Key Insights:
- Binance announced the listing of Puffer and Port3 Network perpetual contracts with 50x leverage as Puffer price jumped.
- PUFFER and PORT3 prices saw double-digit gains after the announcement, with PUFFER saw a 25% gain.
The world’s largest crypto exchange Binance on Tuesday said it will list Puffer and Port3 Network perpetual contracts. As a result, PUFFER price jumped 25% and PORT3 rose over 12%, sparking speculation in the community for further price rise.
Puffer is a decentralized platform focused on enhancing Ethereum’s scalability and security through liquid restaking and rollup solutions. Port3 Network is an AI data layer network designed for AI-driven services and intelligent strategies.
Binance Launches Puffer and Port3 Perpetual Trading
In an official announcement on June 3, Binance revealed the launch of perpetual contracts for PUFFER and PORT3. The move comes as the crypto exchange plans to expand the list of trading choices and trading experience offered on Binance Futures.
Users can start trading PUFFERUSDT perpetual contract with up to 50x leverage at 08:30 UTC from June 4. Similarly, PORT3USDT perpetual contract with up to 50x leverage will become available for trading from 08:45 UTC on June 4.
Moreover, Binance will add the abovementioned perpetual contracts in Futures Copy Trading offering within 24 hours of launch.
Based on market risk conditions, Binance may adjust the specifications of the aforementioned Futures contract(s) from time to time, which include the funding fee, tick size, maximum leverage, initial margin, and/or maintenance margin requirements,” stated Binance.
It is important to note that Binance has already listed PUFFER and PORT3 on its Alpha Market. However, these are still not available for trading on the Binance Spot.
Recently, Puffer Finance unveiled a new roadmap, with plans to launch AI-driven Puffer AppChain Marketplace and MCP models for the UniFi AppChain. Also, PUFFER token was added to BNB Chain.
PUFFER Price Saw Massive 25% Jump
PUFFER price saw a massive upside move of over 25% after Binance announced perpetual offering. The price was trading at $0.2393 at the time of writing. Also, the 24-hour low and high were $0.1894 and $0.2427, respectively.
Furthermore, trading volumes increased by 4% in the last 24 hours, indicating an increase in interest among traders.
Total PUFFER futures open interest data on Coinglass showed massive volatility. PUFFER futures OI climbed over 80%, but fell more than 6% in just an hour.
As per an analyst named CW, PUFFER price can rise further to the $0.32 level if it breaks through the sell wall of $0.24. “And if it breaks the sell wall above that, a real bull market will start,” he added.
PUFFER 4Hr Chart | Source: X
PORT3 Token Price Performance
The price of PORT3 token also saw a massive uplift after Binance’s announcement, but later eased to 9%. PORT3 token price had rallied more than 50% in a week. At the time of writing, trading volume was down more than 25%, which indicates a lack of interest among traders.
The 24-hour low and high were $0.04867 and $0.07895, respectively. The sentiment continued to remain bullish, but with low buy signals.
Likewise, PORT3 trading on derivatives markets was low, as per Coinglass data. Total PORT3 Futures Open Interest declined 34% over the past 4 hours, after an 84% increase in 24 hours at the time of writing.
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