Binance Futures to Launch SLERFUSDT and SCRTUSDT Contracts with Up to 75x Leverage
Tony Kim Nov 21, 2024 09:29
Binance Futures announces the introduction of SLERFUSDT and SCRTUSDT perpetual contracts, offering up to 75x leverage to enhance trading options for users.
Binance Futures has announced the launch of two new perpetual contracts, SLERFUSDT and SCRTUSDT, set to go live on November 21, 2024, at 11:30 UTC. These contracts will offer traders the opportunity to leverage their positions by up to 75 times, according to Binance.
Details of the New Contracts
The SLERFUSDT and SCRTUSDT contracts are designed to expand the trading options available on Binance Futures, enhancing the user experience by introducing more diverse trading pairs. SLERF, the underlying asset for one of the contracts, is listed with a specific contract address for verification. Likewise, SCRT, representing Secret, is also verified through its contract address.
The contracts come with a maximum funding rate of +2.00% / -2.00%, and the funding fee settlement will occur every four hours. Binance has noted that the specifications of these contracts, including funding fees, tick size, and leverage, may be adjusted based on market risk conditions.
Trading Features and Considerations
Binance offers a Multi-Assets Mode, allowing traders to use different margin assets, such as Bitcoin (BTC), when trading these contracts. This feature provides flexibility and can be particularly beneficial for those looking to diversify their margin assets.
Traders should be aware that these contracts are subject to Binance's Terms of Use and the Binance Futures Service Agreement. The platform also emphasizes the importance of understanding the risks involved in futures trading, which can be highly volatile and risky.
Future Implications
This move by Binance is part of its broader strategy to enhance the trading experience on its platform by offering more diverse and leveraged trading options. Such developments are likely to attract both seasoned traders and newcomers eager to explore different trading strategies.
In the context of the cryptocurrency market's growing complexity and the increasing demand for varied trading instruments, Binance's introduction of these new contracts is a significant step forward. It highlights the exchange's commitment to meeting the evolving needs of its user base while navigating the risks associated with high-leverage products.
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