An important altcoin statement came from the crypto money exchange Binance. The statement is the kind that will excite investors and traders. Accordingly, Binance Futures, the derivatives arm of Binance, takes a step. Web3 is preparing to introduce a brand new perpetual contract for CyberConnect (CYBER), a promising altcoin in the social networking protocol space.
Trading for Altcoin starts on August 21, 2023
It is important for investors to take notes on their calendars. Altcoin CYBER perpetual contract arrives on August 21, 2023 at 15:00 (12:00 UTC). What makes it more attractive is that traders will have the flexibility to use up to 20x leverage for their CYBER trades.
This latest move from Binance reinforces its commitment to offering a wide variety of trading options and keeping its users at the forefront of the cryptocurrency market. With CYBER’s innovative approach to the Web3 social network, this new perpetual contract has meaning. It will offer compelling opportunities for investors looking to capitalize on the next big thing in the crypto space.
Drop in price after Binance listing
Despite the solid initial performance, the CYBER price fell 80% after Binance listing. Altcoin CYBER slumped shortly after it debuted on the cryptocurrency exchange Binance. Accordingly, it experienced a sharp decline of 80%. Accordingly, its value dropped to $4.59. However, the token increased by an impressive 300% right after the listing. Binance announced on its official blog that it will list CyberConnect (CYBER) and Sei (SEI) and add several trading pairs for both tokens.
Following the listing, the prices of both tokens were expected to increase. Because this was the first major exchange listing for both tokens. However, despite the initial excitement, the price of the altcoin CYBER token has dropped. The reason behind the decline remains unclear. It’s also particularly surprising given CyberConnect’s strong performance in initial exchange offerings (IEOs). CyberConnect held its first IEO of 3,000,000 coins on Coinlist on May 18, 2023, raising $5.4 million. The project then raised $10,800 by launching an IEO of 6,000 tokens on Bitmart.
The project itself
CyberConnect V3 is a web3 social network that aims to empower users by giving them control over their digital identity, content and social interactions. There are three main features. CyberAccount, CyberGraph and CyberID.
CyberAccount aims to revolutionize the recruiting experience for multi-chain web3 activities. It also aims to make it easier for users to navigate the complexities of gas payments across different networks. When we look at Kriptokoin.com, users use altcoin CYBER to simplify these transactions. CyberGraph, on the other hand, provides a secure framework for recording user-generated content and connecting a set of blockchains.
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