Lisk price skyrockets on leveraged LSK trading on Binance Futures

Lisk (LSK) token is currently on steroids after Binance Futures, the futures trading arm of the leading cryptocurrency exchange Binance, announced the launch of futures contracts for LSK with leverage of up to 50x.

The strategic initiative by Binance Futures aims to provide traders with additional opportunities to engage with LSK and potentially amplify their returns through leveraged trading. The introduction of leveraged trading for LSK on Binance Futures underscores the exchange’s commitment to expanding its product offerings and catering to the evolving needs of its user base.

The LSKUSDT perpetual futures contract will debut with a maximum funding rate of +/-2%, adhering to the standard rate. This ensures a fair and transparent trading environment for users, with funding fee updates occurring every four hours in accordance with industry norms.

Lisk price surge

Following Binance’s announcement, the price of Lisk experienced a notable surge, rising from approximately $1.25 to $1.42 within minutes. Although there was a slight retracement, LSK is currently trading at $1.38, reflecting sustained interest and momentum in the market seeing that on January 24 it was trading below $1.0.

LSK price chart

Lisk’s strategic positioning

Recent interest in Lisk can be attributed to its strategic positioning within the blockchain ecosystem and recent developments aimed at expanding its utility and interoperability. Lisk, a blockchain application platform, is actively pursuing the goal of onboarding 100 million users to cryptocurrency and Web3 technologies.

Launched in 2019, the Lisk SDK empowers developers to construct application-specific blockchains using JavaScript, the world’s most widely used programming language.

Additionally, Lisk has garnered attention for integrating into the Ethereum ecosystem through projects like Gelato, which facilitate Lisk’s transition to an Ethereum Layer-2 solution. This move positions Lisk alongside other leading projects on Optimism’s superchain vision, further enhancing its interoperability and scalability.

With the LSK token now trading on Binance Futures, the blockchain’s community has a wider range of opportunities as they continue enjoying the expanding ecosystem.

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