Tony Kim
21 November 2024 at 09:29
Binance Futures announces the introduction of SLERFUSDT and SCRTUSDT perpetual contracts, offering up to 75x leverage to enhance users' trading options.
Binance Futures has announced the launch of two new perpetual contracts, SLERFUSDT and SCRTUSDT, scheduled to go live on November 21, 2024, at 11:30 UTC. These contracts will provide traders the opportunity to leverage their positions up to 75 times, according to Binance.
Details of new contracts
The SLERFUSDT and SCRTUSDT contracts are designed to expand the trading options available on Binance Futures, and enhance the user experience by offering more diverse trading pairs. The SLERF, the underlying asset of a contract, is listed with a specific contract title for verification. Likewise, SCRT, which stands for Secret, is also verified by its contract address.
Contracts come with a maximum financing rate of +2.00% / -2.00%, and financing fees will be settled every four hours. Binance noted that the specifications of these contracts, including financing fees, tick size and leverage, may be adjusted based on market risk conditions.
Trading features and considerations
Binance offers a multi-asset mode, allowing traders to use different margin assets, such as Bitcoin (BTC), when trading these contracts. This feature provides flexibility and can be particularly useful for those looking to diversify their marginal 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 experienced traders and newcomers eager to explore different trading strategies.
In the context of the increasing complexity of the cryptocurrency market and the growing demand for various trading instruments, Binance's introduction of these new contracts is an important step forward. It highlights the exchange's commitment to meeting the evolving needs of its user base while navigating the risks associated with highly leveraged products.
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