Binance Binance Futures, the exchange’s derivatives trading platform, is set to expand its offerings with the launch of the USDC-margined DOGE Perpetual Contract on January 18. This new trading option will offer users the opportunity to execute Dogecoin (DOGE) trades with up to 75x leverage.
The USD-M DOGE Perpetual Contract will be settled in USDC and will have a tick size of 0.00001. According to the latest announcement, funding fee payments will occur every eight hours, with a capped funding rate of +0.3750% / -0.3750%. Trading in DOGEUSDC Perpetual Contract, cryptocurrency will be available 24/7 to address the global nature of the market.
Also, a notable feature is the Multi-Presence Mode. It will enable users to trade the DOGEUSDC Perpetual Contract across multiple margin assets. This feature allows traders to use various assets such as Bitcoin (BTC) as margin when trading subject to applicable fees.
It is also worth noting that Binance Futures offers a 10% promotional trading fee discount on all transactions on USDC collateralized futures contracts to encourage adoption. The discount will be valid until April 3.
This move expands trading options on Binance Futures and the discount makes the DOGEUSDC Perpetual Contract even more attractive. dogecoin Investors are eagerly awaiting the launch of the USDC margin DOGE Perpetual Contract to capture potential trading opportunities.
However, users should remain vigilant as Binance reserves the right to adjust contract specifications based on market risk conditions. This can affect a variety of factors such as funding fees, tick size, maximum leverage, initial margin and maintenance margin requirements.
Will Dogecoin Price Drop Below $0.080?
Koinfinans.com As we reported, Dogecoin, the most popular meme coin, recorded significant declines this week. DOGE is currently trading near the $0.080 level and the crypto could decline below it given the recent bearish trend. At press time, DOGE price was down 0.46% to $0.08058 on Wednesday, January 17.
The market value of Meme coin decreased by 0.46% to $11.49 billion. In contrast, transaction volume increased by 19.86% to $324.95 million. Earlier, crypto witnessed a rally last week after Elon Musk reaffirmed his support for DOGE, declaring that he still has a significant stake in crypto.