Ethereum News Today: Binance's MITO Launch Sparks New Era of Crypto Derivatives

Binance Alpha has announced the listing of a new perpetual contract for Mitosis (MITO), a project set to debut on the platform alongside a spot trading option. According to the official announcement, trading for MITO will begin at 10:00 PM (GMT+8) on August 28, 2025, followed by the launch of MITOUSDT perpetual contracts at 10:30 PM on the same day, with up to 50x leverage available. The listing is part of Binance’s ongoing efforts to expand its derivatives product offerings and support emerging crypto projects. Binance also introduced a Booster Program for users with Binance Alpha Points, allowing them to claim token airdrops. However, tokens from the program are subject to lock-up periods and carry inherent risks, such as market volatility and project-specific uncertainties [1].

Alongside the MITO listing, a Bitcoin programmable layer project named Hemi has gained attention for raising $15 million in a new funding round. The round was led by YZi Labs, Republic Digital, and HyperChain Capital, with additional support from over a dozen other investors, including Breyer Capital, Crypto.com, and Selini Capital. The funds will be used to enhance the development of Hemi’s network, which aims to combine Bitcoin’s security with Ethereum’s smart contract capabilities. The project’s core innovation, the Hemi Virtual Machine (hVM), allows for the embedding of a full Bitcoin node within the EVM, enabling advanced on-chain operations such as lending and asset portfolios. Hemi also reported over 100,000 verified users and 400,000 community members, alongside integration with major platforms like Sushi, LayerZero, and MetaMask [1].

The growing interest in derivatives and institutional-grade trading tools was further underscored by other developments. SharpLink, a NASDAQ-listed company, recently increased its ETH holdings by 56,533 tokens, raising its total ETH portfolio value to approximately $3.7 billion. The company has also expanded its treasury strategy, with key highlights including increased staking rewards, a high ETH concentration ratio, and remaining cash reserves for further ETH acquisitions [1]. Meanwhile, Coinbase International announced plans to launch perpetual contracts for GMT, Omni Network, and Synthetix, which will be available on its exchange platforms starting on August 28 [1].

In addition to new product launches, the derivatives market saw significant activity driven by large-scale trades. An address on Hyperliquid executed a substantial XPL long trade, generating a $16 million profit in under a minute. The trade caused widespread liquidations and volatility in the XPL token price, which surged over 200% in two minutes. The funds for the trade were traced to two large USDC and USDT transfers, with speculation linking the address to prominent crypto figures. However, no definitive evidence confirmed the identity of the trader [1].

Binance Alpha’s latest developments align with broader trends in the crypto derivatives market, which continues to expand as institutional and retail traders seek more sophisticated tools. The launch of new perpetual contracts and airdrop programs demonstrates the platform’s commitment to fostering innovation and user engagement. As the crypto market evolves, these developments highlight the increasing convergence of DeFi, institutional infrastructure, and traditional finance, with Binance playing a central role in facilitating this transition [1].

Source: [1] Important News from Last Night and This Morning (August ...) (https://www.panewslab.com/en/articles/0bcfd9d5-8cb4-49ce-885f-ca35b61d4cc0) [2] Binance Alpha New Airdrop Threshold Announced (https://www.moomoo.com/news/flash/20949706/binance-alpha-new-airdrop-threshold-announced-minimum-200-points)