Binance Futures has officially launched TRX/USDT perpetual contract today, the exchange said on its twitter account.
“To prevent market manipulation, Binance will implement a pricing limit of ±1% on the mark price within the first 30 minutes after trading starts,” the firm added.
Like its pairs on the spot market, the TRX/USDT perpetual contract is priced in the same way.
The firm allows its customers to opt for 1x or 75x leverage, which indicates that traders who choose the highest leverage will hold 7,500 USDT equivalent of TRX through depositing collateral of 100 USDT.
There are other perpetual contracts provided by the exchange, such as BTC/USDT, ETH/USDT and BCH/USDT.
“Binance Futures offers a fast and stable platform that is designed by traders for traders. We have seen an increase in institutional participation in trading, and these professional traders seek out the most efficient ways to trade very quickly, both in terms of cost and performance,” said Binance CEO Changpeng Zhao.
TRX/USDT moved up 9.13% to $0.01589 over the last 24 hours, CryptoCompare data showed.
Traders should be aware that the derivatives market is full of risks so they may lose their funds when their transactions do not work out.