Gate.io, famous for listing gem projects, announced today that it has opened leveraged transactions for 2 altcoins. In the following hours, prices dropped by more than 50%.
Gate.io list followed by sharp decline
In new announcements this week, Gate.io said it has launched futures for Venus (XVS) and MoveZ (MOVEZ). The exchange now allows up to 20x leveraged trades with XVS. This decision means more liquidity but higher volatility for altcoin prices. Indeed, the 50% drop in MOVEZ price once again reveals the leverage effect…
Altcoin prices fell sharply after leveraged transactions
MoveZ (MOVEZ), in particular, was down over 50% at one point today. The low-volume altcoin has been continuing its downward trend in recent days. Later in the listing, Gate.io bottomed out around $0.0011.
cryptocoin.comIn this article, we have included the latest announcements from 2 new altcoin projects that are expected to debut this week.
