Exciting news for crypto traders and Web3 gaming enthusiasts! Binance, the world’s leading cryptocurrency exchange, is set to launch the OL/USDT perpetual contract on June 25 at 11:30 UTC. This highly anticipated listing supports up to 50x leverage, offering traders new opportunities to capitalize on the growing Web3 gaming sector.
What is the OL/USDT Perpetual Contract?
The OL/USDT perpetual contract is a derivative product that allows traders to speculate on the price of OL, the native token of Open Loot, without an expiration date. Key features include:
- Maximum leverage of 50x
- Settled in USDT
- No expiry date
- Available on Binance Futures
Why is Binance Adding OL/USDT?
Binance’s decision to list OL reflects the growing importance of Web3 gaming in the crypto ecosystem. Open Loot is a prominent Web3 gaming platform that enables true digital ownership of in-game assets. The addition of OL/USDT provides:
- Enhanced liquidity for OL traders
- More trading options for gaming token enthusiasts
- Opportunities to hedge positions in the Web3 gaming sector
How to Trade OL/USDT on Binance
Trading the OL/USDT perpetual contract requires a Binance Futures account. Follow these steps:
- Log in to your Binance account
- Navigate to the Derivatives section
- Select USDⓈ-M Futures
- Search for OL/USDT
- Set your leverage (up to 50x)
- Place your order
Risks and Considerations
While 50x leverage offers significant profit potential, it also increases risk exposure. Traders should:
- Understand perpetual contract mechanics
- Use proper risk management strategies
- Be aware of funding rates
- Monitor liquidation prices carefully
The Future of Web3 Gaming Tokens
Binance’s listing of OL/USDT signals growing institutional interest in Web3 gaming projects. As blockchain gaming continues to evolve, we can expect:
- More gaming token listings on major exchanges
- Increased derivative products for gaming assets
- Greater integration between DeFi and gaming ecosystems
The OL/USDT perpetual contract listing on Binance represents a significant milestone for both crypto traders and the Web3 gaming community. With 50x leverage available, traders have new tools to engage with this emerging sector, while Open Loot gains increased visibility in the broader crypto market.
Frequently Asked Questions
When will Binance list the OL/USDT perpetual contract?
The OL/USDT perpetual contract will be available on Binance starting June 25 at 11:30 UTC.
What is the maximum leverage for OL/USDT?
Binance will support up to 50x leverage for the OL/USDT perpetual contract.
What is Open Loot (OL)?
Open Loot is a Web3 gaming platform that uses OL as its native token for in-game transactions and governance.
Do I need a separate account to trade perpetual contracts?
Yes, you need a Binance Futures account to trade the OL/USDT perpetual contract, separate from your spot trading account.
What are the risks of trading with 50x leverage?
High leverage amplifies both potential profits and losses, increasing the risk of liquidation if the market moves against your position.
Will there be a trading competition for OL/USDT?
Binance has not announced any trading competitions for OL/USDT at this time, but they frequently host such events for new listings.
