Binance, a leading cryptocurrency exchange, is preparing to roll out several major updates, from the launch of new perpetual contracts to the addition of loanable assets and network upgrades. Here are the details…
ETHW perpetual futures contract enters the market
Binance Futures is preparing to launch the USDⓈ-M ETHW perpetual futures contract on November 28, 2023 at 15:30 ET. Traders will be able to benefit from up to 50x leverage on this contract, offering ample opportunities for strategic trading. The details of the contract are as follows:
- Underlying Asset: ETHW
- Settlement Asset: USDT
- Tick Size: 0.001
- Cap Funding Rate: +2.00% / -2.00%
- Funding Fee Settlement Frequency: Every Four Hours
- Maximum Leverage: 50x
- Trading Hours: 7/24
- Multi-Entity Mode: Supported
Qualifying USDⓈ margin futures liquidity providers are eligible for a 0.005% maker fee discount for trades on the ETHWUSDT Perpetual Contract for approximately 14 to 15 days. It is important to note that Binance may adjust contract features depending on market risk conditions. Following the development, the price of ETHW experienced a 20 percent increase. The cryptocurrency experienced a rapid jump from $2.5 to $3.57. However, this rise following the Binance announcement did not last long. Because many investors made sales. At the time of writing, it has a price tag of $2.99 with a 1 percent markup.
Exciting Binance announcements for BLUR and VIC
Binance expanded its loanable holdings by adding BLUR and VIC to both crossover and isolated margin. Additionally, new trading pairs have been introduced on cross margin:
New cross margin pairs:
- BLUR/USDT
- KMD/USDT
- LSK/USDT
- RARE/USDT
- VIC/USDT
- VOXEL/USDT
New isolated margin pairs:
- BLUR/USDT
- VIC/USDT
Support Polygon
Finally, Binance shared an announcement for Polygon, which is behind the popular altcoin MATIC. The exchange is preparing to support the upcoming Polygon (MATIC) network upgrade and hard fork. The upgrade is scheduled to happen on November 29 at a Polygon block height of 50,523,000. During this period, deposits and withdrawals of tokens on the Polygon network will be temporarily suspended starting at 14:30 on November 29, 2023. More importantly, token trading on the Polygon network will not be affected. Binance will manage all technical requirements and once the upgraded network is deemed stable, deposits and withdrawals will proceed without further announcement.
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