VOXEL price has surged more than 55% in the past 24 hours, hitting its highest level since mid-June.
The value of 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 is based on the Polygon (MATIC) blockchain and the token provides its own rewards system.
Binance News Leads to VOXEL Price Surge
In particular, Binance Futures Advertise VOXEL perpetual contract launched. The VOXELUSDT contract, which offers up to 50x leverage, was launched on August 20 at 10:30 UTC. Binance Futures also listed the underlying meme coin Brett (BRETT), news that also sparked a surge in the meme coin’s price that day.
Binance stated that the USD margined perpetual VOXEL contract will have a capped funding rate of +2.00%/-2.00% and will be settled in USDT stablecoin.
Investors responded positively to the news, sending the price of VOXEL sharply higher. After trading below $0.14 earlier in the day, VOXEL surged following Binance’s announcement, reaching highs of $0.27. Although the altcoin has since clawed back some of its gains, it is still trading at around $0.22, up over 55% at the time of writing.
VOXEL price has also surged over 94% over the past week, with bulls recovering most of the losses from the May lows of $0.09.
VOXEL’s massive gains on August 20 coincided with another major development for the token: cryptocurrency exchange MEXC Added Trading support for VOXEL/USDT pair on August 19.
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