Binance Futures is set to introduce the USDC-margined ORDI Perpetual Contract. Scheduled for launch on February 22, 2024, at 07:00 (UTC), this addition aims to elevate the trading experience for ORDI enthusiasts.
Binance Futures will offer an impressive leverage of up to 75x, allowing traders to place high-risk, high-reward trades.
Introducing the ORDIUSDC Perpetual Contract will enable traders to leverage the USDC’s stability against ORDI’s potential volatility and growth prospects. The contract features a tick size of 0.001 and a balanced funding rate capped between +2.00% and -2.00%.
Moreover, the new ORDI contract ensures fairness and stability in the market through its funding fee settlement, occurring every four hours. The option of maximum leverage at 75x indeed presents a lucrative yet high-risk opportunity for adept traders. Consequently, they can maximize their gains by strategically navigating market movements.
Amidst the announcement, the ORDI token is currently showcasing a bullish trend, evidenced by a cup with handle pattern on the daily chart. This pattern indicates the potential for significant price movement. The critical neckline of this pattern is at $72.33, which promises a bright outlook if ORDI can surpass it.
“If momentum persists, ORDI could aim for a 30% gain, targeting $91.80,” pseudonymous trader Elodie said.
In a separate development, traders should also note Binance’s upcoming changes to leveraged tokens. Trading and subscription services for trading pairs such as BNBUP/USDT, BNBDOWN/USDT, ETHUP/USDT, ETHDOWN/USDT, BTCUP/USDT, and BTCDOWN/USDT will halt on February 28, 2024.
The platform will subsequently terminate redemption services and delist these leveraged tokens on April 3, 2024.
Source: beincrypto.com
Binance Futures is set to introduce the USDC-margined ORDI Perpetual Contract. Scheduled for launch on February 22, 2024, at 07:00 (UTC), this addition aims to elevate the trading experience for ORDI enthusiasts.