Binance Unveils USTC Perpetual Contract to Take Advantage of Terra Tokens Surge
In Brief
In a recent announcement, Binance has rolled out a USTC perpetual contract, allowing traders to leverage positions up to 50 times.
Binance The exchange has made a notable advancement by launching a USTC perpetual contract that provides traders with leverage possibilities of up to 50 times. This move corresponds with the recent uptick in prices for TerraClassicUSD (USTC) and Terra Classic (LUNC), which represents a significant milestone in the world of cryptocurrency trading.
Binance is set to launch its USD-M USTC Perpetual Contract, granting traders access to leverage up to 50 times. This new feature will be added to its futures trading lineup starting November 27 at 12:30 UTC, highlighting Binance’s commitment to expanding trading alternatives.
This USTC perpetual contract features specialized trading conditions, such as a funding fee settlement that occurs every four hours. USDT as the settlement asset.
The maximum funding rate established by Binance for this new contract stands at +2.00% / -2.00%. Furthermore, it includes a Multi-Asset Mode, which enables trading across various margin assets, promoting greater flexibility and a diversified approach for traders.
As an added incentive to promote liquidity in this fresh offering, Binance is providing a 0.005% rebate on maker fees for eligible liquidity providers engaging in USDⓢ-margined futures. This promotion is expected to last for approximately two weeks and aims to encourage greater participation in the USTC perpetual market.
USTC’s Market Dynamics
The launch has generated considerable excitement among crypto enthusiasts. It has also sparked discussions about whether investors had prior insight into the market's recent rally. This situation underscores Binance’s ability to swiftly respond to market dynamics, reinforcing its dedication to expanding trading prospects for users. Terra The debut of the USTC perpetual contract represents a strategic maneuver by Binance, responding aptly to the ever-evolving cryptocurrency landscape.
This initiative reflects Binance’s ongoing commitment to providing a variety of trading choices. As the platform adapts to market changes, it strives to broaden its services further, ensuring its position as a pivotal player in the crypto trading ecosystem.
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Disclaimer
In line with the Trust Project guidelines Nik is a seasoned analyst and writer at Metaverse Post, skilled in providing forward-thinking perspectives on technology, focusing largely on AI/ML, XR, VR, on-chain data, and blockchain innovations. His writing captivates a wide audience, helping them stay ahead in the rapidly advancing tech arena. With a Master’s degree in Economics and Management, Nik possesses a deep understanding of the business landscape and its interactions with cutting-edge technologies.
