Binance Launches USDC-Margined Perpetual Contracts
Binance, the world’s largest crypto exchange, has announced the launch of USDC-margined perpetual contracts on Binance Futures. These contracts are available for major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), BNB, Solana (SOL), and XRP. Starting from January 3, 2024, users can trade these new perpetuals with leverage of up to 125x.
Expansion of USDC Support
In an official announcement, Binance revealed that it is expanding its support for the USDC stablecoin by introducing USDC-margined perpetual contracts. This move comes as the exchange ends its support for BUSD. The fee structure for these USDC-margined futures contracts will be similar to that of USDT-margined futures contracts.
Promotional Trading Fee Discount
Binance is offering a 10% promotional trading fee discount for all trades on USDC-margined futures contracts. Additionally, customers using BNB to pay their trading fees will receive an additional 10% discount on top of the promotional discount.
Market Risk Conditions
Binance has stated that it may make adjustments to the specifications of these futures contracts based on market risk conditions. This includes factors such as the funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements.
Liquidity Boost in the Crypto Market
The introduction of USDC-margined perpetual contracts and the addition of new USDC spot trading pairs for major cryptocurrencies on Binance aim to increase liquidity in the crypto market. These changes come ahead of an anticipated rally in early January, particularly with the potential approval of a spot Bitcoin ETF.
Hot Take: Binance Expands Trading Options with USDC-Margined Perpetual Contracts
Binance’s launch of USDC-margined perpetual contracts for popular cryptocurrencies provides traders with more trading choices and leveraged opportunities. With a promotional trading fee discount and the added benefit of using BNB to pay fees, users can take advantage of these new contracts at a reduced cost. These moves by Binance also contribute to increasing liquidity in the crypto market, which is beneficial for traders seeking more active markets. Overall, this expansion of trading options on Binance demonstrates the exchange’s commitment to providing innovative and diverse products for its users.
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