Binance Futures has announced the inclusion of Voxies (VOXEL) in its list of futures contracts, expanding its trading options for users. This move aims to enhance the trading experience by offering more choices. Following the announcement, Voxies’ price saw a significant surge.
VOXELUSDT Futures Launch Details
According to Binance Futures, the VOXELUSDT Perpetual Contract will be available for trading starting today, August 20, 2024, at 13:30 Turkish time. Investors using this contract can employ leverage up to 50x, allowing for more substantial positions with a smaller initial margin.
The VOXELUSDT contract will be USDT-margined, meaning it has no fixed expiration date and positions can remain open indefinitely. This feature suits investors who prefer volatility-sensitive and high-risk strategies. However, high leverage also increases the potential for loss.
Immediate Market Reaction
The announcement from Binance Futures triggered a sharp increase in the price of VOXEL. Prior to the news, Voxies were trading at around $0.15. Post-announcement, the price soared to $0.243, marking an impressive rise of over 60 percent.
Practical Implications for Investors
Key Insights for Traders:
- VOXELUSDT contract offers leverage up to 50x.
- USDT-margined perpetual contracts have no expiration date.
- High leverage can lead to substantial gains but equally high risks.
- Initial funding rate for VOXELUSDT is set at +/- 2%.
- Funding rates are recalculated every four hours.
Conclusion
Binance Futures’ addition of Voxies to its futures list is a strategic expansion aimed at providing more diversified trading options. The immediate market response, evidenced by the sharp rise in VOXEL’s price, indicates strong investor interest and potential for high volatility trading.