Binance Futures Launches Perpetual Contracts For Solana's Fartcoin

Highlights

Binance Futures launched 75x leverage USD-Margined perpetual contracts for AIXBT, FARTCOIN, KMNO, and CGPT on Dec 20, 2024.
Multi-Assets Mode supports trading the new contracts using assets like BTC as margin on Binance Futures platform.
Funding rate for new perpetual contracts capped at +2.00%/-2.00%, settled every four hours, 24/7 trading enabled.

Binance Futures, one of the most popular crypto futures trading platform, has announced the launch of new USD-margined perpetual contracts, including Solana’s Fartcoin (FARTCOIN), with leverage up to 75x. The contracts were introduced on December 20, 2024, providing traders with expanded options to engage in high-leverage trading on the Binance platform.

Binance Futures Adds AIXBT, KMNO, and Solana’s Fartcoin Perpetual Contracts

According to a recent blog post, Binance Futures introduced USD-margined perpetual contracts for AIXBT, KMNO, Solana’s Fartcoin, and CGPT. The contracts offer a maximum leverage of 75x, allowing traders to optimize their positions and manage risk effectively.

The schedule for the contract launches began with the AIXBTUSDT perpetual contract at 18:30 (UTC), followed by the FARTCOINUSDT contract at 18:45 (UTC). The KMNOUSDT and CGPTUSDT contracts were subsequently introduced at 19:00 (UTC) and 19:15 (UTC), respectively.

Moreover, these contracts are designed to cater to diverse trading needs. Trading hours are 24/7, with funding fee settlements occurring every four hours. The funding rate is capped at +2.00%/-2.00% at launch, ensuring a stable trading environment.

In addition, the top crypto exchange supports Multi-Assets Mode for these perpetual contracts. This feature enables users to trade the new contracts using alternative margin assets, such as BTC.

More so, Multi-Assets Mode provides traders with greater flexibility and capital efficiency. It reduces the need for converting holdings into specific assets, streamlining the margin process across all supported contracts.

Contract Specifications and Price Action

The contracts come with specific tick sizes and settlement mechanics. AIXBT and KMNO contracts have a tick size of 0.00001, while Solana’s Fartcoin (FARTCOIN) contracts feature a tick size of 0.0001. All contracts are settled in USDT, ensuring consistent valuation and trade execution.

Following the announcement of its perpetual contract, Solana’s Fartcoin price surged from approximately $1.10 to $1.21 later in the day. This increase of over 10% highlights heightened market interest and trading activity.

Similarly, AIXBT price showed a significant movement following announcements. Before the Binance Futures perpetual contract announcement, the price was approximately $0.2522. Shortly after the Binance listing news, AIXBT price peaked above $0.28 before stabilizing around $0.2613.

Meanwhile, Kamino Finance (KMNO) and ChainGPT (CGPT) demonstrated notable price movements in the last 24 hours following the announcements of their USD-margined perpetual contracts. KMNO price climbed from approximately $0.1726 to $0.1899, marking a 10 increase.

Following suit, CGPT saw an impressive surge in its value, jumping from around $0.17 to $0.2093, representing a 22% increase in 24 hours. This growth was accompanied by a rise in trading volume, indicating strong demand among traders.

Moreover, the listing follows recent Binance Futures moves to list high-demand tokens. Most recently, Moca Network MOCA token was added with 75x leverage, driving its price up 160% to $0.22. Trading volume surged 7558% to $1.34 billion, and Futures Open Interest jumped 1297% to $35.64 million.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

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