$SEI could draw a price of around 26 cents after its impending debut on Binance next week, data from aevoxyz pre-listing futures shows. By godbole17.
on Wednesday with SEI contracts, allowing traders to speculate on the potential post-listing price of the cryptocurrency. The product is analogous to IOU futures offered by some exchanges.
"The pre-launch futures improve price discovery as users can go both long or short," Aevo's Co-founder and CEO Julian Koh told CoinDesk.per Binance . So, at an early price of 26 cents, the cryptocurrency will have a market cap of $486 million and rank among the top 100 cryptocurrencies. As of now, SEI is not available for trading on any cryptocurrency exchange, according to data tracked byOnce the cryptocurrency goes live on Binance, the pre-listing futures will start referencing the index price and charge funding rates to traders to keep prices aligned with the spot market value.
In other word, the pre-listing futures will become perpetual swaps after the exchange listing. Funding rates are periodic payments by bullish long or bearish short position holders. Longs pay shorts when perpetuals trade at a premium to the spot price. Meanwhile, shorts pay longs to keep their bearish bets open when perpetuals trade at a discount.
Aevo has put strict position limits and open interest caps in these markets, considering the experimental nature of the product. The futures are margined and settled in the dollar-pegged stablecoins USDC.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rollbit's RLB Token Rockets 60% as Crypto Casino Bets on Daily Token BurnCrypto casino and exchange Rollbit plans to buy and burn its RLB tokens daily, leading to a surge in prices by over 63%. Rollbit, which offers trading, sports betting, arcade games, and a tokenized jackpot, has generated revenue of over $2 million in the past 24 hours.
Read more »
Token Swap vs Token MigrationToken Swap vs Token Migration Discover the critical role of token swaps in the crypto ecosystem, and learn the differences between token swaps and migrations in this article
Read more »
How to Use a Blockchain ExplorerA basic guide on how to start using a blockchain explorer. Avalanche now each have a well-developed and growing ecosystem of native tokens. Block explorers allow you to access a wealth of information about a token by simply searching for its token contract. This can help you research a token before potentially investing in it, or even help you determine whether the token is genuine or not (see for more on fake tokens)
Read more »
PayPal Launches Digital Token to Capture Crypto PaymentsPayPal becomes the first major U.S. financial institution to introduce its own stablecoin, following the success of allowing users to buy and transact with various cryptocurrencies. The company aims to enable customers to use its stablecoin for online game payments, Web3 applications, and international transactions.
Read more »
Coin vs Token: What Is the Difference?Coin vs Token: What Is the Difference? Coins versus tokens — just two sides of the same crypto coins? Not quite — learn the difference between these two terms
Read more »
Blockchain Capital's X Account Hacked for Token Claim ScamThe X account of venture capital firm Blockchain Capital, formerly known as Twitter, has been hacked by scammers who are trying to deceive users with a fake token giveaway.
Read more »