Binance, one of the world’s leading cryptocurrency exchanges by trading volume, has announced the launch of perpetual futures contracts for NEIROUSDT and 1MBABYDOGEUSDT, offering traders leverage of up to 75x.
When Do the New Futures Contracts Begin?
According to the official statement from Binance, trading for the NEIROUSDT perpetual futures contract will commence today, September 16, 2024, at 14:30 UTC. Shortly after, the 1MBABYDOGEUSDT contract will become available at 14:35 UTC.
What Are the Details of These Contracts?
The initial maximum funding rate for these futures contracts is set at +/- 2%. Funding fees will be calculated and settled every four hours, ensuring regular adjustments that reflect market conditions.
Binance emphasized that the NEIROUSDT perpetual futures contract is associated with the “First Neiro On Ethereum” (NEIRO) token, bearing the contract address 0x812ba41e071c7b7fa4ebcfb62df5f45f6fa853ee. This clarification is important to distinguish it from the NEIROETH perpetual futures contract listed on September 6, 2024, which has a different contract address. The exchange aims to prevent any confusion between these two distinct NEIRO tokens.
Previous announcements by Binance about listing NEIRO, BABYDOGE, and TURBO on its spot market have significantly influenced the prices of these altcoins. The introduction of perpetual futures contracts for NEIRO and BABYDOGE has further accelerated their upward price movements.
Key Takeaways
- NEIROUSDT and 1MBABYDOGEUSDT futures offer leverage up to 75x.
- Trading for these contracts begins on September 16, 2024, at specified times.
- Maximum funding rate at launch is set at +/- 2%, with fees settled every four hours.
- The NEIROUSDT contract is linked to a specific NEIRO token on Ethereum, distinct from other NEIRO tokens.
- Announcements have led to substantial price increases for NEIRO and BABYDOGE.
As of this report, NEIRO is trading at $0.0003244, reflecting an increase of over 600%, while BABYDOGE has climbed by more than 60% to $0.000000001682.