As a seasoned analyst with extensive experience navigating the dynamic world of cryptocurrencies, I find the recent move by Binance Futures to launch the USD-margined QUICK perpetual contract quite intriguing. The 75x leverage on offer is a bold step, one that caters to the high-risk, high-reward appetite of many traders in the crypto space.
Through a recent expansion, Binance Futures – the derivatives section of the international cryptocurrency exchange – has introduced a new USD-margined QUICK perpetual contract. This contract offers up to 75x leverage and is now accessible, enhancing the trading experience by providing more choices for traders.
Binance Futures Launches QUICK Perpetual Contract with 75x Leverage
On September 6, 2024, at 05:00 UTC, Binance Futures launched its new QUICKUSDT Perpetual Contract, broadening the scope of its trading services. This non-stop contract mirrors the uninterrupted nature of the cryptocurrency market and is designed to trade around the clock.
This contract utilizes QuickSwap (QUICK), a well-known digital currency, alongside Tether (USDT) for settlements. It boasts a tick size of 0.00001 and offers up to 75 times leverage, empowering experienced traders to optimize their trading tactics efficiently.
Furthermore, the funding cost is adjusted every 4 hours, maintaining an active involvement and equilibrium in the funding rates. These rates are limited to a maximum of +2.00% and a minimum of -2.00%.
Contract Specifications and Trading Conditions
Additionally, Binance Futures highlights the adaptability of its innovative QUICK perpetual contract by introducing Multi-Assets Mode. This functionality empowers traders to utilize various digital currencies, including BTC, as security for their trades, thereby increasing trading versatility. These advancements reflect Binance’s dedication to catering to user requirements and responding to market trends.
As a researcher, I’d like to highlight that the platform has shared plans to adapt contract details such as funding fees, tick sizes, leverage limits, and margin requirements according to current market scenarios. This move is essential for preserving a harmonious and equitable trading ecosystem, while simultaneously catering to differing risk-reward proportions.
Potential Impact on QuickSwap Market Position
Introducing Binance Futures’ QUICK perpetual contract may boost its liquidity and prominence within the crypto market. With its high leverage feature, it could draw in a fresh wave of traders seeking risky yet lucrative trading experiences, possibly escalating the trading volume and enhancing the stability of the QUICK price.
Additionally, increased visibility via Binance Futures might foster wider adoption and compatibility within the digital currency sphere, contributing to its ongoing development. Keep in mind that, as with any high-risk financial products, users should exercise prudence when trading due to the elevated level of potential risk involved.
After the announcement, QuickSwap saw a substantial price jump to around $0.04287, representing a 15.50% price hike over the past 24 hours. This surge was accompanied by an impressive 139.87% boost in trading activity, causing the market capitalization to approximate $31,094,121.
Moreover, it was announced on Wednesday that Binance, a leading cryptocurrency exchange, is making strides in regulatory compliance by selecting Grant Thornton as their accounting and tax partner for future endeavors.
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2024-09-06 12:44