Binance, one of the leading cryptocurrency exchange platforms, made a new statement. The stock exchange introduced a service that will enter the market on October 21, 2023 at 15:30 CET. It announced its latest offering, the USDⓈ-M RIF perpetual futures contract. This new contract will feature up to 50x leverage. Thus, it will offer exciting opportunities for traders and investors.
Binance lists a new perpetual futures contract
The USDⓈ-M RIF perpetual futures contract attracted attention. In its statement, Binance offers a number of features that promise to improve the trading experience, as outlined in the details below. You can see the details of the new contract on the Bitcoin and altcoin exchange as follows:
- Underlying asset: RIF
- Existence of compromise: USDT
- Teak size: 0.00001
- Cap funding rate: +2.00% / -2.00%
- Funding fee settlement frequency: every four hours
- Maximum leverage: 50x
- Trading hours: 24/7
- Multi-entity mode: Supported
What will the funding rate be?
The RIFUSDT contract will have a maximum funding rate of +2.00% / -2.00% when it enters the market. Funding fees will be paid every four hours. Details of the funding rate at specific times are as follows:
- 21 October 2023 19:00 CET: +2.00% / -2.00%
- 21 October 2023 23:00 +2.00% / -2.00%
- 22 October 2023 03:00 CEST: +2.00% / -2.00%
- 22 October 2023 07:00 CEST: +2.00% / -2.00%
RIF price increased
Binance’s announcement of this new perpetual futures contract has already caused significant fluctuations in the cryptocurrency market. RSK Infrastructure Framework (RIF) price has risen dramatically. As of today, RIF token is trading at $0.108569. This means an increase of 31.48 percent in the last 24 hours. It also represents a significant price increase of 69.28 percent over the last 7 days. This increase in value indicates increased interest in RIF as a result of Binance’s latest offering. cryptokoin.com As we reported, RIF offers open-source, decentralized tools and technologies that make it easy to build accessible DeFi products.
Binance’s latest offering is poised to open new doors for traders, and the increase in RIF’s value indicates strong interest from the market. As the cryptocurrency world continues to evolve, Binance remains at the forefront by providing innovative solutions that meet the needs of its ever-expanding user base. Stay tuned for more developments in the world of cryptocurrency trading with Binance.
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