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Binance Futures launches perpetual contract with 50x leverage

binance-futures-launches-perpetual-contract-with-50x-leverage
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Binance Futures launches perpetual contract with 50x leverage

Binance Futures, a prominent player in the cryptocurrency sector, is poised to enhance its offerings with the introduction of a new product.

As of Oct. 15, Binance Futures has enabled crypto traders to tap into a new financial instrument, which allows for trading leverage up to a reported 50 times.

According to Binance, the BOND/USDT Perpetual Contract, backed by the BarnBridge (BOND) token as its underlying asset and having Tether (USDT) as its settlement asset, presents a new opportunity for crypto enthusiasts. It operates 24/7, ensuring continuous trading availability for its users.

The contract also comes with a tick size of 0.001 and a capped funding rate of +2.00% or -2.00%, with funding fee settlements set to occur every four hours.

News of the new offering comes only days after Binance launched U-based BIGTIME perpetual contracts with up to 20 times leverage.

Additionally, Binance introduced copy trading for its futures products on Oct. 9 in selected markets. The new feature allows users to follow and replicate the portfolios and strategies of seasoned traders.

It also offers “fixed amount” and “fixed ratio” modes to accommodate various user preferences and risk tolerances.

BOND continues to surge

Elsewhere, BarnBridge’s BOND token recorded a significant price surge, where its value more than doubled. 

Binance Futures launches perpetual contract with 50x leverage - 1
BOND price chart | Source: CoinGecko

The price rise was largely attributed to BarnBridge’s announcement that it intended to comply with unspecified demands by the U.S. Securities and Exchange Commission.

The token was trading at $4.20 on Oct. 14, marking a continuation of a two-day rally that saw the governance asset ascend to its highest price since May.

At present, BarnBridge is trading near its five-day high of $3.22. With the cryptocurrency 9.93% off its highest point and 80.47% higher than its five-day low of $1.61, BOND is in a potentially volatile position should the rally lose momentum.