Binance, the world’s largest cryptocurrency exchange, announced two important developments: its support for Optimism and Arbitrum network upgrades and Hard Forks, and the launch of new METISUSDT and WLDUSDC Perpetual Contracts offering up to 50x leverage.
Optimism and Arbitrum network upgrades
Optimism (OP) network upgrade and Hard Fork will take place on March 14, 2024 at 03:00. Binance will temporarily suspend token deposits and withdrawals on the OP network starting at 02:00 on March 13, 2024. Arbitrum (ARB) network upgrade and Hard Fork will take place on March 14, 2024 at 12:00 PM.
Binance will stop token deposits and withdrawals on the ARB network starting at 11:00 AM on March 14, 2024. Binance will manage all technical requirements to ensure a smooth transition for its users. Once the upgrades are complete, Binance will reopen deposits and withdrawals for tokens on the OP and ARB networks.
New contracts with 50x Leverage
Binance Futures will list the METISUSDT Perpetual Contract on March 12, 2024 at 11:30 AM and the WLDUSDC Perpetual Contract on March 14, 2024 at 10:00 AM. Both contracts will offer up to 50x leverage. Qualifying USDⓈ margin futures liquidity providers will be able to benefit from 0.005% maker fee discounts on the METISUSDT Perpetual Contract.
Users will be able to benefit from a 10% promotional transaction fee discount for all transactions in USDC margin futures contracts until 03-04-2024 15:30. Binance may change contract specifications depending on market risk conditions. Multi-Asset Mode allows users to trade using BTC as collateral.
These moves by Binance show that the cryptocurrency exchange is determined to keep up with the latest technological developments and offer the best trading experience to its users. Support for Optimism and Arbitrum network upgrades and Hard Forks will drive the adoption and growth of these networks. The launch of new contracts with 50x leverage will offer traders more flexibility and the opportunity to potentially earn higher profits. These developments by Binance are expected to have a significant impact on the cryptocurrency market.
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