Crypto exchange Binance’s futures arm, Binance Futures, has announced the launch of EthereumPoW (ETHW) futures trading. This announcement caused a sharp increase in the price of the alternative cryptocurrency ETHW.
As a pioneer in the industry, Binance Futures will introduce ETHW futures trading with leverage up to 50x. According to the announcement from the crypto exchange, futures trading for ETHW will start today at 15:30 TRT.
For ETHW futures, the maximum funding rate will be +/- 2%, and the funding fee will be recalculated every four hours.
Following Binance’s announcement about the futures, the price of ETHW rose sharply. Before the announcement, the altcoin was trading at $3.13, but within minutes after the announcement, it increased by more than 30% to reach $3.50.
As of the writing of this article, ETHW is trading at $3.50, showing an increase of 33.51% in the last 24 hours. The current price of the altcoin is 97.96% below its all-time high of $141.36 recorded on August 8, 2022.