Safe (SAFE) crypto token has skilled a notable worth rally, rising over 70% throughout the previous week. This substantial increase is attributed to the current Binance information. The cryptocurrency trade will introduce the SAFEUSDT perpetual contract on October 25, providing as much as 75x leverage for merchants.
Binance Introduces SAFEUSDT Perpetual Contract with 75x Leverage
According to current Binance information, the trade is increasing its vary of leveraged buying and selling choices by including the SAFEUSDT perpetual contract. This new product permits merchants to take part with as much as 75x leverage, considerably growing the potential features and dangers. The crypto exchange group shared that the launch would happen on October 25 at 12:30 UTC, opening up extra buying and selling flexibility for customers.
The SAFEUSDT perpetual contract is USD-margined, that means customers can commerce utilizing USDT because the settlement asset. This contract’s launch will improve customers’ expertise by permitting higher-leverage buying and selling on the Safe (SAFE) crypto token 24/7.
Additionally, the perpetual contract will embrace a tick measurement of 0.0001, an ordinary format to facilitate seamless buying and selling. The contract’s funding price is capped at +2.00% or -2.00%, with funding charges settled each 4 hours to take care of buying and selling equilibrium. These funding intervals assist steadiness the pricing between lengthy and quick positions, accommodating the market’s volatility whereas minimizing buying and selling disruptions.
In addition to excessive leverage, Binance is providing Multi-Assets Mode for the SAFEUSDT perpetual contract, which permits customers to make use of different cryptos as collateral. This strategy, permits merchants to make use of BTC and different eligible property as margins. This characteristic will improve liquidity and attraction to extra customers, particularly these managing diversified portfolios.
SAFE Price Sees Major Uptick
Following the Binance information, SAFE Price has seen a substantial rally, with the token climbing over 70% throughout the previous week. At the time of the announcement, SAFE Price was buying and selling at $1.64, representing a 20% enhance within the final 24 hours. With an 82.92% rise in buying and selling quantity, the asset has continued to draw consideration from each new and present holders.
Moreover, the SAFE token rally follows a current listing on Upbit, certainly one of South Korea’s main crypto exchanges. This itemizing and at the moment’s Binance information have triggered a worth rally to over 100% within the final month. SAFE has seen elevated investor curiosity, with rising on-chain knowledge indicating additional shopping for stress.
Similarly, one other meme token, Moo Deng (MOODENG), saw a 90% worth spike following its Binance futures itemizing with as much as 75x leverage. Coupled with a capped funding price of +2.00% / -2.00%, the itemizing drove MOODENG worth to $0.1388 intraday.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with 4 years {of professional} expertise, having contributed considerably to varied media shops on cryptocurrency traits and applied sciences. With over 4000 printed articles throughout numerous media shops, he goals to tell, educate and introduce extra individuals to the Blockchain and DeFi world. Outside of his journalism profession, Ronny enjoys the joys of motorbike driving, exploring new trails and landscapes.
Disclaimer: The introduced content material might embrace the private opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability on your private monetary loss.
