Binance Offers 20x Leverage on Worldcoin Futures, Fueling Price Rally

Binance recently announced the launch of Worldcoin (WLD) futures with 20x leverage, sparking optimism among traders.This announcement followed WLD's 27% price gain over the past week.

Binance's move could further fuel the token's bullish momentum as traders anticipate more gains.However, the question now is whether WLD can break key resistance levels and hit $4.

Binance Introduces Worldcoin Futures with 20x Leverage

Binance revealed the plans to launch Worldcoin (WLD) futures contracts with up to 20x leverage.The new WLDUSD COIN-M perpetual contract will be available for trading from October 2.

According to Binance, this move aims to provide more trading options for Worldcoin holders. Traders are optimistic about the potential price movement of WLD following the announcement.

Notably, past listings of tokens on Binance often lead to sharp price increases. For instance, Catizen, another token,surged 25.34 % after its listing onBinance.

Following the listing, CATI rose to $0.935 on September 20 from a low of $0.698. While WLD's futures contract offers new opportunities, Binance clarified that the multi-assets mode would not be supported.

The exchange also mentioned potential adjustments to the contract depending on market conditions, such as changes in fees or leverage.

WLD Price Surges 27% Amid Futures Buzz

Worldcoin's price has experienced strong gains recently, rising 23.35% in a week and 32.43% over the month.Worldcoin (WLD) traded at $2.05, with an intraday low of $2.00 and a high of $2.17. This is the first time the coin has hit this level since August.

These gains reflect increased investor interest in the token, possibly fueled by Binance's upcoming futures launch.

Despite this momentum, traders remain cautious about Worldcoin's future. Worldcoin's futures open interest (OI) slipped by 1% to $218.44 million, and derivatives volume dropped 26% to $1.47 billion.

Despite its recent gains, these shifts add uncertainty to WLD's short-term price trajectory.

Worldcoin Expands to New Countries: A Possible Catalyst to Growth

Worldcoin recently announced its expansion into three new countries: Guatemala, Malaysia, and Poland.

The project's World ID, designed to combat AI-generated content and verify human users, was rolled out in these regions.

Worldcoin's World ID protocol helps reduce the risk of Sybil attacks and misinformation.As AI technology becomes more prevalent, the ability to distinguish between bots and humans is essential, making the project a welcome development.

With the futures launch and global expansion, traders are watching WLD closely to see if it can continue its upward trajectory. Moreover, WLD is closer to breaking a strong resistance around $2.20.

A potential breach above this level will trigger a rally to $3.20, a 60% increase from its current price.

This level has been untapped since July 16. Breaking this key resistance level could boost bullish sentiment, but market volatility remains a factor to consider.

The post Binance Offers 20x Leverage on Worldcoin Futures, Fueling Price Rally appeared first on The Tech Report.