The world’s largest crypto exchange Binance has launched USD-margined AAVEUSDC and UNIUSDC perpetual contracts, a move that can boost liquidity in the crypto market. AAVE and Uniswap (UNI) prices soared nearly 6% over the last 24 hours.
In an official announcement on June 16, Binance revealed the perpetual contracts launch for DeFi protocols Aave and Uniswap. The exchange will offer up to 75x leverage on AAVE and UNI perpetuals in USDC pairs.
Notably, users can start AAVEUSDC perpetual contract trading from 8:30 UTC today, with a tick size of 0.01. Also, the UNIUSDC perpetual contract trading starts at 8:45 UTC, with tick size 0.001.
Binance said the perpetual contracts support multi-asset mode, allowing users to trade these across multiple margin assets such as Bitcoin, with applicable haircuts.
AAVE and UNI Prices Hold Upside Momentum
AAVE price jumped 6% in the past 24 hours and 13% in a week, with the price currently trading at $286. The 24-hour low and high are $266.79 and $291.30, respectively. Furthermore, the trading volume has increased by more than 29% in the last 24 hours, indicating a rise in interest among traders.
Analyst Livercoin said AAVE showed strength and pullback when other altcoins were plummeting during the recent market crash.
Meanwhile, UNI price jumped more than 7% in the past 24 hours and extended the weekly run to over 20%. The price is currently trading at $7.68, with a 24-hour low and high of $6.98 and $7.72, respectively. Furthermore, the trading volume has rocketed by more than 90% in the last 24 hours.
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