The price of the Voxies (VOXEL) token surged by more than 55% in the past 24 hours, reaching its highest level since mid-June. This dramatic increase was driven by a major announcement from Binance, the world’s largest cryptocurrency exchange.
On August 20, Binance Futures introduced the VOXEL perpetual contract, which offers up to 50x leverage. The new VOXELUSDT contract went live at 10:30 UTC, sparking a significant rise in VOXEL’s price. Binance also listed the Base meme coin Brett, which contributed to the day’s overall price rallies.
Binance disclosed that the USD-Margined VOXEL Perpetual Contract would feature a capped funding rate of +2.00% / -2.00% and would be settled in the USDT stablecoin. The announcement drove investor enthusiasm, propelling VOXEL’s price from below $0.14 earlier in the day to a peak of $0.27. Although it has since moderated, VOXEL remains at approximately $0.22, reflecting a gain of over 55% at the time of writing.
In addition to the Binance news, VOXEL’s recent gains were bolstered by another significant development: on August 19, the cryptocurrency exchange MEXC added trading support for the VOXEL/USDT pair. Over the past week, VOXEL’s price has surged by more than 94%, recovering from its lows of $0.09 in May.
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