Mubarak Coin: Changpeng Zhao Places Long Position, Price Rises Tens of Percent

Bittime - Changpeng Zhao (CZ), founder of Binance, placed a long position on Mubarak Coin on the APX Finance platform. What impact will it have on the market? Check out the review in this article!

This move immediately attracted the attention of the crypto community and caused the price of Mubarak Coin to skyrocket by more than 22%. Is this just a test or is there a grand strategy behind it? Keep following this article to find out.

CZ Trials Perpetual Contract in On-Chain Trading

CZ confirmed that he did make transactions on APX Finance, but he stated that this step was purely for testing purposes. In his upload on social media, he explained that he conducted the first trial of an on-chain perpetual contract. 

"I just want to experience this and see if there is still a MEV (maximum extractable value) problem," wrote CZ. 

Interestingly, CZ also revealed that even though he is the founder of Binance, he has never traded contracts on Binance (CEX), even though he has watched many product demos.

Read also: Complete Guide to Binance Red Packet Daily Code: How to Get Instant Crypto!

Domino Effect in the Market: Mubarak Coin Soars Sharply

Source: CryptoNewsZ

Reports indicate that CZ used 0.04 BNB to open a long position with 24.7x leverage on Mubarak Coin via APX Finance. Although the position has now been closed, its impact on the price of Mubarak Coin was significant. 

The price of this token jumped 22.6%, from $0.146 (around Rp. 2,409) to $0.1492 (around Rp. 2,461), while its market capitalization increased by $147.49 million (around Rp. 2.43 trillion), up 10% in the last 24 hours.

Meanwhile, APX Finance, which is the trading platform for this transaction, also experienced a price spike. The APX token jumped 26%, from $0.64 (around IDR 10,560) to $0.81 (around IDR 13,365). 

Mubarak Coin's 24-hour trading volume also increased drastically, reaching $228.47 million (around Rp. 3.77 trillion), up 93% compared to the previous day.

Read also: Top 10 Meme Coin BNB that you must pay attention to in 2025!

Market Sentiment and Prospects for Mubarak Coin

Many market analysts believe that this price spike is more speculative due to the involvement of big figures like CZ. However, some also argue that CZ's trials could signal wider adoption of on-chain trading platforms like APX Finance.

On the other hand, Binance Coin (BNB) experienced a slight increase of around 1% in the last 24 hours. The crypto coin was trading at $628 (around IDR 10.4 million). In addition, BNB trading volume continued to grow 32%, reaching $1.57 billion (around IDR 26 trillion).

FAQ

1. What is Mubarak Coin?

Mubarak Coin is a crypto asset that is traded on various platforms, including APX Finance. This coin gained attention after Changpeng Zhao conducted trial trading on the platform.

2. Why is the price of Mubarak Coin soaring?

The Mubarak Coin price spike occurred after CZ opened a long position with high leverage on APX Finance. The participation of well-known figures such as CZ increases market interest and encourages price speculation.

3. Did CZ really invest in Mubarak Coin?

CZ emphasized that this transaction was only part of a technology trial and not a long-term investment strategy.

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Reference 

CryptoNewsZ, CZ Responds to “Using BNB to Go Long on Mubarak” on APX Finance, diakses pada 24 Maret 2025.

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