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SUPER’s soar triggers Binance’s high-leverage debut

TL;DR

  • Binance Futures launches USDⓈ-M SUPER Perpetual Contract with up to 50x leverage, following a significant 93% surge in the SUPER token’s value.
  • The new contract offers unique features like a capped funding rate, frequent funding fee settlements, and the flexibility of Multi-Assets Mode, allowing the use of various cryptocurrencies as margin.
  • Adjustments to the contract’s specifications are anticipated in response to market conditions, ensuring a secure and dynamic trading environment for users.

Binance Futures, a leading cryptocurrency derivatives platform, is setting the stage for a significant development in the crypto trading arena.

On November 26, 2023, at 13:00 UTC, they are launching the USDⓈ-M SUPER Perpetual Contract, featuring an impressive leverage of up to 50x.

This move comes hot on the heels of a remarkable surge in SUPER, the native token of the SuperFarm cross-chain DeFi protocol, which soared by more than 93% within a 24-hour span.

This launch marks a new chapter in Binance’s offerings, catering to traders seeking high-stakes opportunities in the volatile crypto market.

The USDⓈ-M SUPER Perpetual Contract, set to trade against USDT, is characterized by a minimum tick size of 0.0001. What makes this offering stand out is the capped funding rate set at +2.00% / -2.00%, ensuring a balanced trading environment.

The funding fee settlement will occur every four hours, aligning with the dynamic nature of the cryptocurrency markets. With trading available around the clock, traders globally can engage with this new contract at their convenience.

Navigating the New Trading Terrain

Binance’s introduction of the SUPERUSDT Perpetual Contract brings with it several noteworthy features. Qualified USDⓈ-margined futures liquidity providers are in for a treat as they will enjoy a maker fee rebate of 0.005% on trades involving this contract.

This incentive, available for about two weeks, is a clear nod to the platform’s commitment to fostering an active trading community.

In a unique twist, the Multi-Assets Mode on Binance Futures allows traders to use various margin assets, including BTC, when trading the SUPERUSDT Perpetual Contract.

This flexibility is a game-changer, offering traders more options and potentially enhancing their trading strategies. However, traders should be mindful of the applicable haircuts in this mode, ensuring they understand the implications of using different assets as margin.

A Dynamic and Responsive Trading Platform

Binance’s proactive approach to market risk conditions means that the specifications of the SUPERUSDT Perpetual Contract may undergo adjustments. These could include changes to the funding fee, tick size, maximum leverage, and margin requirements.

This adaptability reflects Binance’s commitment to providing a secure and stable trading environment, even in the face of the crypto market’s notorious volatility.

Traders looking to engage with the SUPERUSDT Perpetual Contract should be aware that it falls under the terms of the Binance Terms of Use and the Binance Futures Service Agreement.

As with any trading activity, it’s crucial to have a thorough understanding of these terms to navigate the potential risks and rewards effectively.

The launch of the SUPERUSDT Perpetual Contract by Binance Futures is a significant event for crypto traders, especially those looking for high-leverage opportunities.

The contract’s introduction, against the backdrop of SUPER’s remarkable price surge, signifies the growing interest and confidence in the utility and potential of DeFi tokens.

As the crypto landscape continues to evolve, Binance’s latest offering is a testament to the platform’s ongoing efforts to innovate and cater to the diverse needs of the global trading community.

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Jai Hamid

Jai Hamid is a passionate writer with a keen interest in blockchain technology, the global economy, and literature. She dedicates most of her time to exploring the transformative potential of crypto and the dynamics of worldwide economic trends.

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