Binance Futures has expanded its trading options by introducing a new perpetual futures contract for the Solana Name Service token, FIDA. This initiative aims to improve the trading experience for users, offering them a broader selection of choices. Starting today, traders can engage in FIDAUSDT perpetual contract transactions, unlocking new investment opportunities.
What Are the Details of the FIDA Contract?
Trading for the FIDAUSDT perpetual contract begins at 18:30 GMT, allowing users to leverage their investments up to 75 times. This move underscores Binance Futures’ dedication to enhancing financial opportunities for its users. While such high leverage can yield substantial profits, it also carries increased risks. As a result, Binance Futures encourages traders to approach these contracts with care and to focus on effective risk management strategies.
The funding rate for this contract is set at +/- 2.00%, with recalculations taking place every four hours, impacting traders’ open positions. This rate aligns with standard practices for perpetual contracts, creating a familiar setting for users.
How Did the Market React to the FIDA Listing?
The introduction of FIDA futures has significantly increased the market activity surrounding the altcoin. Following Binance's announcement, FIDA's price surged by over 40%, reaching $0.3297. This notable rise demonstrates the market's enthusiastic reaction to the new trading option.
Additionally, FIDA’s trading volume experienced a remarkable increase, soaring by 277.69% to $20.52 million. This spike indicates a growing interest and engagement among investors following the contract's launch.
Key takeaways from the article include:
- Binance Futures offers up to 75 times leverage with the new FIDAUSDT contract.
- The funding rate is set at +/- 2.00% and recalculated every four hours.
- FIDA’s price increased by more than 40% after the announcement, reaching $0.
