Binance, the giant name of the cryptocurrency markets, continues to expand the transaction options it offers to its users. With the launch of the KDAUSDT Perpetual Contract on the Binance Futures platform on September 18, 2024, a brand new opportunity will be presented to investors. This contract, based on the Kadena (KDA) asset, draws attention with its leverage of up to 75 times. We have compiled all the details about this contract, which is an exciting development for both experienced investors and those new to the market, for you.
What is Kadena (KDA)?
Kadena is a blockchain platform that prioritizes scalability and security. Offering fast and low-cost solutions suitable for developers and businesses, Kadena has become an attractive option especially for companies that need large transaction volumes. Drawing attention with its innovations in blockchain technology, Kadena is increasingly attracting attention in the cryptocurrency world with its rapidly growing user base and increasing areas of use.
Binance launches perpetual futures contract
Binance Futures will launch the KDAUSDT Perpetual Contract on September 18, 2024 at 13:30 UTC to provide its users with a wider range of investment options. This new contract is a USDT-denominated perpetual futures contract for the Kadena (KDA) asset, offering up to 75x leverage. This means that traders will have the opportunity to trade 75 USDT worth of 1 USDT. The key features of the KDAUSDT Perpetual Contract are as follows:
- Trading Asset: Kadena (KDA)
- Asset in Exchange: USDT
- Minimum Trading Unit: 0.0001
- Maximum Leverage: 75x
- Funding Fee: +2.00% / -2.00% (every 4 hours)
- Trading Hours: 24/7
- Multi-Asset Mode: Supported
With this contract, crypto investors will have the opportunity to make huge profits by taking advantage of market fluctuations. However, the risks of using high leverage should not be forgotten. Investors should note that funding fees will be charged every four hours and the maximum funding rate is initially +2.00% / -2.00%.
Kadena price jumps
The Multi-Asset Mode on Binance Futures allows traders to trade the KDAUSDT perpetual contract with different margin assets. For example, when this mode is activated, traders can use other assets such as BTC as margin. This flexibility offers a significant advantage for users looking to diversify their portfolios. Immediately after Binance announced the KDAUSDT perpetual contract, Kadena price experienced a major jump. According to market data, Kadena (KDA) gained 37.6% in value in just 1 minute due to the impact of the announcement, reaching $0.64. This sudden price movement shows that investors are increasingly interested in Kadena and Binance’s new contract has a positive impact on the market.
It is anticipated that this rise in Kadena price may gain further momentum with the official launch of the KDAUSDT perpetual contract. High leverage transactions can increase volatility in the market and cause prices to change rapidly. Therefore, it is very important for investors to carefully manage their risks and constantly monitor market conditions.
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