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

The margin trading wing of popular cryptocurrency exchange Binance has announced that they will soon be offering traders access to up to 50x leverage on cryptocurrency VET.

An announcement by Binance said:

Binance Futures will launch VET/USDT perpetual contract, with trading opening at 2020/02/14 08:00 AM (UTC). Users will be able to select between 1-50x leverage.

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.

VeChain is a blockchain-enabled platform that is designed to enhance supply chain management processes. By utilizing tamper-proof and distributed ledger technology, VeChain provides retailers and consumers with the ability to determine the quality and authenticity of products that are bought. From product source materials, to servicing history, and spare part replacements, every single piece of information about the supply chain movement of a product can be recorded and verified to bring about a supply chain management ecosystem that is secure for all participants.

VET price has been pumped up by 7% in the last 24 hours, and the current value remains at $0.008. The ongoing bullish run is likely to stay in the short-term, and investors are likely to yield even more.

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