Crypto currency world sees hot developments today for ARB, NEO, and FIL investors. Binance made an announcement concerning these three altcoins. The announcement pertains to those engaged in leveraged futures trading. If you are a spot trader, this announcement does not concern you. Let’s look at the details of the announcement together.
Binance Allows Up to 75x Leverage in Trading
The announcement from crypto exchange Binance relates to three altcoins. Accordingly, Binance announced it will launch USDC collateralized perpetual contracts for ARB, NEO, and FIL with up to 75x leverage. Binance has also provided details about the announcement.
With this step, Binance is expanding the trading options offered in futures. At the same time, the trading experience for users is also being enhanced.
When Will the Perpetual Contracts Be Launched?
Looking at the announcement from crypto exchange Binance, we see that it also includes the times for the USDC collateralized perpetual contracts. Accordingly, on April 18, 2024, at 10:00 Turkey time, the ARBUSDC perpetual contract with up to 50x leverage will be launched.
On April 18, 2024, at 10:15 Turkey time, the NEOUSDC perpetual contract with up to 50x leverage will be launched, and at 10:30, the FILUSDC perpetual contract will start.
Other Important Considerations
Binance also reminded in its statement that starting from April 3, 2024, at 15:30 Turkey time, users will benefit from zero maker fees and a 0.017% taker fee for all transactions in USDC collateralized futures contracts.
Binance emphasized that it can change the features of the aforementioned futures contracts from time to time, depending on market risk conditions, including funding fees, tick size, maximum leverage, initial margin, and/or maintenance margin requirements.
Multi-Asset Mode allows users to buy and sell the aforementioned futures contracts over multiple collateral assets, subject to applicable collateral deductions. For example, when Multi-Asset Mode is enabled, users can use BTC as collateral while trading in the mentioned perpetual contracts.
