DODO price spikes 33% after Binance makes major announcement

• DODO value jumped 33% after Binance introduced the DODO perpetual contract.
• Customers will entry the product with as much as 20x beginning August 8 at 08:00 (UTC).

DODO, the governance token of the decentralized change (DEX) platform of the identical identify, spiked by greater than 33% on Monday morning. Inside hours of an announcement from main crypto change Binance, the worth of DODO rose to $0.13, rapidly leaping to a two-month excessive.

The final time DODO traded at that stage was in early June this 12 months. Earlier than right now’s upside, the token had traded in a spread between $0.09 and $0.10.

Commerce DODO with as much as 20x leverage

Binance earlier right now announced a DODO perpetual contract with as much as 20x leverage, notifying prospects that the product will go stay on August 8, 2023 at 08:00 (UTC). The DODO perpetual contract will commerce below the ticker image DODOXUSDT.

In line with Binance, the product helps multi-assets mode, which suggests prospects can commerce DODOXUSDT throughout a number of margin property. It means when one prompts the multi-assets mode, they’ll use Bitcoin (BTC) as margin.

DODO token value rose rapidly after the Binance announcement, spiking greater than 33% inside an hour to prime its two-month peak.

The DODO tokens, which supply way more than governance performance to holders, is greater than 39% up on the seven-day log. Nevertheless, it stays greater than 98% down on its all-time excessive of $8.38 reached in Might 2021.

Among the utility DODO holders take pleasure in embody crowdpooling, receiving IDO allocations and buying and selling price reductions.