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Binance’s futures platform, Binance Futures, has stirred the meme coin community by announcing the introduction of USD Coin-margined Dogecoin (DOGE) futures.
💎 Binance Listing
— CoinHippo (@coinhippoHQ) January 17, 2024
Binance Futures Will Launch USDC-Margined DOGE Perpetual Contract With Up to 75x Leveragehttps://t.co/2LXsYQDpCK#Binance #Cryptocurrency
Dogecoin USDC-margined futures debut
To enhance the trading experience and expand investment options for its users, the leading exchange announced USDC-margined DOGE futures on Binance Futures – its futures network. Investors can access Dogecoin futures margined with USD Coin starting 18 January at 13.00 TRT. Further, users will enjoy leverage of up to 75x.
Also, users will enjoy a 10% fee discount on all USDC-margined contracts until 3 April 2024. Meanwhile, the multi-asset functionality allows players to trade the token across various margin assets. For instance, users can trade DOGE-USDC perpetual contracts using Bitcoin as a margin under the multi-assets mode.
Crypto futures trading
Cryptocurrency futures are financial tools that allow investors to purchase or sell a digital coin at predetermined prices. Financial platforms such as crypto exchanges have these products, and traders can utilize them to benefit from future price changes within the market. The trading approach has gained increased popularity as it makes it easy to benefit from an asset’s future price actions.
Crypto futures trading has grown in popularity immensely and now dominates the crypto markets in terms of trading volume. The ability to go long or short on a cryptocurrency with leverage gives traders an easy way to speculate on price move
— Caden Miles (@CadenMiles18) October 24, 2023
Futures trading involves a buyer & a seller entering into a contract, which details the price and date of a particular asset purchase or sale. It helps players to determine potential upswings on downtrends in crypto prices.
Despite high risks, futures trading boosts market depth and liquidity on exchanges. Considering cryptos’ volatile natures, investors should manage these complex transactions carefully to remain profitable.
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