The artificial intelligence narrative has also taken hold of the crypto market this year. Accordingly, tokens belonging to artificial intelligence coin projects recorded strong increases. Today, leading cryptocurrency exchange Binance announced that it will launch futures contracts for Numeraire. Following this announcement, the token price recorded a vertical increase.
Futures move for this AI coin from Binance
Binance, the world’s largest cryptocurrency exchange, has announced that it plans to offer perpetual futures contracts for the artificial intelligence coin Numeraire (NMR). This move comes as part of Binance’s efforts to expand the range of trading options. Moreover, the crypto exchange aims to meet the diverse needs of its users.
Binance will provide up to 20x leverage on margin trading for the NMR/USDT pair. One of the most important features of these futures contracts is the leverage they offer. Investors will have the opportunity to leverage up to 20x, allowing them to increase their potential profits. The contracts will be margined with Tether (USDT), a stablecoin pegged to the value of the US dollar. This will provide investors with a reliable and safe margin option.
The developers built the artificial intelligence coin project Numeraire on the Ethereum platform. Numeraire releases a platform for developers and data scientists who want to experiment and build machine learning models with high reliability. In today’s technological environment, the importance of artificial intelligence and big data is increasing. Because, Cryptokoin.com’As you’ve been following on, AI coins have performed strongly throughout the year.
NMR jumped after Binance announcement!
The price of Numeraire (NMR) has seen a staggering 17% increase in a short period of time. This was quite remarkable compared to the market momentum. The catalyst behind this meteoric rise was Binance’s announcement. Meanwhile, it is worth noting that NMR tokens are already available for trading on Binance’s spot market. However, market watchers interpreted this announcement as a sure signal to buy. Thus, artificial intelligence led to an increase in demand for the coin.
NMR daily price chart / Source: CoinMarketCapIt should be noted that abnormal price increases have also occurred in Binance’s similar announcements in the past. However, this time, something else was different. This was the positive emotion that dominated the market. Market conditions further fueled the upward momentum for the AI coin. The optimistic backdrop surrounding the crypto market has likely fueled the enthusiasm among market participants to invest in NMR after hearing the news.
