BLZ And LPT Trading Volume In Future Contracts Soars Over $2 Billion

Key Points:

  • BLZ and LPT token futures experienced massive trading volume spikes, setting new highs.
  • BLZ’s 42% surge leads to a short squeeze; LPT’s negative rates and 50% price rise cause market shifts.
  • BLZ powers dApp storage in Bluzelle; LPT facilitates payments and network reinforcement in Livepeer’s streaming platform.
In the span of 24 hours, the trading volume for BLZ token futures exceeded a remarkable $2.5 billion, accompanied by an unprecedented open interest surpassing $88 million.
BLZ And LPT Trading Volume In Future Contracts Soars Over $2 BillionBLZ And LPT Trading Volume In Future Contracts Soars Over $2 Billion
BLZ And LPT Trading Volume In Future Contracts Soars Over $2 Billion 4

Remarkably, these figures set new all-time highs. Both Binance and Bitget reported an annualized negative fee rate of 2,700% for BLZ, underscoring the fervor surrounding the token. Within the same 24-hour period, the value of the token surged by an impressive 42%, prompting a notable short squeeze in the market.

Source: CoinGlass

BLZ serves as the fundamental token for the Bluzelle platform, offering specialized database storage services for decentralized applications (dApps). Bluzelle distinguishes between two tokens: BLZ, an ERC-20 token available for trading on exchanges, and BNT, an internal token ineligible for exchange transactions.

Meanwhile, LPT futures experienced a striking dip in rates, with Binance, OKX, and Bybit exhibiting annualized negative rates exceeding 2,000%. Following a rapid price surge of over 50% just yesterday, LPT underwent a short squeeze, generating further market fluctuations. Impressively, LPT perpetual contracts on Binance amassed over $4 billion in trading volume, surpassing even BTC and securing the top position.

Source: CoinGlass

Livepeer, which facilitates decentralized video streaming, utilizes LPT as a means of payment for livestreams on its platform. Much like AIOZ, Livepeer serves as a vital infrastructure for this domain. Stakeholders in LPT contribute to network reinforcement, enhanced security, and overall functionality. These developments collectively underline the tokens’ roles within their respective ecosystems, prompting significant market shifts.

In this dynamic landscape, traders and investors are keeping a keen eye on the evolving trajectories of BLZ and LPT tokens.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

BTFD Coin Makes Waves Among the Best New Meme Coins to Invest in This Week Alongside Floki Inu and Sudeng

BTFD Coin's presale offers a massive returns, while Floki Inu and Sudeng stay relevant. Explore…

6 minutes ago

$0.25 Target: Qubetics’ ROI Potential, NEAR Protocol’s Scalability, and XRP’s Payment Revolution – Top Cryptos to Buy This Week

Learn why Qubetics’ wallet, Near Protocol’s scalability, and XRP’s payment solutions make them the best…

1 hour ago

Qubetics’ Decentralised VPN, Avalanche’s Speed, and Polkadot’s Interoperability: The Best Cryptos to Invest in Now for 2025 Profits

Discover how Qubetics’ dVPN, Avalanche’s speed, and Polkadot’s interoperability make them the best cryptos to…

3 hours ago

2025’s Best Coins to Buy: The Ultimate Guide to Maximise Your ROI with Qubetics, Solana, and ICP

Discover the best coins to buy in 2025. Maximise your ROI with Qubetics presale, Solana’s…

8 hours ago

Ripple (XRP) Price Prediction: XRP to Hit $4 as Rexas Finance (RXS) Buy Frenzy Hits New Highs

With its recent increases, Ripple (XRP) continues to show an amazing positive trajectory that enthralls…

12 hours ago

Discover the Best Altcoins to Invest in Now: Qubetics’ $TICS $8.6 Million in Presale While Cosmos Redefines Blockchain Interconnectivity and ZIGnaly Makes Copy Trading Simple

Explore Qubetics’ groundbreaking QubeQode IDE, Cosmos’ interconnectivity solutions, and ZIGnaly’s copy trading innovation. Learn why…

14 hours ago