The world’s largest crypto exchange Binance on Thursday said it will launch USDC-margined perpetual contacts on Binance Futures. Binance is offering USDC-margined futures contracts for major crypto such as Bitcoin (BTC), Ethereum (ETH), BNB, Solana (SOL), and XRP. Users can trade the new perpetuals starting at 12:30 UTC on January 3, 2024.
Binance Announces Major USDC-Margined Perpetual Contacts
Crypto exchange Binance in an official announcement on December 28 unveils the launch of USDC-margined perpeual contracts as it expand support for USDC stablecoin amid ending BUSD support.
Binance Futures will launch the USDC-margined BTC, ETH, BNB, SOL and XRP perpetual contracts, with up to 125x leverage. All USDC-margined futures contracts will have fee structure similar to USDT-margined futures contracts. The reason behind it is “to enhance users’ trading experience and expand the list of trading choices offered on Binance Futures.”
Notably, the exchange will offer a 10% promotional trading fee discount for all trades on USDC-margined futures contracts. In addition, customers using BNB to pay their trading fees will get additional 10% discount on top of the 10% promotional trading fee discount for USDC-margined futures contracts.
“Based on market risk conditions, Binance may adjust the specifications of the aforementioned futures contracts from time to time, which include the funding fee, tick size, maximum leverage, initial margin, and/or maintenance margin requirements, said Binance.
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On Dec 27, Binance announced adding new USDC spot trading pairs for major crypto including Solana (SOL), XRP, Cardano (ADA), Avalanche (AVAX), Polkadot (DOT), and Polygon (MATIC).
The new changes by Binance will increase liquidity in the crypto market amid an anticipated rally in the first weeks of January near much-awaited spot Bitcoin ETF approval.
Bitcoin trades sideways above $43,100 and Ethereum jumped over 5% in the last 24 hours. Altcoins BNB, XRP, and SOL also see upside momentum in this Santa Claus rally.
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