Are you a Futures derivative trader? Do you take your futures trades using the Binance futures trading platform? Then there is a piece of great news for you, as Binance will be adding the MBSV USDT trading pair to their derivatives trading platform.
Binance Futures’ Upcoming Launch of M BSV Perpetual Contract.
Binance Futures, a highly liquid derivatives market in the cryptocurrency industry, has revealed its intention to launch a perpetual contract denominated in USDⓈ for Bitcoin SV (BSVUSDT) on October 20, 2023, at 12:30 (UTC). Notably, Binance had delisted the BSV spot trading pair back on April 15, 2019, and there are no plans to reinstate it. Nevertheless, with the upcoming BSVUSDT perpetual contract, Binance assures users that it will provide leverage of up to 50x.
Further Details Regarding the Perpetual Contract for USDⓈ-M BSV
This contract’s underlying asset is BSV, which stands for Bitcoin Satoshi’s Vision, often referred to as Bitcoin SV, and its settlement asset is USDT. Bitcoin SV originated in 2018 as a result of a hard fork from the Bitcoin Cash blockchain, which itself emerged as a hard fork of the original Bitcoin blockchain.
This contract boasts a tick size of 0.01, allowing for efficient and easy trading. The contract features a maximum capped funding rate of +2.00% / -2.00%, with funding fees settled approximately every four hours. Binance states that users can trade this contract around the clock, and leverage up to 50 times their investment. Additionally, the contract supports Multi Assets Mode, providing users with a more diverse trading experience.
Read also: SEC Continues Evaluation of Bitcoin ETF Proposals While Grayscale Lawsuit Persists
October witnessed a notable surge in interest in Bitcoin SV, as the cryptocurrency’s price experienced significant growth. As of October 19, the coin was trading at approximately $43, following considerable price fluctuations in previous months. It had primarily traded within a range of $32 to $34 over recent months, but it was showing strong growth as of October 2023.
At the time of writing, Bitcoin SV was valued at $52.28, representing a substantial 27.68% increase over the past 24 hours on October 20, 2023. This rise surpassed the previous monthly high of $43, attracting investors with the promise of potential future returns.
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