Binance Launches DOGE Perpetual Contract With 75x Leverage
Binance Futures is expanding its offerings with the introduction of a USDC-margined DOGE Perpetual Contract, allowing users to trade Dogecoin with up to 75x leverage. Settled in USDC, the contract features a tick size of 0.00001 and funding fee settlements every eight hours. Trading will be available 24/7 to cater to the global cryptocurrency market. Additionally, Binance Futures is offering a 10% promotional trading fee discount on all trades related to USDC-margined futures contracts until April 3, 2024.
About Binance Futures’ DOGEUSDC Perpetual Contract
The USD-M DOGE Perpetual Contract will be settled in USDC and boasts a tick size of 0.00001. Whilst, with a capped funding rate of +0.3750%/-0.3750%, funding fee settlements will occur every eight hours. Trading on the DOGEUSDC Perpetual Contract will be available 24/7 to cater to the global nature of the cryptocurrency market.
Furthermore, one notable feature is the Multi-Assets Mode. It will enable users to trade the DOGEUSDC Perpetual Contract across multiple margin assets. This feature enables traders to use various assets, such as Bitcoin (BTC) as margin when engaging in transactions, subject to applicable fees.
Moreover, it’s worth noting that to incentivize adoption, Binance Futures is offering a 10% promotional trading fee discount on all trades related to USDC-margined futures contracts. The discount will be available until April 3, 2024, at 12:30 a.m. UTC.
This move broadens trading choices on Binance Futures and the discount makes the DOGEUSDC Perpetual Contract even more attractive. Whilst, Dogecoin traders are eagerly anticipating the launch of the USDC-margined DOGE Perpetual Contract to grab potential trading opportunities.
However, users should remain vigilant, as Binance reserves the right to adjust contract specifications based on market risk conditions. This could impact various factors like funding fees, tick size, maximum leverage, initial margin, and maintenance margin requirements.
Dogecoin Price To Fall Below $0.080?
Dogecoin has experienced significant declines recently and is currently trading near the $0.080 mark. There is a possibility that the price might fall below this level considering the recent bearish turn. At press time, the DOGE price fell by 0.46% to $0.08058 on Wednesday, January 17.
The market cap of Dogecoin stood at $11.49 billion, down by 0.46%. However, the trading volume surged by 19.86% to $324.95 million. Last week, the crypto saw an upswing after Elon Musk reaffirmed his support for DOGE by revealing that he still holds a substantial share of the crypto.
Hot Take: Binance Expands Trading Options with DOGE Perpetual Contract
Binance Futures’ launch of the USDC-margined DOGE Perpetual Contract provides users with more trading choices and opportunities in the cryptocurrency market. The contract offers high leverage and multiple margin assets options, making it appealing to traders. With a promotional fee discount available for a limited time, there is added incentive for users to take advantage of this new offering.
By
By
By
By
By
By