Wang Long Chai
23 Aug 2024 09:10
Binance Futures will launch VIDTUSDT perpetual contracts on August 23, 2024, offering up to 75x leverage to expand trading options.
Leading cryptocurrency exchange Binance has announced the launch of a new USDⓈ-margined VIDTUSDT perpetual contract, which will be launched on August 23, 2024 at 09:30 (UTC). According to Binance.com, the new product will allow traders to leverage their positions by up to 75x.
Key Features and Details
VIDTUSDT Perpetual Contract is designed to enhance the trading experience of users by expanding the list of available trading options on Binance Futures. The contract has a maximum funding rate of +2.00% / -2.00% at launch, and the funding fee is settled every 4 hours.
Binance also stated that it may adjust the specifications of the VIDTUSDT Perpetual Contract based on market risk conditions. These adjustments may include changes to the funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements.
Multi-asset mode and conditions
Traders using Binance’s multi-asset mode can trade VIDTUSDT contracts across multiple margin assets, depending on the haircut applied. For example, users can use Bitcoin (BTC) as margin when trading this new perpetual contract.
VIDTUSDT perpetual contracts are subject to the Binance Terms of Use and the Binance Futures Service Agreement. Users are advised to review these terms to understand the full scope and risks involved in trading futures contracts.
Market conditions
The launch of the VIDTUSDT Perpetual Contract is part of a broader push by Binance to diversify its product offerings and meet the growing demand for leveraged trading options. Leveraged trading allows users to increase their positions, potentially increasing both profits and risks.
This move is in line with Binance’s ongoing efforts to stay ahead of the competition in the rapidly evolving cryptocurrency market. By offering higher leverage options, Binance aims to attract more sophisticated traders seeking greater flexibility and potential returns.
Important Considerations
Binance has released a disclaimer stating that digital asset prices may be highly volatile and that futures trading involves significant market risk and price volatility. Users are responsible for their own investment decisions and should conduct thorough research and consult with their financial advisors if necessary.
Binance also reserves the right to amend or cancel the announcement at any time without prior notice. For the most accurate and up-to-date information, users are advised to refer to the original English version of the announcement.
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