Binance Futures Will Launch Stellar (XLM) Perpetual Contract With Up to 75x Leverage
Binance Futures will launch XLM/USDT perpetual contract and open trading at 2020/01/20 08:00 AM (UTC). Over the past weeks, there have been tons of perpetual contracts launched by Binance Futures. Perpetual contracts such as LINK/USDT, ETC/USDT, TRX/USDT, LTC/USDT, EOS/USDT, XRP/USDT, BCH/USDT, and lots more have been launched by Binance Futures.
— Binance (@binance) January 19, 2020
The latest to be launched by Binance Futures as recently reported by Binance exchange is the XLM/USDT perpetual contract. According to the report, trade will be opened for the trading pair on 20th January 2020, at 08:00 AM (UTC).
For this Stellar (XLM) against Tether (USDT) trading pair, users will be able to select between 1-75x leverage.
According to Binance’s announcement, “to prevent market manipulation, Binance will implement a pricing limit of ±1% on the mark price within the first 30 minutes after trading starts.”
Also, it is worth keeping in mind that, as with the XLM/USDT perpetual contract “perpetual contracts on Binance Futures are similar to the trading pairs on the spot market,” and they are “priced and settled in the same manner.”
Binance concluded by sending a note of warning to the participating users regarding the high level of risks that abound in the Futures trading. It pointed out that there are chances for great profits and notable losses.
It averred that the fact that the market is often overwhelmed with price volatility makes it possible for all margin balance in users’ future wallets to become completely liquidated.
According to data from Coinmarketcap, at press time, XLM is currently trading at $0.06, down 3% in the past 24-hour period. Currently, XLM is the 10th most valuable cryptocurrency with a reported market cap of approximately $1,219 billion.
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