The leading cryptocurrency exchange, Binance is all set to launch the BNB/USDT contracts with the maximum leverage of 50x on its Futures trading platform. BNB will be available from February 10, 2020, for trading on the platform as per the announcement of the Exchange. It is the 17th digital asset that is added to the platform.
Binance As The Preferred Platform
Binance has strengthened its position in the market of crypto derivatives. It has established its position as the preferred platform for traders. It continuously advanced its functionalities since its launch. On January 14, 2020, the Exchange hits the trading volume of USD 3.46 billion.
Aaron Gong, Director of Binance Futures, is enthusiastic after the addition of 17th altcoin on its platform. He showed his confidence in the highly demanded contracts of BNB, which can bring all new investments in the crypto market.
In the last week, the Exchange announced the pairing of Zcash and USDT futures. Thus, there will be 17 pairs of perpetual futures contracts which include BTC/USDT, ETH/USDT, BCH/USDT, XMR/USDT, DASH/USDT, and BNB/USDT.
BNB is the native asset on the Chain of Binance. More than 2.5 million users have the BNB coins so, after the launch of BNB contracts, token holders can trade the asset flexibly.
How The Contracts Aid New Investments?
As the trading in BNB/ USDT will be hassle-free after the launch of contracts, it would also open the floodgates for the fresh investments. Changpeng Zhao, CEO of Binance, explains that unlike the traditional futures contract, there would be no expiration or settlement date for the launched contracts.
Perpetual Contracts will not depend on the predetermined settlement time, but they will take advantage of discrepancies in the spot and futures market. Thus, contracts can be treated as a tool for growing the crypto world.