- Binance, the world-leading cryptocurrency exchange, announced on June 19 that it will launch new USD-M and COIN-M Futures contracts on June 28. These contracts will trade a few hours after the existing ones expire and settle.
- In addition to new futures contracts and lending options, Binance is delisting certain spot trading pairs due to liquidity issues, opening up new opportunities for investors.
- According to Binance’s official notice, the new contracts will feature significant updates to tick sizes and leverage ratios across various cryptocurrencies.
Discover the latest developments from Binance, including new futures contracts and changes in trading pairs, with in-depth analysis and market insight.
New Futures Contracts and Lending Options on Binance
Binance has thrilled investors with the announcement of new quarterly futures contracts and expanded lending services. These updates aim to offer diverse opportunities while also delisting certain spot pairs due to low liquidity. Traders can look forward to trading new futures contracts immediately after the current ones expire on June 28, 2024.
Updates on Contract Leverage and Tick Size
Binance highlighted specific changes in the tick sizes and leverage ratios for different cryptocurrencies. For USD-M contracts involving Bitcoin (BTC) and Ethereum (ETH), the minimum price change (tick size) will be 0.1 and 0.01, respectively, while the maximum leverage remains at 50x. COIN-M contracts span a variety of cryptocurrencies, such as BTC, ETH, Binance Coin (BNB), Cardano (ADA), Chainlink (LINK), Bitcoin Cash (BCH), Ripple (XRP), Polkadot (DOT), and Litecoin (LTC). Each of these will have tailored tick sizes and leverage ratios to better meet market demands.
Performance of XRP and ADA Under Scrutiny
Both XRP and ADA are currently underperforming when compared to BTC and ETH. ADA has seen its value halved over the past year, recently dropping to as low as $0.36. However, a 5% surge in the last 24 hours has sparked hopes for a rebound. Similarly, XRP has hit its yearly low, currently trading at $0.493. The cryptocurrency remains below crucial psychological support levels, with its 24-hour trading range showing significant volatility.
New Lending Options and Spot Pair Delistings
Binance is also extending its flexible and VIP lending services to new cryptocurrencies such as BounceBit (BB), ConstitutionDAO (PEOPLE), IO.NET (IO), Notcoin (NOT), Omni Network (OMNI), Starknet Token (STRK), Wormhole (W), and zkSync (ZK). Moreover, certain spot trading pairs will be delisted on June 21, 2024. The pairs to be removed include BETA/BTC, SEI/TUSD, and TIA/TUSD, due to low trading volumes and liquidity issues.
Conclusion
Binance’s recent announcements bring a mix of opportunities and challenges. With new futures contracts, expanded lending options, and the delisting of low-liquidity pairs, investors will need to adapt their strategies accordingly. As always, staying informed about such updates is crucial for making well-timed and informed trading decisions. Keep following Binance on their various social media platforms to stay ahead of any future developments.
