Binance Introduces USDC-Margined DOGE Perpetual Contract with Enhanced Trading Features
The world’s leading cryptocurrency exchange, Binance, is expanding its services on Binance Futures by launching the USDC-margined DOGE perpetual contract. Starting from January 18, this new option will allow trading with up to 75x leverage. Clients will also have the Multi-Assets Mode activated, enabling them to use various cryptocurrencies, including Bitcoin (BTC), as margin.
In addition to the launch, Binance is offering a 10% promotional fee discount for all trades on USDC-margined futures contracts until April 3, 2024. However, it should be noted that Binance reserves the right to adjust the specifications of these futures contracts based on market risk conditions.
Increasing Liquidity and Credibility
The support from a major player like Binance can potentially increase the liquidity and credibility of DOGE. This move may boost investor confidence in the digital asset. However, despite this announcement, DOGE has not experienced significant volatility and is currently trading at around $0.08.
Continued Adjustments by Binance
This is not the first adjustment made by Binance in 2024. The exchange recently added several cryptocurrencies to its Monitoring Tag list for regular reviews. It also introduced new cross-margin and isolated margin pairs for trading. Additionally, Binance has announced the removal of four spot trading pairs starting from January 19.
Hot Take: Binance Expands Services with USDC-Margined DOGE Perpetual Contract
Binance continues to make strategic moves in order to provide enhanced trading options for its users. The introduction of the USDC-margined DOGE perpetual contract with increased leverage is another step towards expanding its offerings. By activating the Multi-Assets Mode, Binance allows clients to use different cryptocurrencies as margin, providing more flexibility in trading. With the support of a major exchange like Binance, DOGE’s liquidity and credibility could potentially improve, attracting more investors. However, at present, DOGE has not shown significant price movement following the announcement. Binance’s ongoing adjustments and additions demonstrate its commitment to adapting to market conditions and meeting the evolving needs of crypto traders.
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