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The cryptocurrency exchange Binance continues to expand the list of assets offered by its futures arm, Binance Futures. The exchange recently announced that it will launch futures for Aergo (AERGO).
Details of AERGO Futures
The AERGO futures, which will open for trading today at 15:15 TSI, will be accessible with up to 75x leverage. Investors can significantly increase their position size thanks to the offered leverage of up to 75x. Of course, this high gain also means high risk.
AERGOUSDT perpetual futures contracts will trade around the clock, providing users with 24/7 market access. The contract will also support a multi-asset mode, allowing users to fund their futures accounts with various cryptocurrencies while maintaining the cross-margin option. The contract’s tick size will be 0.0001, offering investors precise pricing and better control over entry and exit points.
One of the most important features of the contract is the limited funding rate that varies between +/- 2.00%. This rate will be applied every four hours, and the funding fee will be automatically paid at this frequency. The limited funding rate will help prevent excessive price movements, ensuring that the perpetual futures contract price remains aligned with Aergo’s spot price.
The new USDT-settled perpetual futures contract is part of Binance’s initiative to diversify trading options and enhance the user experience on its futures platform. The launch of the AERGOUSDT perpetual futures contract is expected to attract more investors to Aergo, a Blockchain network focused on enterprise use cases.
AERGO’s Price Surges
Following Binance’s announcement, AERGO’s price surged sharply. The altcoin rose by over 30% in a short period, reaching as high as $0.1109. AERGO is trading at $0.1077 at the time of writing, after a slight pullback.
Meanwhile, along with the price, the altcoin’s trading volume soared by over 1,500%, reaching $24.4 million.
