Binance made updates to perpetual contract rates for HIFI and TRB yesterday. Altcoins, which initially rallied, have been in sharp decline for the last 24 hours.
Price drops sharply as Binance makes new announcement for HIFI
Binance is making a significant change to HIFIUSDT U-based perpetual contracts on September 17, 2023 at 12:00. With the new regulation, the funding rate clearing frequency of these contracts will be reduced from the currently applied eight-hour period to a four-hour period.
This change will allow investors to make funding rate payments or receive receivables on a more frequent basis. Binance officials warned users to review their trading strategies taking this change into consideration. The new regulation seems to create a more dynamic trading environment for platform users.
However, HIFI price dropped sharply despite Binance announcement
Today, Hifi Finance (HIFI) price dropped to $1.28. HIFI, which lost 38.74% in value in the last 24 hours, still increased by 124.59% in the last 7 days. The altcoin, whose daily transaction volume is 805,385,454.03 dollars, has a total of 100 million units in circulation. The Binance announcement was the latest development to move the HIFI price.
Meanwhile, HIFI’s market value was $135,814,462. These fluctuations create both risks and opportunities for investors. Binance’s upcoming funding rate swap frequency change has created further volatility in the market. Or vice versa. Investors respond positively to this change, helping prices stabilize in the future.
Other factors affecting HIFI’s future performance include the state of the overall cryptocurrency market. Additionally, macroeconomic developments and potential regulatory interventions are also very important. The important thing for investors will be to closely follow the developments in the market and shape their investment decisions. In another development, Tellor (TRB) lost 10% of its value today despite the Binance announcement.
Tellor (TRB) also falls hard
Tellor (TRB) is trading at $40.83 today. However, it lost 14.23% in value in the last 24 hours. However, from a general perspective, TRB gained 78.81% in value over the past week. This indicates significant interest among investors. Indeed, as we reported as Kriptokoin.com, Binance activated the TRB price with its newly announced announcement. However, the rally was short-lived.
In the latter case, the circulating supply of TRB is 2.5 million units, while the Daily trading volume is recorded at $128,123,584.22. This shows that Tellor Tributes currently has a market cap of $102,703,979.
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