VINE, the Solana-based meme coin by Vine co-founder Rus Yusupov, is launching on Binance Futures as a USDT perpetual contract.
Binance Futures recently announced that it will be incorporating the Vine coin and Pippin into USDT-based perpetual contracts, starting on January 24, 2025, at 10:00 UTC for VINE and 10:15 UTC for PIPPIN.
According to the notice, Binance Futures will offer a maximum leverage of up to 25x for these USDT-margined futures. At launch, the maximum funding rate for perpetual contracts involving VINEUSDT and PIPPINUSDT will be +2.00% and -2.00%, respectively.
The funding fee calculation will occur at regular four-hour intervals. Additionally, Binance will introduce multi-asset trading functionality for both perpetual tokens.
Unlike most meme currencies, which tend to increase in value following Binance’s announcements of perpetual contracts, the value of VINE and PIPPIN has declined.
Since its inception just two days ago, VINE has dropped by 11.5% in the past 24 hours and by 18.4% in the past hour. Following Binance Futures’ announcement, VINE’s price briefly surged to $0.26 before falling to $0.22. As of now, it is trading at $0.21.
The market capitalization of VINE, a meme coin inspired by the now-defunct social networking platform, has reached $217 million. However, its 24-hour trading volume has exceeded $1.6 billion in a short period.
PIPPIN performed slightly better than VINE, with an almost 9% price increase in the last hour following the Binance Futures announcement. Despite this, the token’s value has declined by 7.6% over the past 24 hours.
Since its launch in November 2024, PIPPIN has amassed a market capitalization of $144 million and a 24-hour trading volume of $88 million.
Rus Yusupov, one of the co-founders of VINE, introduced the VINE meme coin on January 22, 2025, as a way to “commemorate the beauty of togetherness and creation” experienced by content creators on the short-form video app that thrived in the early 2010s.
We had an impact on culture. Millions of videos were uploaded to the platform. I’m launching this coin to celebrate the beauty of togetherness and creation,” Yusupov stated on the official Vine coin website.
According to Yusupov, the team will not sell any tokens. Instead, he plans to donate all proceeds from the VINE meme coin to X, which he believes “has become a beacon for free speech and self-expression.
Twitter, the company that originally owned VINE, shut it down in 2017 due to difficulties competing with emerging social media platforms. Since then, Elon Musk has acquired Twitter and rebranded it as X.
Following the suspension of TikTok in the United States, an X user requested Musk to reinstate Vine on January 19. Musk responded by stating that his team was “looking into it.” Many believe that Musk’s comment served as the catalyst for Yusupov to launch the VINE meme coin.
