The VOXEL price has surged more than 55% in the last 24 hours, reaching its highest level since mid-June.
The Voxies (VOXEL) token surged on August 20 after the world’s largest cryptocurrency exchange, Binance, made a major announcement about Vovies. The Voxies token is the utility token and in-game currency for the free-to-play tactical role-playing game Voxie Tactics.
Voxie runs on the Polygon (MATIC) blockchain and its tokens provide a rewards system.
VOXEL Price Surges on Binance News
In particular, Binance Futures announced the launch of VOXEL perpetual contracts. VOXELUSDT contracts, which offer up to 50x leverage, were launched on August 20 at 10:30 UTC. Binance Futures also listed the base meme coin Brett (BRETT), which triggered a price rally for the meme coin that day.
Binance has announced that the funding rate for USD-margined VOXEL perpetual contracts will be capped at +2.00% / -2.00% and settled in USDT stablecoin.
Investors reacted positively to the news, sending the price of VOXEL soaring. After trading below $0.14 on the day, VOXEL surged following Binance’s announcement, hitting a high of $0.27. The altcoin has since retraced some of its gains, but is still trading near $0.22, up more than 55% at the time of writing.
The price of VOXEL has also risen by more than 94% over the past week, with the bulls having recovered most of the losses from their May low of $0.09.
The significant rise of VOXEL on August 20th coincides with another major event for the token: Cryptocurrency exchange MEXC added trading support for VOXEL/USDT on August 19th.