U.Today Announces Crucial Update from Binance for BTC, XRP, ADA Futures Traders: Full Information

© Reuters. Binance Announces Essential Advisory for BTC, XRP, ADA Futures Market Participants: Full Information

U.Today – Binance, the eminent cryptocurrency trading platform leading in terms of trading volume, recently made an essential advisory for participants of futures trading.

The trading platform has observed certain events where individuals engaging in futures trading had received older alerts linked to prior trading activities. In response, Binance reassures its users that these outdated alerts bear no effect on current trading engagements, whilst extending their apologies for any troubles experienced.

Trading on Binance Futures encompasses the activity of both quarterly and perpetual futures contracts. To elaborate, quarterly futures contracts reach a point of expiration every three months.

Binance Futures in September undertook the addition of new quarterly futures contracts for cryptocurrencies including BTC, ETH, BNB, ADA, LINK, BCH, DOT, and LTC, as has been reported.

Additionally, Binance Futures has scheduled the introduction of a USDC-backed DOGE Perpetual Contract set for launch on January 18, 2024, at 10:00 a.m. UTC.

Perpetual contracts, by definition, are types of futures contracts that indefinitely remain in effect, offering traders the ability to wager on the price direction of the associated crypto asset without the necessity of handling the physical delivery inherent in typical futures contracts. Moreover, they have the advantage of providing higher leverage than standard contracts.

Such perpetual contracts facilitate easier positioning for traders aiming to short or hold pessimistic views on any given cryptocurrency, when compared to traditional spot market transactions.

On January 4, Binance marked the official commencement of USDC-margined perpetual contract trading on its platform, with the intent to augment the user trading experience and to diversify the array of trading instruments on Binance Futures, which previously primarily focused on USDT-margined contracts.

The initiation of the USDC-margined perpetual contract trading started with a preliminary selection of cryptocurrencies namely BTC, ETH, BNB, SOL, and XRP, with plans to append DOGE to this list on January 18.

The original version of this article can be found at U.Today