its futures copy trading offerings within 24 hours of launch.
Based on market risk terms, Binance may adjust specifications for the foregoing futures contracts from time to time, including requirements for funding fees, mites size, maximum leverage, initial margin, and/or maintenance margin,” Binance said.
It is important to note that Binance already lists Porter and Port3 in its alpha market. However, these are not yet available for trading at Binance Spots.
Recently, Puffer Finance has announced a new roadmap and has planned to launch the AI-driven Puffer Apfchain Marketplace and MCP model for UNIFI Appchain. Puff tokens have also been added to the BNB chain.
At Puffer Price, we saw a big jump of 25%
Puffer Price saw a massive upward movement of over 25% after Binance announced its permanent offering. The price was trading at $0.2393 at the time of writing. Additionally, the 24-hour lows and highs were $0.1894 and $0.2427, respectively.
Furthermore, trading volume has increased by 4% over the last 24 hours, indicating an increase in interest among traders.
Total Huffer futures opened Coinglass interest data and showed large volatility. Puffer Futures oi rose more than 80%, but fell more than 6% in just an hour.
According to an analyst named CW, Puffer Price could rise further to a $0.32 level if it breaks through the $0.24 sales barrier. “And if it breaks the selling barrier above it, a real bull market will start,” he added.
Puff 4 Hour Chart | Source: x
PORT3 Token Price Performance
The price of the Port3 token saw a massive uplift after Binance’s announcement, but was later relaxed to 9%. Port3 token prices were collected over 50% in a week. At the time of writing, trading volumes have fallen by more than 25%, indicating a lack of interest among traders.
The 24-hour lows and highs were $0.04867 and $0.07895, respectively. The emotions remained bullish, but the purchase signal was low.
Similarly, PORT3 trading in the derivatives market was low, according to Coinglass data. Open interest on total PORT3 futures has declined 34% over the past four hours, after an increase of 84% over the 24 hours at the time of writing.