Bitget has introduced perpetual contracts for Momentum (MMT), the token associated with the Sui-based DeFi platform Momentum, which was recently featured on Binance's HODLer Airdrops portal, as stated in the
Bitget listing announcement
. This development comes after Binance revealed MMT as the 56th project in its airdrop program, granting rewards to participants who staked
BNB
in select products from October 17 to 19, according to the
Binance announcement
. Bitget's decision to enable spot trading for MMT on November 4 reflects increasing institutional attention toward the project, which aspires to create a "global financial OS" for tokenized assets.
Momentum, which is supported by leading crypto organizations such as
Coinbase
,
Circle
, and Jump Crypto, has laid out a three-stage roadmap for ecosystem growth, as highlighted in project reports. The initial phase centers on Sui-native assets, featuring offerings like Momentum DEX, xSUI (liquid staking), and MSafe. As of November 3, the protocol's TVL stood at $265 million, with a 30-day trading volume surpassing $12 billion. The second phase aims for cross-chain integration through
Wormhole
, while the third stage focuses on tokenizing real-world assets (RWAs) such as property and commodities.
The MMT token, which is central to Momentum's governance framework, has a total supply of 1 billion, with 204 million available in circulation at the time of its November 4 debut. Its functions include enabling veMMT governance rights through bonding, rewarding the community, and unlocking access to exclusive features. Binance set aside 7.5 million MMT tokens for airdrop and promotional activities, with 5 million designated for campaigns following the listing.
Bitget's launch of MMT perpetual contracts coincides with the project's swift uptake. The platform offers trading pairs such as MMT/USDT and MMT/USDC, among others, while Momentum DEX supports bridging via
Sui
Bridge and Wormhole, serving users across multiple chains. Observers point out that MMT's TVL and user engagement—over 1.68 million unique swaps and 1.42 million liquidity providers—underscore its momentum in the DeFi sector.
Elsewhere, the broader cryptocurrency market continues to experience turbulence, with
Bitcoin
falling below $104,000 after a 3.6% decrease. A stronger U.S. dollar and ETF outflows have weighed on digital assets, yet Momentum's emphasis on RWA integration and institutional alliances could set it apart from the rest.
