Binance futures platform adds XRP with leverage up to 75x
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Answer Binance futures platform adds XRP with leverage up to 75x
Binance Futures, a cryptocurrency futures trading platform, has launched a perpetual futures contract for the cryptocurrency XRP.
The Ripple contract is paired with the fixed currency “Tether” and offers a leverage of up to 75 times, according to to announce On the official Binance blog yesterday.
The XRP/USDT contract appears to be the first such contract on the platform.
Already there are cryptocurrency exchanges such as Delta and BaseFEX that offer the ability to trade XRP perpetual contracts.
The Binance futures platform was launched last September, and it currently offers three contracts other than Ripple as follows:
Bitcoin, Bitcoin Cash and Ethereum contracts are all linked against the USDT fixed currency.
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Binance platform provides maximum leverage of up to 125 times.
Mr. Changpeng Zhao, better known as CZ, CEO of Binance recently stated that leverage has increased due to the growth of institutional participation. He stated:
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These professional traders are looking for the most effective way to trade very quickly, both in terms of cost and performance.
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