According to the published announcement Binance Futures will launch the highly anticipated USDT-M ETHW Perpetual Contract on November 28, 2023. With an impressive leverage of up to 50x, this addition to the Binance Futures portfolio offers exciting opportunities for investors looking for greater flexibility and potential returns.
After the announcement EthereumPoW (ETHW) price skyrocketed within a few hours. At press time, EthereumPoW (ETHW) price was trading at $2.93 and 24-hour trading volume was $99.3 million. This represents a gain of 14.62% in the last 24 hours and an increase of 81.14% in the last 7 days. This makes ETHW one of the top earners on the list.
In addition, Binance is marking another perpetual contract listing right after the launch of the USTCUSDT perpetual contract with almost similar features
Binance Futures ETHW Features and Offers
The underlying asset of the contract is ETHW (Ethereum proof of work) and the settlement asset is USDT. This perpetual contract operates 24/7, providing investors with constant opportunities to participate in the market. The tick size is 0.001 and offers precision in executing the trade.
One notable feature of the Permanent Contract is the capped funding rate. The capped funding rate will range from +2.00% to -2.00%. This rate, determined every four hours, adds an element of predictability to trading strategies. Trading enthusiasts will also enjoy 24/7 trading hours that allow for global market participation.
To provide sample liquidity to liquidity providers, qualified USDT margin futures providers are in a transaction. When trading the USDT-M Contract, a 0.005% maker fee will be refunded for approximately 14 to 15 days.
After the relevant incentive period, the platform determines maker fee refunds for qualifying USDT margin futures in the promotion. The platform will distribute rewards based on the user’s tier in the USDT-margin Futures Liquidity Provider Program. This incentive aims to increase liquidity and recognize active market participants.
One of the standout features is the multi-asset mode, which allows users to trade the ETHWUSDT Contract across a variety of margin assets. Imagine using Bitcoin as margin when participating in ETHWUSDT transactions; This means flexibility and diversification in one seamless experience.
Adapting to Market Dynamics
Binance has created a huge stir in the crypto community by listing a series of tokens specifically available for futures trading. Tokens including KAS, BSV, PYTH, BONK, ORBS, BIGTIME, TOKENFI, and ETHW have quickly become the latest sensation following their recent listing on Binance.
Market analysts suggest that the main driving force behind this strategic decision lies in the ability to generate compensation without taking on unnecessary responsibilities. Known for their solid risk tolerance, contract users are immune to market fluctuations and offer a lucrative way to earn fees. In contrast, spot users, accustomed to a more stable market, often express their displeasure during price declines.
Koinfinans.com As we have reported, it is very important to remember that the contract is subject to market changes depending on market conditions. Changes may include funding fees, tick sizes, maximum leverage and collateral requirements. Investors are advised to stay updated with the latest announcements for any adjustments.
With the launch of the USDT-M ETHW Perpetual Contract, Binance Futures not only offers a cutting-edge trading instrument, but also offers traders a dynamic and flexible platform.