Binance launches perpetual futures for PONS and Hajimi

Binance Futures has expanded its derivatives offerings with the launch of two new USDT-settled perpetual contracts for PONS and Hajimi. These contracts allow traders to hold leveraged positions without owning the underlying tokens, featuring continuous trading and funding settlements every four hours.

To manage risk profiles, Binance has implemented different leverage limits for the two assets. PONS is offered with up to 20x leverage, while the more volatile Hajimi is limited to 3x leverage. Following the launch, PONS saw significant activity, with daily trading volumes reaching approximately $20.39 million and its market capitalization approaching $1 billion.

Hajimi, a meme coin operating on the BNB Chain, experienced high volatility and significant interest from Asian communities. Its daily trading volume reached approximately $26.66 million. On-chain data indicated that much of the initial liquidity for Hajimi was driven by algorithmic trading bots immediately following the announcement.