Binance Introduces Worldcoin Futures, Offering Traders Up to 20x Leverage

Coinspeaker
Binance Introduces Worldcoin Futures, Offering Traders Up to 20x Leverage

Binance, the world’s largest crypto exchange, has expanded its futures market with the addition of Worldcoin WLD $2.04 24h volatility: -0.2% Market cap: $988.46 M Vol. 24h: $317.59 M perpetual contracts, allowing traders to leverage up to 20 times their investment.

Starting from Wednesday, October 2, traders can access the WLD/USDT perpetual futures on the Binance platform at approximately 10:00 UTC, enabling users to speculate on the future price movements of the digital asset without the need to hold the underlying asset. The contract offers leverage from 1x to 20x, catering to both conservative and high-risk traders looking for potential returns in a volatile market.

With this addition, Binance continues to strengthen its position as a global leader, offering a wide range of products to its 200 million user base. The exchange has been steadily expanding its futures offerings to include a diverse array of digital assets, in response to a growing demand from traders seeking to maximize their exposure to the crypto market.

Binance disclosed that the WLDUSD COIN-M perpetual contract will have a tick size of 0.0001. To manage the risks associated with leveraged trading, the exchange has introduced several precautionary measures. One of these safeguards is a funding rate cap of 0.75%, which limits the cost of holding a position.

Additionally, the funding fees will be settled every eight hours, giving traders regular updates on their positions and helping them make well-informed decisions.

The exchange also mentioned that it might change tick size, along with other parameters such as funding fees, margin requirements, and leverage settings in response to shifts in the market.

“Based on market risk conditions, Binance may adjust the specifications of the aforementioned futures contract(s) from time to time, which include the funding fee, tick size, maximum leverage, initial margin, and/or maintenance margin requirements,” the company said.

Despite the precautionary measures, Binance announced that the WLDUSD COIN-M perpetual contract will not be coming with multi-asset support.

Meanwhile, the launch of the WLDUSD COIN-M perpetual contract comes at a time when the underlying digital asset is eyeing recovery following a broader trend in the industry after many weeks of market turbulence. According to reports, WLD may likely trade around $4 in the near future. The token has recorded a weekly gain of 27% on Friday.

However, this prediction may seem far-fetched as its daily performance has been on the fence in the last 24 hours. WLD has shedded nearly 4% of its value at the time of writing, currently trading around $2.07.next

Binance Introduces Worldcoin Futures, Offering Traders Up to 20x Leverage