Launch Date: Binance will launch the WLDUSD COIN-M perpetual contract on October 2, 2024, at approximately 10:00 UTC.
Leverage: Traders can utilize leverage up to 20x on this contract, allowing for significant potential returns.
Funding Rate Cap: The contract features a 0.75% funding rate cap and regular settlements every eight hours.
Binance, the world’s largest cryptocurrency exchange, is expanding its futures market by adding Worldcoin (WLD) perpetual contracts. This new product enables traders to speculate on the price movements of WLD without needing to hold the underlying asset, making it accessible to a broader audience.
Features of the WLDUSD COIN-M Perpetual Contract
Trading Pair: WLD/USDT
Tick Size: The contract will have a tick size of 0.0001.
Risk Management: To manage risks associated with leveraged trading, Binance has implemented several safeguards, including the funding rate cap. This measure aims to limit the costs incurred when holding positions.
Market Context
The introduction of these futures contracts comes as the digital asset market shows signs of recovery after a tumultuous period. Analysts predict that WLD could trade around $4 in the near future, reflecting optimism among traders. The token recently recorded a 27% weekly gain, although it experienced a 4% drop in the last 24 hours, currently trading at approximately $2.07.
Binance’s Strategic Move
By launching the WLDUSD COIN-M perpetual contract, Binance continues to strengthen its position as a leader in the crypto trading space, catering to the diverse needs of its 200 million user base. This addition aligns with the exchange’s strategy to expand its range of products, reflecting the growing demand for cryptocurrency trading options.
Conclusion
With the new WLD perpetual contracts, Binance is providing traders with the opportunity to engage with Worldcoin in a leveraged environment, potentially enhancing their exposure to market fluctuations while implementing precautionary measures to safeguard their investments.
