In a blog post published on January 30, 2020, cryptocurrency trading platform Binance announced that it will launch ADA/USDT perpetual contract with up to 75x leverage.
Cardano (ADA) Contracts Arrive at Binance
Since its launch in September 2019, Malta-based exchange’s futures trading platform – Binance Futures – has added a slew of digital asset-based contract options that allow crypto traders to trade big with leverage as high as 125x.
As reported by BTCManager on January 7, 2020, Binance Futures had launched XRP/USDT perpetual contracts allowing Ripple’s altcoin holders to trade on high leverage on their holdings.
Binance Futures currently offers ten perpetual contracts to its users – BTC/USDT, ETH/USDT, BCH/USDT, XRP/USDT, EOS/USDT, LTC/USDT, TRX/USDT, ETC/USDT, LINK/USDT, and XLM/USDT.
Adding arsenal to its list of crypto-based market offerings, Binance Futures has stated its users will be able to trade in ADA/USDT perpetual contracts with up to 75x leverage from January 31, 2020, 08:00 AM UTC. The platform added that to prevent market manipulation, it will implement a pricing limit of +/- one percent on ADA’s mark price within the first 15 minutes after the trading starts.
Aaron Gong, Director, Binance Futures, said:
“To meet the high demand of our users, we are continuing to introduce major digital assets to the Binance Futures platform at a rapid pace. The addition of Cardano (ADA) is another step forward in our mission to grow the entire crypto derivative market and offer the ultimate trading experience for all users.”
Cardano Off to A Strong 2020
While the vast majority of altcoin projects seem to be drying up their funds, Charles Hoskinson-led Cardano has been burning the midnight oil in anticipation of the Shelley Upgrade.
BTCManager reported on January 14, 2020, how ADA developers were patching bugs in Cardano Testnet ahead of the Shelley launch. At the time, IOHK – Cardano’s R&D arm – had released a network patch for its incentivized Testnet in a bid to offer more network stability.
On a more recent note, BTCManager on January 29, 2020, reported how Cardano had inked a major partnership with one of the “Big 4s” of accounting and auditing, PwC.