Binance Launches 75x Leverage for GRASS, DRIFT, and SWELL Perpetuals
- Linda HamiltonOriginal
- 2024-11-09 06:48:23431browse
Binance Futures announced the launch of GRASSUSDT, DRIFTUSDT, and SWELLUSDT perpetual contracts with leverage of up to 75x.
Binance Futures has announced the launch of perpetual contracts for Solana's GRASS, DRIFT, and SWELL tokens, offering leverage of up to 75x. These contracts went live on the platform, providing traders with increased exposure to the respective tokens. Among these listings, Solana's GRASS token surged by 14% after the announcement of its perpetual contract on Binance Futures.
Binance Futures Adds Solana's GRASS, DRIFT, SWELL Perpetuals With 75x Leverage
According to a recent announcement from Binance Futures, three new USD-margined perpetual contracts have been introduced for Solana's (SOL) GRASS, DRIFT, and SWELL tokens. These contracts enable traders to gain up to 75x leverage, allowing for increased exposure to these tokens.
The GRASSUSDT contract went live on the platform at 15:30 UTC, followed by DRIFTUSDT and SWELLUSDT at 15:45 and 16:00 UTC, respectively. These perpetual contracts are designed to attract more users to Binance Futures, expanding the available trading options on the platform.
The listing includes a capped funding rate of 2.00%/-2.00%, and a funding fee settlement frequency every four hours. These aspects cater to the preferences of high-leverage traders, forming a structured addition to Binance's range of crypto derivatives.
Solana's GRASS Token Surges 14% Amid Rising Interest, Trading Volume
Following the announcement of the GRASSUSDT perpetual contract, Solana's GRASS token experienced a 14% surge in its price, adding to its 170% rally over the past week. This increase is largely attributed to the rising interest and trading volume as users engaged with the 75x leverage offering on Binance Futures.
With a direct trading option now available for Solana GRASS with leverage, the exchange has positioned the token for greater attention within its community, especially among those actively engaged in the derivatives market on the platform.
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