OKX has announced that USDT-margined perpetual futures for Virtual Protocol’s token (VIRTUAL) and the Tron-based meme coin SUNDOG.
Both Contracts To Be Available From December 11
According to the company, trading for the VIRTUAL/USDT perpetual futures commences at 10:00 UTC while that for SUNDOG/USDT kicks off fifteen minutes later at 10:15 UTC.
The leverage options offered by the contracts range from 0.01x up to 50x while the funding fee for both contracts is in the range of +1.50% and -1.50%, calculated every 240 minutes (or four hours), and having no interest charges.
The funding fee has been capped at 0.03% by OKX in order to ensure stable initial trading till 16:00 UTC on December 11. Afterwards, the standard funding fee rate is expected to be implemented from the funding calculation to be done at 20:00 UTC. The two perpetual contracts have a tick size of 0.0001.
Virtual Protocol’s VIRTUAL token has garnered significant momentum in the market, appreciating by roughly 4% within the last 24 hours to settle at $1.68, according to data from CoinGecko. Similarly, in the past seven days, VIRTUAL has also risen by 3%.
Over the last fortnight, the token has seen its price increase by almost 100% to nearly double its valuation.
VIRTUAL’s market cap presently exceeds $1.6 billion, while its 24-hour trading volume stands at $267 million. The token’s circulating supply is 1 billion.
For SUNDOG, CoinGecko data indicates that its value as of early today is $0.1544, a 17.2% increase from yesterday. Today’s SUNDOG value is 12.2% lower than its value a week ago.
The token’s market cap is $155,181,755 while its total trading volume within the past 24 hours is $110,585,678. Like VIRTUAL, SUNDOG also has a circulating supply of 1 billion.
OKX Recently Expanded Its Operations To Belgium
Late last month, OKX expanded its operational scope to cover Belgium via the launch of its trading platform and a self-custodial wallet.
Users in Belgian can now access the company’s spot trading and the conversion of over 200 cryptos, including 60 trading pairs that involve the EURO. Notably, OKX’s Belgium activity has not been directly approved by the country’s regulatory authorities.
Erald Ghoos, the company’s General Manager in charge of Europe, disclosed that OKX’s operation in Belgium is based on a “non-rejection” status that leverages its registration in Malta. He was referring to Okcoin Europe which has an operational licence approved by Malta’s Financial Services Authority.
In order to ensure streamlined EURO transactions for its Belgian users, OKX has partnered with Bancontact, a popular payment platform in the country.
Through the partnership, users can make instant EURO deposits into their accounts without incurring any charges.
The Belgium launch is part of OKX’s present efforts to expand its services in Europe. Earlier in 2024, the company ventured into the Dutch market.
BTCRepublic had earlier reported OKX’s acquisition of a Singapore licence.
