Binance Futures Launches OMG/USDT Perpetual Contracts With 50x Leverage

Binance Futures has announced that they will soon be offering traders access to up to 50x leverage on the OmiseGo’s token OMG. In the announcement, the company stated that the OMG / USDT perpetual contracts will begin trading at 2020/07/02 09:00 AM and users will be able to select the leverage they want ranging from a minimum of 1x up to a maximum of 50x.

Binance has started to take a precautionary measure in order to ensure that there would no market manipulation post the launch of the Futures product. The platform would be implementing a “pricing limit of ±1% on the mark price” within the first 15 minutes of post-trading. This move may have been a result of the exchange being drawn to the drastic price rise of certain cryptos, after announcing support for them on its platform.

OmiseGO (OMG) is an expanded financial solution developed on Ethereum’s Blockchain platform. OmiseGO allows users to conduct real-time peer-to-peer (P2P) transactions transparently and securely. OmiseGO’s decentralized network facilitates connectivity for autonomous financial services across agent areas, applications and asset classes.

OMG price today is $1.48 with a 24-hour trading volume of $73 million. OMG price is up 0.3% in the last 24 hours. It has a circulating supply of 140 million coins and a max supply of 140 million coins.

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