Binance Futures has launched a new trading product, the USDⓈ-M 1000RATS Perpetual Contract. This addition, effective from December 15, 2023, at 14:00 UTC, introduces an innovative derivative in the cryptocurrency market. The contract will be paired against USDT and offers a significant leverage option of up to 50x, catering to a diverse range of trading strategies and risk appetites.
This perpetual contract, denoted as 1000RATSUSDT, is grounded in the underlying asset 1000RATS. In addition, it operates with a tick size of 0.00001 and adheres to a capped funding rate of +2.00% / -2.00%. Uniquely, the funding fee settlement occurs every four hours, ensuring continuous alignment with market conditions. Traders can engage with these contracts 24/7, and Binance supports Multi-Assets Mode, allowing for a more flexible margining in assets like BTC.
In recognition of their crucial role, qualified USDⓈ-margined futures liquidity providers will benefit from a 0.005% maker fee rebate when trading 1000RATSUSDT. This incentive, spanning approximately two weeks, underscores Binance’s commitment to fostering a robust and liquid trading environment.
Concurrently, the cryptocurrency market has witnessed a surge in the popularity of BRC-20 tokens like RATS, SATS, and ORDI. These tokens have seen impressive gains, with RATS and SATS yielding 610.6% and 329.9% weekly gains, respectively. ORDI, although not as high in returns, boasts a significant market capitalization and trading volume, reflecting a 10% increase in the same period. The launch of the 1000RATS Perpetual Contract by Binance is set to catalyze interest and investment in these tokens further.
The listing of 1000RATS on Binance Futures and the introduction of 1000SATS in spot trading mark pivotal moments. Often, listings on major exchanges like Binance trigger price movements, a phenomenon observed with these BRC-20 tokens. At present, 1000SATS is trading at $0.0008684, a 15% surge from the intra-day low while ORDI is priced at $53.69 on Binance.
Read Also: Peter Brandt Stirs Debate with Harsh Critique of Ethereum
Bitcoin extended declines on Tuesday, following the United States military response against Iran. The geopolitical…
Strategy recently raised its capital once again with MSTR stock ATM sales while also buying…
The U.S. Federal Reserve's first FOMC meeting under new Fed Chair Kevin Warsh is coming…
AI firm Anthropic has released the public version of its Mythos AI model, 'Claude Fable.'…
Crypto firm Paradigm has sent a comment letter to the U.S. Federal Deposit Insurance Corporation…
Kalshi prediction market applied for Hyperliquid (HYPE) perpetual futures, expanding the list beyond altcoins such…