Binance will launch SPX6900 on USDT Perpetual Contract on Dec. 10

Binance announced that it will launch the viral meme coin SPX6900 in the form of the SPXUSDT Perpetual Contract with up to 75x leverage, alongside Raydium, Koma Inu, and Virtuals Protocol.

In a recent announcement, Binance Futures announced plans to launch four different tokens on USDT Perpetual Contracts; one of them is meme coin SPX6900 (SPX). Perpetual contract SPXUSDT will launch with up to 75x leverage starting December 10 at 12:45 UTC.

At launch, the maximum funding rate for SPXUSDT perpetual contracts will be +2.00% and -2.00%. The funding fee calculation frequency is set to occur every four hours. Meanwhile, the confirmation size of the permanent contract is set to 0.0001.

A few hours after Binance’s announcement, SPX6900 showed no signs of a major bounce. According to Crypto.news data, the token has increased by approximately 10% in the last 24 hours. Over the past seven days, SPX6900 has gained 21.6% and is up 42% in the last two weeks.

The token is currently trading at $0.71 and its 24-hour trading volume is $55 million.

Last 24-hour trading price chart for SSPX6900, December 10, 2024 | Source:: CoinGecko.

SPX6900’s market cap is $642 million, ranking it at 176th on the crypto leaderboard by market cap. Its fully diluted valuation stands at $642 million. Meme coin has a circulating supply of 930 million tokens and a maximum supply of 1 billion tokens.

SPX6900 is a meme coin born from internet culture. It was built with the main aim of challenging traditional financial instruments such as the S&P 500, a stock market index that tracks the performance of the 500 largest companies. SPX6900 represents the idea that 6900 is greater than 500, indicating that it may offer more value than the stock index.

Along with SPX6900, Binance Futures will also list the following perpetual contracts on December 10: RAYSOLUSDT 12:00 UTC, KOMAUSDT 12:15 UTC, and VIRTUALUSDT 12:30 UTC.