Binance Futures launches BCH/USDT with upto 75x leverage
Binance, the Malta-based cryptocurrency exchange, has launched BCH/USDT (Bitcoin Cash) Futures contracts with up to 75x leverage on its Binance Futures trading platform.
Binance Futures was in news recently for rolling out its Ethereum(ETH) Futures contracts up to 75 times leverage. It has now launched its third perpetual contract, BCH/USDT with leverage up to 75 times.
The announcement read,
“Binance Futures has launched its third perpetual contract, BCH/USDT Users will be able to select between 1-75x leverage.”
Now, perpetual BCH/USDT contracts will allow exchange customers to trade the fifth most active asset on the market versus the fourth with the possibility of using borrowed funds 75 times higher than their own collateral.
Last September, Binance debuted its Futures trading platform for BTC (Bitcoin) contracts allowing traders to hedge positions and manage risk, giving them an opportunity to multiple gains using leverage.
On the other hand, traders can trade BTC with a leverage of up to 125x, the highest leverage among major crypto exchanges like BitConnect, OKex, and Huobi DM. OKex, another Malta-based spot and futures digital asset exchange announced recently that it would be adding cryptocurrency options and thus became the first crypto exchange to offer C2C, spot, futures, perpetual swap, and options trading.
According to the latest report, Binance has also made an investment in Futures Upstart FTX as part of a strategic partnership between the two firms.
Looking at these latest developments, it is likely that Binace Futures might become one of the most relevant portals in the futures market.
OhNoCrypto
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Rakshitha Narasimhan, Khareem Sudlow