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Binance Futures, OKEx and Bitfinex Expand Support of Dogecoin

UTC by Steve Muchoki · 3 min read
Binance Futures, OKEx and Bitfinex Expand Support of Dogecoin
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Dogecoin that is skyrocketing these days has attracted the attention of such major platforms as Binance Futures, OKEx, and Bitfinex.

After almost tripling the price in less than a month, digital asset Dogecoin (DOGE) has attracted the attention of three cryptocurrency exchanges, which include Binance, OKEx, and Bitfinex. Trading at $0.004629 at the time of writing, the coin has added 21.55% in the past 24-hours.

Further analysis of its past year performance reveals that in the past three months, the asset moved from lows of $0.001886 to highs of $0.005420. The volatility spiked recently making one of the most pumped altcoins in the past few days, leaving Bitcoin and Ethereum lagging far much behind.

Its approximate return on investment if purchased at the time of launch is around 728.87% according to CoinMarketCap metrics. For those not familiar with the digital coin, it was forked from Litecoin in December 2013, to be used primarily for tipping systems on Twitter and also Reddit.

Dogecoin has unlimited supply and can be mined in a similar way as Litecoin. Interestingly, altcoins with a huge number of supplies and probably a larger scale utility than Bitcoin including XRP are pumping first and at a high rate.

Dogecoin on Binance Futures, OKEx and Bitfinex

As the demand for the altcoin rises by the day, and cryptocurrency exchanges seek to further mass digital asset adoption, more listings are expected ahead. Ultimately, its liquidity and market health will continue becoming better as more crypto consumers invest their money in them.

According to a press release on its official website published on July 9, 2020, Binance Futures announced that it will launch DOGE/USDT perpetual contract that will have a leverage of up to 50 times. “Binance Futures will launch DOGE/USDT perpetual contract with the trading opening at 2020/07.10 09:00 a.m UTC. Users will be able to select between 1-50x leverage,” Binance said in a statement.

Dogecoin was also today highlighted by OKEx that announced that DOGE margin trading, savings and USDT– margin perpetual swap will be available on its system by July 10, 2020. “Trading pairs of DOGE against USDT will be available for spot margin trading,” the company said in a statement.

Lastly, Dogecoin was today given a chance by a cryptocurrency exchange, Bitfinex wrote:

“Dogecoin is landing on Bitfinex as MDOGE (MegaDogecoin), with a conversion rate of 1 million. Deposits will open on July 10 at 7:30 AM UTC, trading and withdrawals will start an hour later. Available pairs will be DOG/USD, DOG/UST and DOG/BTC.”

With all these adoptions, it might further trigger the asset to skyrocket and reach new ATH at a much higher rate.

Altcoin News, Cryptocurrency News, News
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