Dodo Crypto News Today: Binance Announces DODO Perpetual Contract with Up to 20x Leverage

The cryptocurrency market is always abuzz with news and developments, and today is no exception. In a recent announcement, leading crypto exchange Binance revealed plans to launch a new perpetual contract for the governance token of decentralized exchange (DEX) platform Dodo, DODO.

For those who may be unfamiliar, DODO holders enjoy a range of benefits, including crowdpooling, IDO allocations, and trading fee discounts. While the token is still more than 98% down from its all-time high of $8.38 in May 2021, it has recently seen a significant surge in value.

In fact, the DODO token price jumped over 33% within an hour after the Binance announcement, reaching a two-month peak. This rapid increase in value can be attributed to the news that the product will support multi-assets mode, allowing customers to trade DODOXUSDT across multiple margin assets.

The perpetual contract itself will trade under the ticker symbol DODOXUSDT and will offer users up to 20x leverage starting on August 8 at 08:00 (UTC). This means that traders can take advantage of the new product with increased flexibility and potential for higher returns.

Before today's upside, the token had been trading in a range between $0.09 and $0.10 since early June this year. The last time DODO traded at this level was back in June 2022, indicating significant growth over the past few months.

The announcement from Binance has sent shockwaves through the cryptocurrency community, with many users eagerly awaiting the launch of the new product. With its unique features and potential for high returns, it's no surprise that DODO is generating so much buzz.

As the world of cryptocurrency continues to evolve, it's essential to stay up-to-date on the latest news and developments. By doing so, you can make informed decisions about your investments and stay ahead of the curve.

In conclusion, Binance's announcement of a Dodo perpetual contract with up to 20x leverage is significant news for the cryptocurrency community. With its potential for high returns and increased flexibility, this new product is sure to generate interest among traders and investors alike.

Dodo crypto news today