Binance Futures to Launch USDⓈ-M BANANA Perpetual Contract with 50x Leverage

Binance
Futures,
one
of
the
leading
platforms
for
cryptocurrency
derivatives,
has
announced
the
launch
of
the
USDⓈ-M
BANANA
Perpetual
Contract,
which
will
offer
up
to
50x
leverage.
The
new
contract
is
set
to
go
live
on
August
15,
2024,
at
02:00
UTC,
according
to
Binance’s
official
announcement.

Contract
Details

The
USDⓈ-M
BANANA
Perpetual
Contract
will
allow
users
to
trade
with
a
maximum
leverage
of
50x,
enhancing
the
range
of
trading
options
available
on
Binance
Futures.
The
maximum
funding
rate
for
the
BANANAUSDT
Perpetual
Contract
at
launch
will
be
set
at
+2.00%
/
-2.00%,
with
funding
fee
settlements
occurring
every
four
hours.

Binance
noted
that
the
specifications
of
the
contract,
such
as
the
funding
fee,
tick
size,
maximum
leverage,
initial
margin,
and
maintenance
margin
requirements,
may
be
adjusted
based
on
market
risk
conditions.
This
flexibility
ensures
that
the
platform
can
adapt
to
changing
market
environments
and
maintain
optimal
trading
conditions
for
users.

Multi-Assets
Mode

Traders
will
also
have
the
option
to
use
the
Multi-Assets
Mode,
which
allows
the
use
of
various
cryptocurrencies
as
margin
assets.
For
instance,
users
can
utilize
Bitcoin
(BTC)
as
margin
when
trading
the
BANANAUSDT
Perpetual
Contract.
This
feature
provides
greater
flexibility
and
risk
management
options
for
traders.

Terms
and
Conditions

The
BANANAUSDT
Perpetual
Contract
will
be
subject
to
Binance’s
Terms
of
Use
and
the
Binance
Futures
Service
Agreement.
Users
are
advised
to
review
these
documents
to
understand
the
rules
and
requirements
governing
their
trades.

It’s
important
to
note
that
there
may
be
discrepancies
between
translated
versions
of
the
announcement
and
the
original
English
version.
Binance
recommends
referring
to
the
original
English
version
for
the
most
accurate
information.

Market
Impact

The
introduction
of
the
USDⓈ-M
BANANA
Perpetual
Contract
is
part
of
Binance
Futures’
ongoing
efforts
to
diversify
its
product
offerings
and
enhance
the
trading
experience
for
its
users.
By
providing
high
leverage
options
and
flexible
margin
requirements,
Binance
aims
to
attract
both
retail
and
institutional
traders
looking
for
advanced
trading
instruments.

For
further
details,
users
can
visit
the
official

Binance
announcement.

Image
source:
Shutterstock