Viction (VIC), a blockchain project, saw its value surge by an impressive 133% within the first two hours of Binance’s announcement that it would offer futures trading for the cryptocurrency. Though the price has stabilized slightly, VIC remains up by 92%, trading at $0.39, with a market capitalization of $42.3 million. The cryptocurrency is now ranked as the 507th largest by market cap, accompanied by a staggering 9044% spike in trading volume, reaching $154 million.
Binance officially launched futures trading for VIC at 17:00 UTC, allowing traders to leverage their positions up to 75x. This high leverage offers the potential for significant profits but also increases the risk of substantial losses, highlighting the need for careful risk management. The platform’s funding rates are capped at ±2%, with settlements occurring every four hours.
Viction, which rebranded from TomoChain (TOMO) in November 2023, is designed to improve blockchain technology with a focus on zero-gas transactions, enhanced security, and greater scalability. The project’s name, derived from “Vision” and “Victory,” reflects its goal to drive innovation in the blockchain space.
The project’s Proof-of-Stake Voting (PoSV) mechanism, supported by 150 masternodes, ensures robust security and smooth operation. Viction’s mission is to provide a user-friendly, secure blockchain platform for Web3, offering feeless transactions and robust security features. As of 2024, the project boasts 4 million on-chain addresses and has successfully onboarded 150 projects.
In addition to its blockchain features, Viction offers developer tools such as Dex Maker, wallets, and app chains to facilitate the creation of new crypto projects. With Binance’s backing, VIC has garnered increased attention from investors and traders alike.
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