VINE, the Solana-based meme coin launched by VINE co-founder Rus Yusupov, is coming to Binance Futures as a USDT-based perpetual contract.
In a recent notice, Binance Futures announced that it will be adding the Vine coin and pippin on USDT (USDT)-based perpetual contracts starting Jan. 24, 2025 at 10:00 UTC for VINE and 10:15 UTC for pippin. Binance Futures is offering maximum leverage of up to 25x for both USDT-margined contracts.
The maximum funding rate for VINEUSDT and PIPPINUSDT perpetual contracts at launch will be +2.00% and -2.00%. The funding fee calculation frequency will occur every four hours.
Moreover, Binance will provide multi-asset trading support for both perpetual tokens.
Unlike most meme coins that experience a surge after Binance perpetual contract announcements, VINE and PIPPIN seem to have gone down in value. Having only launched two days ago, the VINE coin has gone down by 11.5% in the past 24 hours and 18.4% in the past hour. Minutes after the Binance Futures announcement was released, its price went up to $0.26 before dropping to $0.22. VINE is currently trading hands at $0.21.
The meme coin inspired by the now-discontinued social media app has reached a market cap of $217 million. However, its 24-hour trading volume managed to surpass $1.6 billion in just a short time.
PIPPIN fared a little better than VINE, increasing by nearly 9% in the past hour after the Binance Futures announcement. Though, the token’s value has been slipping by 7.6% in the past 24 hours. Launched in November 2024, pippin’s market cap stands at $144 million with a 24-hour trading volume of $88 million.
VINE coin triggered by rumored VINE revival
The VINE meme coin was launched on Jan. 22, 2025 by VINE co-founder Rus Yusupov as a way to “commemorate the beauty of togetherness and creation” that content creators experienced through the short-form video app that reigned supreme in the early 2010s.
“We impacted culture. Millions of videos were posted. I am launching this coin to commemorate the beauty of togetherness and creation,” wrote Yusupov on the Vine coin’s website.
He claimed that the team will not sell a single token. Instead, all profits reaped from the VINE meme coin will be donated to X, which he views “has become a beacon for free speech and self expression.”
VINE was shut down in 2017 by its parent company Twitter as it struggled to compete with other emerging social media platforms at the time. Since then, Elon Musk has taken over as Twitter’s owner and rebranded it to X.
On Jan. 19, one X user asked Musk to bring back Vine following the ban of TikTok in the United States. To which Musk responded his team was “looking into it.” Many believe Musk’s response is what prompted Yusupov to launch the VINE meme coin.
