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ZEC/USDT Perpetual Contract Now Live on Binance Futures

ZEC/USDT Perpetual Contract Now Live on Binance Futures
  • The futures platform from the Binance exchange is getting ready to launch its own Zcash–Tether perpetual contract with leverage set to be up to 50x. 
  • This comes with an announcement made by Binance early this week. 

The futures platform from the Binance exchange is getting ready to launch its own Zcash–Tether perpetual contract with leverage set up to be around 50x. This comes with an announcement made by Binance early this week. They revealed that trading for the new ZEC/USDT contract went live earlier today at 8am. This has been done in order to prevent market manipulation. The platform has said that it chose to set a pricing limit of ±1% on the marked price within the first 15 minutes after trading is launched on the exchange.

When the Binance futures platform was launched, the exchange was very adamant on offering traders access to an insurance bond that can confidently help to limit the chances of auto-delivery. The CEO of the platform, Changpeng Zhao and said that the futures have drawn significant interest from institutional players all over the globe. Many professional traders driving the need to introduce ways to help support quick and efficient trades in the industry.

When you look at traditional futures contracts, the Binance option is very different. There isn’t an expiration or settlement date for these kinds of contracts. Depending on the determined settlement time for traditional futures contracts, the settlement has said that the price discrepancies for the spot and futures markets has a lot of potential to be greater than how it currently stands.

“The perpetual contract is an attempt to take advantage of a futures contract [...] while mimicking the behavior of the spot market in order to reduce the price gap between the futures price and the mark price. This is a marked improvement compared to the traditional futures contract, which can have prolonged or even permanent differences versus the spot price.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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