Binance Futures Offers USDC Perpetual Contracts with 30x Leverage For Trading
Key Points:
- Binance is launching a new perpetual contract for USD Coin (USDC) with up to 30x leverage on its Binance Futures platform.
- The USD-M USDC perpetual contract will be available for trading from February 24, 2023, and settled in USDC, a stablecoin pegged to the US dollar.
Binance, the world’s largest cryptocurrency exchange by trading volume, has announced the launch of a new perpetual contract for USD Coin (USDC) with up to 30x leverage on its Binance Futures platform.
The USD-M USDC perpetual contract is the latest addition to Binance‘s futures offerings, and it will be available for trading starting from February 24, 2023 at 8:00 AM (UTC). According to the announcement, the contract will be settled in USDC, a stablecoin pegged to the US dollar, and will feature a maximum leverage of 30x.
Binance’s USDC perpetual contract will allow traders to buy or sell the USDC/USD pair with the potential to profit from both bullish and bearish market movements. The contract also offers traders the ability to hold their positions for an indefinite period, as it does not have an expiry date.
Additionally, Wu Blockchain recently reported that there are 5.16 billion USDC on Binance, making it the largest holder of the stablecoin. Cryptocom, OKX, Coinbase, and Kraken are the next four largest holders, with USDC holdings of 785 million, 420 million, 250 million, and 235 million, respectively.
Binance’s move to offer USDC perpetual contracts with high leverage is expected to attract traders looking for greater returns on their investments. However, it also comes with significant risks, as leverage can magnify losses as well as gains.
To mitigate these risks, Binance has stated that it will offer a variety of risk management tools to its users, including stop-loss and take-profit orders. Besides, the exchange has also emphasized the importance of proper risk management practices and encourages traders to fully understand the risks associated with trading on margin before investing.
Overall, the launch of the USD-M USDC perpetual contract is expected to provide traders with more options for trading crypto derivatives, while also adding to the growing popularity of stablecoins like USDC in the crypto industry.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Thana
Coincu News
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Binance Futures Offers USDC Perpetual Contracts with 30x Leverage For Trading
Key Points:
- Binance is launching a new perpetual contract for USD Coin (USDC) with up to 30x leverage on its Binance Futures platform.
- The USD-M USDC perpetual contract will be available for trading from February 24, 2023, and settled in USDC, a stablecoin pegged to the US dollar.
Binance, the world’s largest cryptocurrency exchange by trading volume, has announced the launch of a new perpetual contract for USD Coin (USDC) with up to 30x leverage on its Binance Futures platform.
The USD-M USDC perpetual contract is the latest addition to Binance‘s futures offerings, and it will be available for trading starting from February 24, 2023 at 8:00 AM (UTC). According to the announcement, the contract will be settled in USDC, a stablecoin pegged to the US dollar, and will feature a maximum leverage of 30x.
Binance’s USDC perpetual contract will allow traders to buy or sell the USDC/USD pair with the potential to profit from both bullish and bearish market movements. The contract also offers traders the ability to hold their positions for an indefinite period, as it does not have an expiry date.
Additionally, Wu Blockchain recently reported that there are 5.16 billion USDC on Binance, making it the largest holder of the stablecoin. Cryptocom, OKX, Coinbase, and Kraken are the next four largest holders, with USDC holdings of 785 million, 420 million, 250 million, and 235 million, respectively.
Binance’s move to offer USDC perpetual contracts with high leverage is expected to attract traders looking for greater returns on their investments. However, it also comes with significant risks, as leverage can magnify losses as well as gains.
To mitigate these risks, Binance has stated that it will offer a variety of risk management tools to its users, including stop-loss and take-profit orders. Besides, the exchange has also emphasized the importance of proper risk management practices and encourages traders to fully understand the risks associated with trading on margin before investing.
Overall, the launch of the USD-M USDC perpetual contract is expected to provide traders with more options for trading crypto derivatives, while also adding to the growing popularity of stablecoins like USDC in the crypto industry.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Thana
Coincu News
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