Amidst the crisis that started yesterday evening, Binance, which still maintains its position as the largest cryptocurrency exchange in terms of scale, made an announcement through a blog post on its official website. Binance announced that it will introduce 2 new trading pairs, including 2 pairs with leverage up to 50x.
Binance Announces Trading for 2 Altcoins
In the announcement made by Binance, it was stated that 2 new altcoins will be available for trading with 50x leverage. Despite the recent difficulties and delistings, Binance’s decision to list new coins shows that its growth efforts have not diminished. The statement by Binance is as follows:
Binance Futures will launch USDⓈ-M 1000BONK and PYTH perpetual contracts with leverage up to 50x on 2023-11-22 14:00 (UTC) and 2023-11-22 14:30 (UTC), respectively.
More details about USDⓈ-M 1000BONK and PYTH perpetual contracts can be found in the table below:
Subsequently, the following sentences were included with the note “Please pay attention”:
The maximum funding rate at the time of the launch of 1000BONKUSDT and PYTHUSDT perpetual contracts is +%2.00/-2.00.
Funding fee is paid every four hours.
Additionally, investors were provided with the following information:
Binance may change the features of 1000BONKUSDT and PYTHUSDT perpetual contracts, including funding fee, tick size, maximum leverage, initial margin, and/or maintenance margin requirements, depending on market risk conditions.
Cross Collateral Mode allows users to buy and sell 1000BONKUSDT and PYTHUSDT perpetual contracts using multiple collateral assets based on the current haircut. For example, when Cross Collateral Mode is enabled, users can use BTC as collateral when trading 1000BONKUSDT and PYTHUSDT perpetual contracts.
1000BONKUSDT and PYTHUSDT perpetual contracts are subject to the Binance Terms of Use and Binance Futures Service Agreement.
In case of any discrepancy between translated versions and the original English version, the English version shall prevail.
