- The world’s largest cryptocurrency exchange, Binance, announced that it would launch USTC futures contracts, offering 50x leverage, following a careful review on Monday.
- Before Binance’s USTC futures announcement, tokens from the Terra ecosystem experienced a significant surge. Investors quickly reacted to the announcement, causing prices to soar even higher.
- The current price of USTC is $0.066, having increased by 300% in the last 24 hours. Its 24-hour low and high values are $0.015 and $0.075, respectively.
Crypto exchange Binance announced that it would launch futures trading for USTC in the Terra ecosystem, offering 50x leverage. When will USTC futures trading begin?
Binance Announces Futures Trading for USTC
The world’s largest cryptocurrency exchange, Binance, announced that it would launch USTC futures contracts, offering 50x leverage, following a careful review on Monday. This move coincided with a period of significant price surges for TerraClassicUSD (USTC) and Terra Classic (LUNC) as Binance made plans to launch USTC futures, scheduled to start today at 12:30 UTC.
The funding fee settlement frequency is every four hours, and the settlement asset is determined to be USDT. Additionally, the initial maximum funding rate for the USTCUSDT Futures Contract was announced as +2.00% / -2.00%. Binance will allow users to trade the USTCUSDT Futures Contract across multiple margin assets in the Cross Collateral mode.
“Liquidity providers in dollar-denominated futures will have the right to a 0.005% market maker fee discount for approximately 14 to 15 days on the USTCUSDT Futures Contract.”
This announcement further heightened community sensitivity and led to speculation about whether sudden rallies in Terra ecosystem tokens were already known by some investors. Before Binance’s USTC futures announcement, tokens from the Terra ecosystem experienced a significant surge. Investors quickly reacted to the announcement, causing prices to soar even higher.
Price Performance of LUNC and USTC
The price of LUNC has increased by almost 60% in the last 24 hours, currently trading at $0.00011. Its 24-hour low and high values are $0.0000787 and $0.0001256, respectively. The trading volume has also increased significantly, indicating interest among traders.
The price of USTC is currently $0.066, having increased by 300% in the last 24 hours. Its 24-hour low and high values are $0.015 and $0.075, respectively. The trading volume has also increased significantly. Investors should be mindful of profit realization as prices have surged significantly after Binance’s announcement.
