TL;DR
- Binance will launch the UXLINKUSDT perpetual contract on September 15, 2024, with leverage up to 75x.
- The contract will be USDT-margined and will feature a funding rate ranging from +2.00% to -2.00%.
- Users will be able to trade 24/7 and utilize the Multi-Assets Mode to trade with different margin assets.
Binance, the leading cryptocurrency exchange by trading volume, has announced the addition of a new perpetual contract to its futures offerings.
Starting September 15, 2024, traders will be able to access the UXLINKUSDT perpetual contract with leverage up to 75x.
This new product is designed to provide users with the opportunity to maximize their exposure to price fluctuations in UXLINK, an altcoin that has recently seen a significant increase in value.
The UXLINKUSDT perpetual contract will be USDT-margined and will feature a funding rate ranging from +2.00% to -2.00%, with settlements occurring every four hours.
This setup allows traders to continuously adjust their positions and manage risk more effectively.
The new contract will be available for trading 24/7, providing users with flexibility to trade at any time.
A notable feature of this new contract is the Multi-Assets Mode, which allows users to trade with multiple margin assets.
For instance, traders will be able to use BTC as margin when trading the UXLINKUSDT perpetual contract, offering greater versatility in managing their positions and trading strategies.
Implications of the Launch on Binance
The launch of this perpetual contract reflects the growing interest in UXLINK and its recent surge in the cryptocurrency market.
Since early September, the value of UXLINK has tripled, attracting the attention of investors and traders alike.
With the introduction of this perpetual contract, Binance aims to meet the demand for more advanced trading options and provide additional tools to capitalize on opportunities in the cryptocurrency market.
Moreover, the introduction of up to 75x leverage could appeal to both experienced traders and newcomers looking to maximize their potential gains.
However, it’s important to be aware of the risks associated with high leverage, as losses can be equally significant.
The addition of the UXLINKUSDT perpetual contract to Binance’s platform offers a new way for traders to engage with the growth of this altcoin.
The flexibility to trade with different margin assets and the availability of the contract around the clock allow users to tailor their trading strategies to their individual needs and the changing market conditions.
