In an exciting development for cryptocurrency investors, Binance Futures is preparing to introduce the USDⓈ-M ORBS perpetual futures contract with up to 20x leverage. The new trading option is set to revolutionize the cryptocurrency world. It also offers investors advanced opportunities in the ever-evolving cryptocurrency world. Here are the details…
Binance made an announcement for altcoin ORBS
Binance made a new announcement for the altcoin ORBS, which has been on the agenda lately. According to the exchange’s statement, ORBS permanent futures contract is being prepared. This contract in particular is expected to provide up to 20x leverage. You can find all the details of the contract in the list below:
- Launch Time: The ORBSUSDT Perpetual Contract will go live at 06:00 UTC on October 17, 2023, allowing investors to immediately benefit from this innovative opportunity.
- Underlying Asset: The contract is based on the ORBS cryptocurrency and is an exciting addition to Binance Futures’ product portfolio.
- Consensus Asset: The contract will be settled in USDT, providing investors with a stable asset for effective risk management.
- Teak Size: Traders can expect precision in their trades, with a tick size of 0.00001 allowing for fine-tuned strategies.
- Capped Funding Rate: The contract has a capped funding rate of +3.00% / -3.00% and helps ensure stability and predictability in trading.
- Funding Fee Frequency: Funding fees will be paid every four hours, allowing efficient cost management in the ever-changing cryptocurrency market.
- Maximum Leverage: With a maximum leverage of 20x, investors can strengthen their positions and potentially increase their profits.
- Trading Hours: The ORBSUSDT Perpetual Contract will be available for trading 24/7, providing investors with the flexibility to participate at any time.
- Multi-Entity Mode: Binance Futures will support multi-asset mode, allowing traders to use a variety of margin assets, subject to applicable haircuts, when trading the ORBSUSDT Perpetual Contract.
The rise of ORBS and the influence of DWF Labs
Recently ORBS has gained prominence primarily due to the actions of DWF Labs. cryptokoin.com As we reported, specifically, on October 15, DWF Labs deposited 15 million ORBS (equivalent to $676,500) into Bithumb, according to data tracked by The Data Nerd. This deposit follows on the heels of previous transfers, bringing DWF Labs’ ORBS holdings on the exchange to 41.1 million and the current value to approximately $1.86 million. The price of ORBS has increased by over 40 percent since DWF Labs initiated these transfers to its trading platform, underlining the impact such large deposits have on cryptocurrency markets. Now the coin is changing hands at $0.052, an increase of 33 percent.
The launch of the USDⓈ-M ORBS contract on Binance Futures is expected to further increase interest in ORBS and add a new dimension to the cryptocurrency trading landscape. As with any trading opportunity, investors are advised to conduct thorough research and manage their risks effectively.
To be informed about the latest developments, follow us Twitter’in, Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.