Today, Binance Futures platform launched the new LOKAUSDT perpetual contract with leverage up to 75x, offering users enhanced opportunities for trading and cryptocurrency investment.
Key Features of LOKA’s Contract
The new LOKAUSDT contract features a maximum funding rate of +2.00% / -2.00% initially. Funding fees will be reflected in traders' accounts every four hours, facilitating better position management. Binance reserves the right to modify the funding rate and other trading parameters, such as price steps, leverage limits, and margin requirements, to align with market risk assessments.
Market Reaction
In response to the announcement, the value of LOKA, associated with the League of Kingdoms Arena game, surged. CoinMarketCap data revealed a price spike of over 20%, reaching $0.2959 shortly after the news broke. As of the writing, the price of LOKA has pulled back slightly to $0.2791. However, trading volume has surged by 135%, hitting nearly $19 million. The key points of the new contract include maximum leverage of 75x, flexible funding rates and margin requirements, offering significant flexibility to traders. The overall market response has been positive, indicating strong interest and confidence in the platform's ability to provide lucrative trading opportunities.
Conclusion
The introduction of the LOKA perpetual contract on Binance Futures represents a strategic move to attract more active traders and further develop the cryptocurrency platform's offerings. The quick market reaction indicates substantial interest in the new opportunities, strengthening the company's reputation as a leader in cryptocurrency trading.
Binance's strategy focused on expanding trader capabilities is pivotal amid increasing regulatory pressures on cryptocurrency exchanges. The new contract launch reflects the company's commitment to maintaining its competitive edge in the market.
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