In a last-minute announcement, Binance Futures, one of the largest cryptocurrency exchanges, has added UXLINK to its futures market.
UXLINK’s Surge Continues After Listing
Before the listing announcement, UXLINK had already been riding a wave of momentum. Following the news, the altcoin has continued its rally, posting over 27% gains in the last 24 hours.
Interestingly, UXLINK is not yet listed on Binance’s spot market. This is in line with Binance’s recent strategy of listing altcoins on futures markets first, a move aimed at regaining market share from other exchanges. With this tactic, Binance seeks to capitalize on emerging trends while increasing trading volume.
UXLINK’s Market Overview
With a market cap of roughly $70 million, UXLINK is already available on several well-known exchanges, including OKX, Upbit, and Bybit. However, this new Binance listing is likely to boost the token’s visibility and attract more investors.
Part of the Arbitrum ecosystem, UXLINK is centered around decentralized social exchanges, aiming to promote the widespread adoption of Web3 social media platforms.
Binance’s Expanding Futures Strategy
Binance’s decision to list UXLINK only on its futures platform highlights its broader goal of targeting altcoins that show strong performance. This strategy helps Binance stand out among competitors and allows traders to speculate on altcoin movements without spot listings.
Analysts believe that Binance’s ability to bring altcoins like UXLINK to the forefront through futures listings could further its dominance in the cryptocurrency exchange market.
In conclusion, UXLINK’s new futures listing on Binance could pave the way for significant price movement, making it a token to watch closely in the coming weeks.
