Binance has announced a change in funding rate intervals for perpetual contracts NKNUSDT and BROCCOLIF3BUSDT, reducing them from eight to four hours. This change aims to control market volatility.
Funding Rate Changes at Binance
Starting at 16:00 Beijing time, funding rates for NKNUSDT and BROCCOLIF3BUSDT contracts now settle every four hours instead of eight. Binance confirmed that the rate limits remain constant at ±2.00%. This change is intended to enhance market responsiveness and ensure liquidity.
Historical Funding Intervals and Market Stability
Past changes to funding intervals during volatile phases have shown that they help exchanges mitigate excessive leverage risks, showcasing proactive measures to maintain market stability.
Current Situation with NKN and the Overall Market
Currently, NKN trades at $0.05 with a market cap of $35.68 million. In the last 24 hours, the price of NKN surged by 89.87%. However, over the last 90 days, there has been a 43.12% decline, indicating downward trends.
The changes in funding rate intervals are new but aimed at minimizing volatility and enhancing market stability. Binance continues to monitor market conditions and adapt its strategies to mitigate risks.
