- Binance Futures has expanded its trading offerings with the launch of a USD-margined QUICK perpetual contract.
- This contract allows traders to use leverage up to 75x, enhancing their trading capabilities in the derivatives space.
- “The introduction of the QUICKUSDT contract signifies Binance’s commitment to meeting the evolving needs of crypto traders,” said a Binance spokesperson.
Stay informed about the latest developments in cryptocurrency trading with Binance’s new QUICK perpetual contract, offering high leverage and flexibility.
Binance Futures Launches QUICK Perpetual Contract with 75x Leverage
Binance Futures, a leading player in the cryptocurrency derivatives market, has officially launched its QUICKUSDT perpetual contract, significantly enhancing its product lineup. This new trading instrument became available on September 6, 2024, at 05:00 UTC and is tailored to meet the needs of both seasoned and novice traders, as it operates continuously, reflecting the 24/7 nature of the cryptocurrency ecosystem.
Contract Specifications and Trading Conditions
The QUICK perpetual contract is specifically tied to QuickSwap (QUICK) with Tether (USDT) as the settlement currency, providing substantial liquidity and reliability. The contract features a tick size of 0.00001 and supports a maximum leverage of 75x, positioning it as an appealing tool for advanced trading strategies. Additionally, the dynamic funding rate operates with adjustments every four hours, capped between +2.00% and -2.00%, ensuring an active and fair trading environment.
The Benefits of Multi-Assets Mode
A notable feature of the QUICK perpetual contract is the integration of Multi-Assets Mode, empowering traders to utilize various cryptocurrencies such as Bitcoin (BTC) as collateral. This flexibility is designed to enhance the trading experience, enabling users to optimize their margin and diversify their investment strategies. Binance’s ongoing commitment to innovation reflects its response to the evolving demands of the trading community.
Market Implications and Future Outlook
The launch of the QUICK perpetual contract could potentially bolster the market position of QuickSwap by increasing its liquidity and market awareness. The attraction of high-leverage trading opportunities may draw in additional traders seeking higher risk-reward profiles, thereby elevating the trading volume and contributing to price stability for QUICK. Following the launch, QuickSwap witnessed a price increase to $0.04287, representing a 15.50% rise within 24 hours, accompanied by a staggering 139.87% increase in trading volume, which propelled its market capitalisation to approximately $31,094,121.
Conclusion
The introduction of the QUICK perpetual contract by Binance Futures marks a significant advancement in crypto derivatives trading, with its high leverage and flexible trading conditions. As the market adapts to these innovations, traders are encouraged to consider the associated risks while exploring new avenues for investment. The regulatory push by Binance, further underscored by its partnership with Grant Thornton for auditing and tax services, also signals a commitment to compliance, which may enhance overall investor confidence in the platform.
