Binance Futures to Introduce WIFUSD COIN-M Perpetual Contract with 20x Leverage
Timothy Morano Jul 16, 2024 09:30
Binance Futures announces the launch of the WIFUSD COIN-M Perpetual Contract with up to 20x leverage, starting July 23, 2024.
Binance Futures is set to launch a new WIFUSD COIN-M Perpetual Contract, which will be available to traders starting July 23, 2024, at 12:00 (UTC). This new financial instrument will offer leverage of up to 20x, according to an official announcement from Binance.
Contract Details and Features
The WIFUSD COIN-M Perpetual Contract comes with several key features designed to appeal to both novice and experienced traders. Notably, the contract will have a funding fee settlement frequency of every eight hours. Binance has also indicated that it may adjust various contract specifications, including the funding fee, tick size, maximum leverage, initial margin, and maintenance margin requirements, in response to market risk conditions.
All trading activities related to the WIFUSD COIN-M Perpetual Contract will be governed by the Binance Terms of Use and the Binance Futures Service Agreement. Traders are advised to review these documents to fully understand the terms and conditions applicable to this new financial product.
Risk and Compliance
Binance has issued a disclaimer highlighting the inherent risks associated with digital asset trading, particularly futures trading, which is subject to high market risk and price volatility. Traders may be required to make additional margin deposits or interest payments on short notice, and failure to do so could result in the liquidation of collateral without consent. Binance emphasizes the importance of conducting an independent assessment of the risks and benefits associated with futures trading before participating.
Market Impact
The introduction of the WIFUSD COIN-M Perpetual Contract is part of Binance Futures' ongoing efforts to expand its product offerings and provide traders with more diverse trading options. The new contract is expected to attract significant interest, given its high leverage and the flexibility it offers to traders looking to capitalize on market movements.
As the market for cryptocurrency derivatives continues to grow, Binance remains at the forefront, consistently introducing innovative products to meet the evolving needs of its user base. The launch of the WIFUSD COIN-M Perpetual Contract is a testament to Binance's commitment to enhancing its trading platform.
For more detailed information, traders can refer to the official announcement on Binance's website.
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