A look at 7 coins worth noting for potential futures contracts on Binance

As Bitcoin once again rose above $37,000 and news of Ethereum spot ETF was revealed, the crypto market was once again filled with bullish sentiment. As the platform with the most users and the largest trading volume, Binance's news on listing coins and contracts can still bring considerable gains to any token in the short term.

A few days ago, BADGER quickly attracted the attention of the market after experiencing a 2-day increase of more than 20%. Binance then announced the launch of U-based contracts at noon on November 9, fueling the market. This operation is also the standard process for Binance to launch contracts recently. According to data from Look on Chain, there are currently 65 currencies on the Binance platform that only have spot but no contracts. BlockBeats has sorted out 7 currencies that are hot and worth paying attention to recently.

FTX Token (FTT)

• Current price: $2.8

• Increase (24 hours/7 days/30 days): 62.8%, 118.6%, 158.4%

• Market value: $689,998,384

• Trading volume (24 h): 628,120,722 USD

As the platform currency of FTX, once the world's second largest trading platform, FTT plummeted from US$20 to a low of US$0.8 during the FTX crash at the end of 2022. However, almost all bankrupt platform coins have one characteristic, that is, bankruptcy and zeroing make their fundamentals extremely bearish. Those who can sell them have sold them in panic without leaving a penny. Those who cannot sell them may have no takeover orders because the amount of funds is too large, and they will suffer heavy losses if they sell them (such as some VCs holding FTT). In addition, some investors were locked in the FTX platform and unable to withdraw their coins during the FTX crash (such as some retail investors).

This has led to almost all the news about FTT after the FTX crash being positive, and there is almost no retail selling pressure from above. How high it can rise depends entirely on the "pattern" of VC and FTX bankruptcy handlers. Since April this year, every time FTX has announced a "restart", it has driven a sharp rise in FTT, but the three rises have ultimately "returned to where they came from."

Until a few days ago, Gary Gensler, chairman of the U.S. SEC, said in an interview that if the new leadership team operates under the premise of a clear understanding of the law, a restarted FTX is possible. The news made FTT take off again, and with the tacit approval of the SEC chairman, this time it flew more fiercely than the previous times. But it is worth noting that as the price of FTT has risen by 225% in the past two days, the value of the 267 million FTT tokens held by FTX/Alameda (accounting for 76% of the total supply) has also risen to US$427 million. As retail investors, we will never know when the FTX address will be sold, nor can we know whether FTX can finally restart successfully. In the worst case, after buying FTT, it is sold at a high price by the FTX bankruptcy handler to repay the creditor's assets, and then FTX will eventually fail to restart or change the actual controlling group/be merged into other platforms, causing FTT to lose value.

Raydium (RAY)

• Current Price: $0.31

• Increase (24 hours/7 days/30 days): 12.2%, 16.8%, 96.8%

• Market value: $75,910,102

• Trading volume (24 h): 54,463,569 USD

Raydium is the leading DEX in the Solana ecosystem and one of the main protocols deployed by FTX/Alameda in the Solana ecosystem. RAY also fell to a low of US$0.14 during the FTX crash at the end of 2022. Although it also rebounded by more than 100% within a year, RAY's price rebound is not as good as either SOL or FTT.

According to DeFiLlama data, Raydium's transaction fees in the past 24 hours were $216,427, and the protocol revenue was $25,971. However, according to the token economics of RAY, just holding RAY is not profitable, and you need to stake RAY to get a meager 0.03% of the protocol transaction revenue as a reward. This also explains why RAY is relatively ordinary when SOL and FTT are so strong.

Illuvium (ILV)

• Current price: $93.67

• Increase (24 hours/7 days/30 days): 16.8%, 85.7%, 134.9%

• Market value: $563,562,431

• Trading volume (24 h): 76,094,261 USD

The 3A blockchain game masterpiece Illuvium is a decentralized RPG and collection game. Players can use crystal "fragments" to capture and control mythical beasts (Illuvial), and can also engage in PvP battle mode. In addition, Illuvium has an online market where users can trade NFTs of mythical beasts. After ILV reached a high of $1911.26 during the bull market in November 2021, the price has since fallen all the way, falling to as low as $37.7 in December 2022. As the market improves, the price of ILV has rebounded by 134.9% in the past month.

Illuvium has completed multiple rounds of financing. In March 2021, it completed a $5 million seed round of financing, led by Framework Ventureslin. In April of the same year, it raised $38 million through Balancer LBP. This year, on May 31, Illuvium completed a $10 million financing, with Framework Ventures participating in the entire round.

