Protected (SAFE) crypto token has skilled a notable worth rally, rising over 70% throughout the previous week. This substantial increase is attributed to the current Binance information. The cryptocurrency change will introduce the SAFEUSDT perpetual contract on October 25, providing as much as 75x leverage for merchants.
Binance Introduces SAFEUSDT Perpetual Contract with 75x Leverage
Based on current Binance information, the change is increasing its vary of leveraged buying and selling choices by including the SAFEUSDT perpetual contract. This new product permits merchants to take part with as much as 75x leverage, considerably rising the potential features and dangers. The crypto exchange staff shared that the launch would happen on October 25 at 12:30 UTC, opening up extra buying and selling flexibility for customers.
The SAFEUSDT perpetual contract is USD-margined, that means customers can commerce utilizing USDT because the settlement asset. This contract’s launch will improve customers’ expertise by permitting higher-leverage buying and selling on the Protected (SAFE) crypto token 24/7.
Moreover, the perpetual contract will embrace a tick measurement of 0.0001, an ordinary format to facilitate seamless buying and selling. The contract’s funding price is capped at +2.00% or -2.00%, with funding charges settled each 4 hours to take care of buying and selling equilibrium. These funding intervals assist steadiness the pricing between lengthy and quick positions, accommodating the market’s volatility whereas minimizing buying and selling disruptions.
Along with excessive leverage, Binance is providing Multi-Belongings Mode for the SAFEUSDT perpetual contract, which permits customers to make use of different cryptos as collateral. This method, permits merchants to make use of BTC and different eligible belongings as margins. This characteristic will improve liquidity and attraction to extra customers, particularly these managing diversified portfolios.
SAFE Value Sees Main Uptick
Following the Binance information, SAFE Value has seen a substantial rally, with the token climbing over 70% throughout the previous week. On the time of the announcement, SAFE Value was buying and selling at $1.64, representing a 20% improve within the final 24 hours. With an 82.92% rise in buying and selling quantity, the asset has continued to draw consideration from each new and present holders.
Furthermore, the SAFE token rally follows a current listing on Upbit, one in every of South Korea’s main crypto exchanges. This itemizing and as we speak’s Binance information have triggered a worth rally to over 100% within the final month. SAFE has seen elevated investor curiosity, with rising on-chain information indicating additional shopping for strain.
Equally, one other meme token, Moo Deng (MOODENG), saw a 90% worth spike following its Binance futures itemizing with as much as 75x leverage. Coupled with a capped funding price of +2.00% / -2.00%, the itemizing drove MOODENG worth to $0.1388 intraday.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with 4 years {of professional} expertise, having contributed considerably to varied media retailers on cryptocurrency tendencies and applied sciences. With over 4000 revealed articles throughout varied media retailers, he goals to tell, educate and introduce extra folks to the Blockchain and DeFi world. Outdoors of his journalism profession, Ronny enjoys the fun of motorbike using, exploring new trails and landscapes.
Disclaimer: The offered content material might embrace the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability in your private monetary loss.
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