In a wave of announcements related to its futures trading platform, Binance announced through its Twitter on Wednesday, January 15 the launch of the perpetual contracts of Ethereum Classic. Like the XRP, EOS and TRX contracts, Ethereum Classic contracts can be leveraged 75 times and will be combined with the USDT token.
Betting on the future
Binance has been making several announcements that involve new crypto bonds in its futures trading platform, Binance Futures. This morning, January 15, the exchange published on his Twitter:
– Binance (@binance) January 15, 2020
"Binance will launch perpetual ETC / USDT contracts with leverage up to 75 times."
The contracts will be available from 5:00 a.m. from January 16 (Brasilia time), and during the first 15 minutes Binance will not allow changes in value greater than 1% to avoid the manipulation of the perpetual Ethereum Classic contracts.
As with other contracts, the pair chosen for the perpetual contract was the stable USDT, issued by the controversial Tether. Binance Futures currently supports Bitcoin, Bitcoin Cash, Ethereum, XRP, EOS, Tron and now Ethereum Classic futures contracts.
Another feature that has been withheld from perpetual contracts is the 75x leverage common to the XRP, EOS and Tron contracts.
Although XRP appreciated 10% after the Binance announcement that involves support for perpetual contracts, it is difficult to say if the announcement had any impact on the value of Ethereum Classic, most likely not. This is because the cryptocurrency market in the last 48 hours has begun to overvalue and Ethereum Classic is one of the top 20 cryptocurrencies with the highest profits in this period.
Therefore, any variation (especially upwards) is difficult to link directly with the development announced by Binance.