Melania Trump’s crypto coin soared to as high as 76% after Binance announced it will be providing trading support for USDT-base perpetual contracts for MELANIA.
MELANIA (MELANIA) is being launched on Binance through USDT (USDT)-based perpetual contracts with leverage of up to 25x. The meme coin contracts will be available on the major crypto exchange’s platform starting from Jan. 20, 2025 at 09:30 UTC. This launch comes just two days following the debut of Binance’s TRUMPUSDT perpetual contracts on Jan. 18.
In a recent announcement published on Jan. 20, Binance said it would settle the contract in USDT with a tick size of 0.001. The maximum financing rate established for MELANIAUSDT perpetual contracts will be +2.00% and -2.00%. The funding fee calculation frequency is set to occur every four hours.
Shortly after Binance Futures announced it will be launching USDT-based contracts for MELANIA on its platform, the meme coin surged up to 76%, bringing the token’s value up to $13.06 in a matter of minutes. However, it has since slowed down, dropping to $12.59.
MELANIA coin on the rise
Just minutes prior to Binance’s announcement, other exchanges like Bitget and ByBit have also released perpetual contracts for both the MELANIA meme coin and TRUMP (TRUMP).
Since its launch, the meme coin inspired by the incoming first lady has accumulated a trading volume of more than $40 billion and a fully diluted valuation of nearly $60 billion. At the time of writing, the Melania meme coin market cap stands at $1.8 billion, having gone up by $300 million since Binance Futures announced the release of its perpetual contracts.
Meanwhile, TRUMP’s market cap has remained stagnant at $11.7 billion with minimal changes, according to data from crypto.news. The Donald Trump official meme coin has already lost as much as $7.5 billion due to crashing after MELANIA was launched.
According to data from Arkham, one trader was able to turn $680,000 worth of Solana into $30.4 million after buying 5.203 million MELANIA the second minute after MELANIA’s debut, purchasing the tokens at a price of $0.13. He still holds around 2.5 million MELANIA tokens, that are now worth around $30 million.
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