Binance Introduces NFPUSDT Perpetual Contract Amidst NFP Price Surge

Binance Futures Launches NFPUSDT Perpetual Contract

Binance Futures has introduced the USD-M NFP Perpetual Contract, allowing traders to engage in perpetual trading with up to 50x leverage. The contract settles in USDT and is based on the underlying asset NFPrompt (NFP). This launch follows the listing of NFP on Binance.

Details of the NFPUSDT Perpetual Contract

The key details of the Binance Futures USD-M NFP Perpetual Contract are as follows:

Launch Time: December 27, 2023, at 1:30 p.m. UTC
Underlying Asset: NFPrompt (NFP)
Settlement Asset: USDT
Tick Size: 0.0001
Capped Funding Rate: +2.00%/-2.00%
Funding Fee Settlement Frequency: Every 4 Hours
Maximum Leverage: 50x
Trading Hours: 24×7
Multi-Assets Mode: Supported

Binance will also offer a maker fee rebate for qualified liquidity providers during the initial period. The exchange reserves the right to adjust specifications based on market conditions.

NFPUSDT Perpetual Contract in Multi-Assets Mode

The Multi-Assets Mode allows users to trade the NFPUSDT Perpetual Contract with various margin assets, including Bitcoin, subject to applicable haircuts. This mode provides traders with increased flexibility and the ability to leverage different trading strategies.

Binance has also introduced NFP to Binance Convert, enabling users to trade NFP against BTC, USDT, and other supported tokens with zero fees. The NFP listing on Binance occurred after the conclusion of the Binance Launchpool project. The NFPrompt network also scheduled an airdrop to reward their supporters.

NFP Price Today

Following these developments, the NFP price experienced a 1.39% increase and traded at $1.188369 at press time. The crypto’s market capitalization rose by 0.58% to $294.38 million, with a daily trade volume of $277.39 million. The current circulating supply of NFP is 250 million tokens out of a total supply of 1 billion tokens.

Hot Take: Binance Futures Introduces NFPUSDT Perpetual Contract

Binance Futures has launched the USD-M NFP Perpetual Contract, allowing traders to engage in perpetual trading with up to 50x leverage. This development follows the listing of NFP on Binance and provides users with more opportunities for trading and leveraging diverse strategies. Additionally, Binance has introduced NFP to Binance Convert, enabling zero-fee trading against various tokens. The NFP price experienced a slight increase following these announcements, indicating growing interest in the cryptocurrency. Overall, this move by Binance expands its offerings and strengthens its position as a leading platform for crypto trading.