TL;DR
- Binance will introduce new perpetual contracts with high-leverage options, enhancing its futures trading platform.
- Despite these additions, the involved cryptocurrencies face declines in a generally falling market.
What’s New?
Binance Futures, the world’s biggest cryptocurrency exchange, is enhancing its trading options by introducing new contracts. From April 18, users can trade ARB/USDC and NEO/USDC perpetual contracts with up to 50 times leverage, while FIL/USDC offers up to 75 times leverage.
Binance cautions that it could change the details of the forthcoming options, such as funding fees, price increments, maximum borrowing power, and initial deposit requirements, “in response to market risk factors.”
The company will also activate the multi-assets mode on the those perpetual contracts, allowing clients to use cryptocurrencies like Bitcoin (BTC) as a margin.
In spite of extra backing for Arbitrum, NEO, and Filecoin, these assets continue to show a loss in the red sector due to a significant market slump. Arbitrum (ARB) has dropped by 8% daily, NEO has retreated by 13%, and Filecoin (FIL) has experienced a decrease of approximately 6% in value.
Binance’s Previous Amendments
Over the past few months, the company has implemented many similar adjustments and enhancements to its system. In March, it removed Monero (XMR) and three other altcoins – Aragon (ANT), Multichain (MULTI), and Vai (VAI) – from its list of tradable assets. Conversely, it introduced Filecoin (FIL), NEAR Protocol (NEAR), Stellar (XLM), EOS (EOS), Injective (INJ), and Alien Worlds (TLM) as new options for borrowing on Binance Loans.
Around the beginning of this month, the trading platform initiated operations and introduced support for automated Spot Algo Orders using bots in the USDT/MXN market.
After a short time, Binance incorporated 18 additional collateral assets into its loan platform. These assets included Dogecoin (WIF), Pepe (PEPE), Hedera (HBAR), IOTA (IOTA), and Celestia (TIA). Meanwhile, Saga (SAGA) and Tensor (TNSR) were placed in the VIP Loan section.
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2024-04-16 18:52