Binance Futures to Launch LTC/USDT Perpetual Contract with 75x Leverage, To Add Most Top 20 Cryptocurrency Soon
Binance has revealed it will launch a perpetual contract on the LTC/USDT trading pairs.
The contract will offer traders up-to 75x leverage and it’s expected to be open for trading by the 9th of January, 2020 at 08:00 AM (UTC).
In order to avoid market manipulations, the platform will implement a pricing limit of ±1% on the mark price within the first 15 minutes of trade commencement.
Hours ago, the fifth perpetual futures contract was also launched with the EOS/USDT pair. This commenced trading with between 1-75% leverage and also set a pricing limit of ±1% on the mark price within the first 30 minutes post trading commencement.
CEO of Binance also made it known via twitter that it will soon add on the Futures platform most of the top 20 cryptocurrency on coinmarketcap.
FUD. 1 Contracts are added to the API ahead of time, Anyone can see it. 2 These are top 10 crypto traded on many exchanges, with high liquidity.
— CZ Binance (@cz_binance) January 8, 2020
Binance Futures was launched and went live in September, 2019 after a beta test. The platform allows traders to take future contracts on various cryptocurrency listed on the platform.
Speaking on the technology powering the platform, Binance said “Binance Futures leverage trading is powered by a sophisticated risk engine and liquidation model that delivers fast results to users, including many safety features that serve to protect them as much as possible.”
According to Binance, within the first two months of launch, the Binance Futures platform had reached an all-time high (ATH) daily trading volume of more than 370,000 BTC an equivalent in USD of $3 billion as at today.
The ecosystem giant has reiterated its priority to protect its customers from losses. To this effect it offers stop-loss orders, take-profit-limit orders and several other options to close a position before the point of liquidation.
“Binance Futures aims to bring sustainable crypto-based futures trading to the industry so that users feel safe even when dealing with potentially high risks.” – Binance
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