VOXEL price surged by more than 55% in the past 24 hours, reaching its highest level since mid-June. The Voxies (VOXEL) token saw a sharp increase on Aug. 20 following a significant announcement from Binance. VOXEL is the utility token and in-game currency for the free-to-play tactical role-playing game Voxie Tactics, which operates on the Polygon blockchain.

Binance News Sparks VOXEL Price Surge

Binance Futures announced the launch of the VOXEL perpetual contract, which offers up to 50x leverage. The VOXELUSDT contract went live on Aug. 20 at 10:30 UTC. Additionally, Binance Futures listed the Base meme coin Brett, which also saw a price rally on the same day.

Investors responded positively to the news, pushing VOXEL’s price sharply higher.

The USD-Margined VOXEL Perpetual Contract has a capped funding rate of +2.00% / -2.00% and settles in the USDT stablecoin. Following Binance’s announcement, VOXEL’s price spiked from below $0.14 to highs of $0.27. Although the altcoin has since retraced some of its gains, it remains around $0.22, up more than 55% at the time of writing.

VOXEL’s price is also up more than 94% over the past week, showing a strong recovery from its May lows of $0.09.

Key Developments for VOXEL

Besides the Binance announcement, another key development for VOXEL was the addition of trading support for VOXEL/USDT by the cryptocurrency exchange MEXC on Aug. 19.

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