Cryptocurrency exchange Phemex has added FLOKI Inu perpetual contracts to its platform, allowing users to trade with leverage of up to 20x. Perpetual contracts are a type of derivative that enables traders to make speculation on future prices of an asset without having to own it. This means traders can make profit from both increasing and decreasing price movements of the market. Just two days ago, BitMEX also declared to add two pairs of FLOKIUSDT and FLOKIUSD with up to 50x leverage.

FLOKI Inu cryptocurrency is currently listed on multiple platforms and is reported to have a market capitalization of $12.1 million USD with over $758 thousand USD of 24-hour trading volume at the time of publishing. It is currently being traded at $0.00003414 indicating a 6.32% decline in the past 24 hours. Despite the bearish trend, FLOKI Inu has been performing well in the last seven days with a 82.17% gain. Although it is still too early to make a conclusion about its direction, the added futures contracts on Phemex and BitMEX could increase its volume and drive future price changes.

What would be interesting to see is how the additional leverage of 20x from Phemex and 50x from BitMEX on FLOKI Inu will affect the price of the asset. With higher leverage, traders can make more money but at the same time they are exposed to a greater risk of loss. The extra risk comes with added volatility and consequently high liquidity. What the future holds for FLOKI Inu remains to be seen.



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