Binance Futures Listing $DOGSUSD COIN-M Perpetual Contract

Bittime - Binance Futures recently announced the listing of the COIN-M perpetual contract for the $DOGSUSD pair.

For crypto traders, this is exciting news. But, what exactly is a COIN-M perpetual contract?

Binance Futures Listing $DOGSUSD COIN-M Perpetual Contract

Binance Futures will launch a new investment product in the form of the DOGSUSD COIN-M Perpetual Contract on September 10, 2024.

This contract will provide investors with the opportunity to trade with up to 20 times leverage against DOGS tokens, with immediate transaction settlement in the form of DOGS tokens.

This feature is very interesting for those who want to take speculative positions on DOGS token price movements.

Read Also: DOGS Airdrop and Listing that You Must Know

Why $DOGSUSD?

Binance Adds DOGS Futures Contract

Binance has announced the addition of futures contracts for DOGS tokens. The main features of this contract are a very precise measure of the smallest price change (tick size) and a funding limitation mechanism to control drastic price fluctuations. Funding fees will be calculated every eight hours.

Support for Innovative Tokens

By launching the DOGS futures contract, Binance further emphasizes its commitment to supporting various types of crypto assets, especially new and innovative tokens in the derivatives market.

Legislation Margin They

However, this DOGS futures contract has several limitations, one of which is that it does not support the cross-margin feature with other crypto assets.

This means that margin funds for this contract are separate and cannot be used to secure positions in other assets.

Standard Terms and Trading Potential

Binance also emphasized that DOGS futures contracts will follow the general rules and conditions applicable on their platform.

With the increasing popularity of the DOGS token, this futures contract is expected to attract the interest of traders who want to take advantage of profit opportunities from DOGS token price movements.

Read Also: DOGS Airdrop Distributes 40 Billion Tokens to 2.5 Million Users in 2 Days

Current DOGS Potential

Quoted from coincapter, in less than two days, DOGS has succeeded in distributing more than 40 billion tokens to more than 2.5 million users.

This mass distribution makes 93.95% of the total DOGS supply, which is around 516.75 billion tokens, immediately available for trading on major exchanges such as Binance and KuCoin.

Such a rapid surge in token supply and without a lockup period has the potential to trigger a significant sell-off in the market.

Conclusion

The listing of the $DOGSUSD perpetual contract on Binance Futures opens up new opportunities for traders to participate in the crypto market.

However, before you start trading, make sure you understand the risks involved and always do in-depth research.

How to Buy Crypto on Bittime

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To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

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