Cryptocurrency exchange Binance continues to expand its trading options. Starting from August 29, 2024, users will be able to trade the new CHESSUSDT perpetual contract with a leverage ratio of 75x.
High Leverage Trading Opportunity
The new CHESSUSDT futures contract allows users to utilize leverage up to 75 times. However, it is important to remember that high leverage ratios also bring potential risks. Therefore, investors should carefully review their risk management strategies. The contract’s funding fee adjustments every four hours and the maximum funding rate set at +2.00%/-2.00% require users to closely monitor their transaction costs.
Support for Multi-Asset Mode
Binance Futures also supports the Multi-Asset Mode for the new contract, allowing users to use different assets as collateral. For example, users can use BTC as collateral to trade the CHESSUSDT perpetual contract. This feature provides flexibility to investors, allowing them to manage their portfolios more effectively.
Market Reaction
Following the announcement, the price of the cryptocurrency CHESS saw a rapid increase by 30%, reaching $0.21.
The development of trading opportunities on Binance continues to attract investor attention. The new CHESSUSDT contract with high leverage and support for Multi-Asset mode offers users more flexibility and options for managing their investments.
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