According to its official announcement, Illuvium is scheduled to be launched on the Epic Games Store on November 28. The game is developed using Unreal Engine 5 on the Immutable X network. Illuvium includes three interoperable AAA games: Illuvium: Zero (city building game), Illuvium: Overworld (monster world) and Illuvium: Arena (arena).

Vulcan Forged (PYR)

• Current price: $5.86

• Increase (24 hours/7 days/30 days): 3.1%, 47.7%, 108.8%

• Market value: $140,400,630

• Trading volume (24 h): 46,483,294 USD

Vulcan Forged is a community-based blockchain gaming ecosystem that operates an NFT game studio, marketplace, and dApp incubator. The project aims to support the creation of blockchain games through incubation programs and crowdfunding. Vulcan Forged is the creator of VulcanVerse, an open world massively multiplayer online role-playing game (MMORPG).

On December 13, 2021, the NFT game studio Vulcan Forged officially stated that the platform was hacked and the private keys of 148 user wallets were leaked, resulting in the theft of more than 4.5 million platform native Token PYR. Based on PYR's highest price of $32.7 in the past 24 hours, the total loss value exceeded $145 million. As of the time of posting, the price of PYR was $24.37. The platform officially stated that it is trying to establish a completely decentralized wallet system, and all stolen PYR will be compensated by the platform. In addition, all trading platforms have been contacted to blacklist the hacker's address, and the KYC record on a certain trading platform has been tracked down before the hacker.

On November 29, 2022, Coinbase launched Vulcan Forged PYR (PYR). PYR reached a high of $49.737 during the bull market in December 2021 and then fell, experiencing a large-scale attack in the middle. Subsequently, its price consolidated around $3 for a long time. In the past month, PYR effectively broke through the consolidation space, and the price rebounded by 108.8%.

Virtua Kolect (TVK)

• Current Price: 0.03531814

• Increase (24 hours/7 days/30 days): -2.9%, 55.2%, 86.8%

• Market value: $42,152,654

• Trading volume (24 h): 17,353,316 USD

Terra Virtua Kolect (TVK) is a next-generation NFT ecosystem designed to help increase adoption and interoperability between games. The protocol includes the metaverse you need to create, trade, sell, and collect NFTs worldwide. The network spans many digital environments, including PC, AR, VR, and mobile gaming platforms.

Recently, Virtua Kolect (TVK) plans to rebrand and launch a new L1 blockchain after the voting proposal is approved by the majority. The price of TVK rose to $1.2236 in March 2021, setting a record high. It then fell back to $0.08 in June of the same year, and rebounded to $0.47 during the bull market in November of the same year before falling again. The price of the coin fluctuated greatly, and then started a long-term shock between $0.02 and $0.04. In the past month, TVK has risen by 86.8%.

In January this year, the concept of Metaverse was very popular. With CZ calling for "Metaverse", TVK rose by more than 80% on January 29, reaching $0.0579. The cross-platform Metaverse game ecosystem belongs to Binance, with both Tokens and NFTs, and a small market value.

Osmosis (OSMO)

• Current price: $0.5303

• Increase (24 hours/7 days/30 days): -1.3%, 20.9%, 101.6%

• Market value: $332,072,898

• Trading volume (24 h): 12,277,730 USD

Cosmos ecosystem DEX protocol Osmosis recently launched nBTC, which supports IBC and was launched by Bitcoin sidechain development company Nomic, thus truly opening up the asset interaction bridge between Cosmos and Bitcoin. Like many Cosmos ecosystem tokens, the circulation of OSMO is mainly limited to its ecosystem, and no CEX has launched OSMO trading pairs.

Mobox (MBOX)

• Current Price: $0.2595

• Increase (24 hours/7 days/30 days): -7.2%, -0.2%, 22.3%

• Market value: $54,019,816

• Trading volume (24 h): 14,930,222 USD

Web3 game platform Mobox has been making frequent moves recently. On October 27, the platform announced a strategic investment in Web3 game development platform P12. In addition, on November 1, MOBOX announced the launch of a new buyback and burn plan. The team said it will continue to use the $7 million treasury to ensure the sustainability of asset value and fully allocate available resources through multi-platform integration, dynamic allocation, and transparent disclosure on and off the chain in the long term.

From the above, it is not difficult to find that the project party seems to be determined to use this wave of market conditions to promote the development of its platform and the value of tokens to a higher level. However, investors do not seem to be very "buying it". The token price performance is lukewarm and needs further observation.