Binance Futures To Open Trading For Tezos (XTZ/USDT) Perpetual Contracts With Up To 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 popular cryptocurrency Tezos (XTZ).
An announcement by Binance said:
Binance Futures will launch XTZ/USDT perpetual contract and trading opens on 2020/02/06 08:00 AM (UTC). Users will be able to select between 1-50x leverage.
#Binance Futures Will Launch @tezos $XTZ/USDT Perpetual Contract With Up to 50x Leveragehttps://t.co/SwedNFE6EJ pic.twitter.com/qm4JMdzjWL
— Binance (@binance) February 5, 2020
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.
Tezos (XTZ) crossed past a major price resistance level. The token has set the stage for a major bull run. There was a psychological barrier at $2; however, the token has broken past it, and the price is trending at 4%. Tezos has shown a price rise of 475% in 2019.
There are several other Proof of Stakes (PoS) coins in the cryptocurrency market, and not all of them have achieved a similar growth. PoS is based on a consensus algorithm where the network achieves using distributed consensus. The creator of the next block will be able to create a block based on the numbers of XTZ he or she holds. The mining power is equal to the numbers of tokens the miner holds.
Tezos – Gold Standard in Blockchain Governance
Tezos provide their users with the ability to vote concerning the core protocol changes, facilitating self-amending blockchain. The holders have highly participatory voting rights.
#Tezos is fostering a strong community in Africa. @CamerounTezos is organizing a meetup + technical training on #Tezos this coming Feb 29! pic.twitter.com/bPuMvnOSDE
— Tezos Africa (@TezosInAfrica) February 2, 2020
Tezos Ghana tweeted, “In just two weeks of opening up our registration form for the first Tezos meet up in Ghana, we’ve had so many sign-ups more than what we even expected. At this point, we have forced close the registration and look forward to our first meet up”.
Sydney Ifergan, the Crypto Expert, tweeted: “Ultimately, the miner who is holding XTZ is hoping to retire rich. Every mining method has pros and cons, whether using specialized hardware, pool mining, or cloud mining.”
- Coinbase Has Become The Largest Validator For Tezos (XTZ)
- Josh Goodbody Joins Binance To Lead Europe/LATAM Growth, Institutional Business