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Binance Futures to launch ORDI perpetual contract

binance-futures-to-launch-ordi-perpetual-contract
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Binance Futures to launch ORDI perpetual contract

Cryptocurrency exchange Binance announced the listing of the ORDI perpetual contract.

According to a post on Binance Futures, the platform will launch a USDC-margined ORDI perpetual contract on Feb. 22, 07:00 (UTC), with up to 75x leverage.

The maximum financing rate for the ORDIUSDC perpetual contract at launch will be +2.00% and -2.00%. The funding fee calculation frequency will occur every four hours.

Users will be eligible for a 10% discount on trading fees for all USDC margined futures contract trades until April 03, 12:30 pm (UTC).

Following the news, the Ordi token (ORDI) jumped 6% in the last 24 hours. At the moment, the asset is trading at $72.6. ORDI’s trading volumes also jumped 13% to $159.46 million, while market capitalization jumped 5.6% to $1.52 billion, according to CoinMarketCap.

Binance Futures to launch ORDI perpetual contract - 1
Image: CoinMarketCap

Tokens of the standard, BRC-20, are digital assets that can be created and transferred on the Bitcoin (BTC) blockchain using the Ordinals protocol. This standard allows you to record data in Satoshi and turn it into tokens.

The ORDI token appeared in the spring of this year as a meme coin that initially did not associate itself with the developers of the Ordinals protocol. However, over time, the project became the largest among other BRC-20 tokens and is now the primary token of the protocol.