Binance Futures Launches DASH/USDT Perpetual Contract With Up to 50x Leverage
Binance, one of the world’s largest cryptocurrency exchanges, added Dash to its Futures market. Binance Futures announced the launch of DASH/USDT perpetual contract today.
In the announcement, the company stated that the DASH/USDT perpetual contracts will begin trading on 4 Feb 2020 from 08:00 AM (UTC) and users will be able to select the leverage they want ranging from a minimum of 1x up to a maximum of 50x.
— Binance (@binance) February 3, 2020
In its announcement, Binance Futures added that in order to prevent market manipulation, it will implement a pricing limit of +/- 1 percent on Dash’s market price within the first 15 minutes after trading begins. The pricing limit cap acts as a counterforce to mitigate sudden violent price swings in cryptocurrencies that get listed on the high-profile exchange.
The DASH futures contracts will join a host of other derivatives for different underlying cryptocurrencies at Binance. The exchange now offers futures contracts for Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), XRP, EOS, Litecoin (LTC), TRON (TRX), Ethereum Classic (ETC) and Stellar (XLM), Cardano (ADA) and Monero (XMR). All are traded against Tether (USDT).
The addition of margin trading capabilities to smaller altcoins tends to cause them to have heightened volatility, which may suggest that DASH will soon see a massive extension of the volatility it has incurred over the past several weeks and months.
Bitmex CEO Arthur Hayes: Bitcoin Futures Trading Volume Exceeds $2 Trillion
Margin trading has long been a popular way for active investors to capitalize on Bitcoin’s volatility, with platforms like Bitmex growing to account for a vast swath of the trading volume seen surrounding the benchmark cryptocurrency.
The co-founder of leading crypto derivatives exchange, BitMEX, announced that a crucial milestone for the Bitcoin (BTC) futures market has been reached.
Arthur Hayes has shown the trading volume figures of his exchange. With a daily turnover of close to 288K in Bitcoin Futures (XBT), the overall trading volume, since launch, has exceeded two trillion dollars.
The XBTUSD swap just crossed $2 Trillion in total volume traded since it launched in 2016. I’ll drink to that! pic.twitter.com/hmGzaOB9PN
— Arthur Hayes (@CryptoHayes) February 3, 2020
BitMEX is one of the first Bitcoin futures (XBT) exchanges. It is also a pioneer in another sphere of derivatives on crypto, perpetual contracts.
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