The world’s largest cryptocurrency exchange by volume is launching futures trading for an Ethereum-based altcoin (ETH) that is up more than 50% in a week.
In a new announcement, cryptocurrency exchange Binance says it will launch futures contracts with up to 50x leverage for Powerledger (POWR), a decentralized energy marketplace built on ETH that democratizes energy tokens.
According to the official Powerledger website, the cryptocurrency aims to assist in the decentralization of the energy grid, assist with the transition to renewable energy, and help consumers track their energy usage.
“Our goal is to lead the global democratization of the energy market so that people have access to the energy they need, can participate directly in energy markets and improve their lives and the lives of others…
Our mission is to empower ordinary citizens and businesses, so that their renewable energy generation, storage and purchasing power are optimally used. “Our mission includes providing continuity in transmission and distribution that is less prone to conventional grid failures.”
According to Binance, Powerledger futures contracts will begin offering tomorrow.
POWR is trading at $0.247 at the time of writing, down 22.5% over the past 24 hours, but up 59% since October 19, when it was trading at $0.156.