The world’s largest crypto exchange platform by volume launches futures trading for one Ethereum (ETH)-based altcoin that has risen more than 50% in a week.
In a new announcementCrypto exchange Binance says it will launch futures contracts with up to 50x leverage for Powerledger (POWR), a decentralized energy market built on top of ETH that democratizes energy tokens.
According to the Powerledger official websitethe crypto asset is intended to support the decentralization of the energy network, aid the transition to renewable energy and help consumers track their energy consumption.
“We strive to lead the global democratization of the energy market in a way where people can access the energy they need, participate directly in energy markets, and improve their lives and the lives of others…
Our mission is to empower both ordinary citizens and companies so that their generation, storage and purchasing power of renewable energy is used in an optimal way. Our mission includes bringing continuity to transmission and distribution that is less sensitive to conventional grid disruptions.”
According to Binance, futures contracts for Powerledger will be offered as early as tomorrow.
POWR is trading at $0.247 at the time of writing, down 22.5% in the last 24 hours, but up 59% since October 19 when it traded at $0.156.
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Featured image: Shutterstock/Space creator/Vladimir Sazonov