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Crypto News

Binance Introduces Futures Trading for Powerledger Following Its 50% Weekly Surge

Author

Jay Solano

Tags

Tags Editor's Choice / Slider Posts

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Editor's Choice / Slider Posts

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Editor's Choice, Slider Posts

Reading time

2 mins
Last update

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Binance, acclaimed as the foremost crypto exchange globally in terms of volume, is set to initiate futures trading for Powerledger (POWR), an Ethereum (ETH)-anchored altcoin that has experienced a remarkable surge of over 50% within a week.

The recent disclosure from Binance unveils its intent to roll out futures contracts for Powerledger, offering leverages as high as 50x. Powerledger embodies a decentralized energy marketplace built atop the Ethereum platform, championing the cause of energy token democratization.

A deep dive into Powerledger’s official portal reveals its overarching vision of decentralizing the energy sector. It accentuates a shift towards sustainable energy resources and equips consumers with the tools to monitor their energy consumption meticulously.

Articulating their mission, Powerledger states, “Our prime objective is to lead a worldwide democratization of the energy landscape, ensuring unhindered energy access, fostering direct participation in energy markets, and enhancing life quality. Our endeavors aim to empower both the common populace and businesses. We envision a synergy where renewable energy generation, storage, and procurement are optimized. Moreover, our mission also encompasses ensuring consistency in energy transmission and distribution, minimizing susceptibility to traditional grid disruptions.”

Binance has indicated that the futures contracts for Powerledger are slated for introduction in the imminent future, possibly as early as the next day.

As of the current update, POWR is valued at $0.247, marking a 22.5% dip over the preceding day. However, in a broader perspective, this represents a significant 59% uptick from its October 19th price point of $0.156.