The cryptocurrency exchange Binance‘s futures arm, Binance Futures, has taken a new step to expand trading options and enhance user trading experiences. Binance Futures has included Voxies (VOXEL) in its listed futures contracts. After the announcement, the altcoin‘s price surged sharply.
VOXELUSDT Futures Start Today
In an announcement from Binance Futures, it was stated that the VOXELUSDT Perpetual Contract will open for trading today, August 20, 2024, at 13:30 Turkish time. The new contract will offer investors the opportunity to use leverage up to 50x.
This new contract offered by Binance Futures will be a USDT-margined perpetual contract. This means that positions can remain open without a specific expiry date, and users can close their positions at any time. The contract will be an ideal option for investors applying volatility-sensitive and high-risk trading strategies.
The leverage ratio provided to investors with the VOXELUSDT contract will be 50x. This leverage ratio means that users can open large positions with a small margin. Of course, it is important to remember that high-leverage trading increases the risk of loss. Initially, the maximum funding rate for the VOXELUSDT contract will be +/- 2 percent. The funding rate will be recalculated every four hours, as with other contracts.
Binance Futures’ Listing Announcement Skyrockets Altcoin’s Price
After Binance Futures’ announcement, VOXEL‘s price skyrocketed. Before the announcement, the altcoin was trading around $0.15, but it surged sharply to $0.243 following the announcement. This price change corresponds to an increase of over 60 percent.
