Binance launched MELANIA Perpetual Contract, boosting meme coin popularity, while the TRUMP meme coin dropped amid market shifts and listings.
Binance has announced the launch of the MELANIA Perpetual Contract. This follows the launch of the TRUMP perpetual contract by the exchange on January 18. MELANIAUSDT on Binance comes with a leverage of up to 25x, which allows users to amplify their trading activities, although it does come with its own risks.
The exchange stated in its release that the funding fee calculation frequency is set to occur every four hours, while the funding rate of MELANIAUSDT perpetual contracts has been placed to be +2.00% and -2.00%. The contract will be settled in USDT USDT $1.00 24h volatility: 0.0% Market cap: $167.10 B Vol. 24h: $79.10 B with a thick size of 0.001.
The exchange informed users that it may adjust the terms of certain futures contracts based on market conditions. These changes could involve altering the funding fee, tick size, maximum leverage, initial margin, or maintenance margin requirements. The team added that listing a token on Binance Futures does not guarantee its availability for spot trading on the platform. Binance said:
“Based on market risk conditions, Binance may adjust the specifications of the aforementioned Futures contract from time to time, which include the funding fee, tick size, maximum leverage, initial margin, and/or maintenance margin requirements.”
Introducing the MELANIAUSDT Perpetual Contract expands the trading options available on Binance Futures, catering to users looking for diverse opportunities in the cryptocurrency market. As with all leveraged trading products, participants are advised to fully understand the associated risks before engaging.
MELANIA’s Listing on Major Exchanges Boosts Popularity and Price
Other leading exchanges, such as BitMEX and Bybit, have also announced the listing of MELANIA MELANIA $0.21 24h volatility: 2.3% Market cap: $153.06 M Vol. 24h: $7.10 M , a meme coin inspired by the incoming U.S. First Lady. The token’s listing on major platforms has boosted its popularity, leading to a surge of over 40% in the last 24 hours. Its market capitalization has surpassed $2 billion, and the token is trading at $10.50 at the time of writing.
On-chain data provider Lookonchain reported that a trader used two wallets to make $47.5 million by trading MELANIA. One wallet spent 2,100 SOL (approximately $560K) to buy 1.52 million MELANIA and sold it for 46,453 SOL ($11.5M), earning an $11M profit. The other wallet used 800K USDC to buy 3.84 million MELANIA, sold half for 16.45 million USDC USDC $1.00 24h volatility: 0.0% Market cap: $67.55 B Vol. 24h: $14.88 B , and retained the remainder worth $20.85M, resulting in a total profit of $36.5M.
MELANIA’s Launch Leads to TRUMP Meme Coin Decline
However, the launch of MELANIA caused a significant crash in the TRUMP meme coin TRUMP $8.89 24h volatility: 0.9% Market cap: $1.78 B Vol. 24h: $421.18 M . The Kobeissi Letter reported on X that the TRUMP token dropped by over 40% after Melania Trump introduced her own meme coin.
The listing of MELANIA on top exchanges may lead to further price increases. This development could also signal a trend toward the introduction of more meme coins in the crypto space.
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