Get ready, traders! The world’s leading crypto exchange, Binance, is expanding its offerings once again. If you’re involved in crypto trading, you’ll want to pay close attention to two new perpetual contracts set to launch soon.
What New Perpetual Contracts Are Coming to Binance?
Binance has officially announced the listing of two new USD$T-margined perpetual contracts:
- ZKJ/USDT Perpetual Contract
- SKYAI/USDT Perpetual Contract
These listings provide traders with more avenues to speculate on the price movements of these specific tokens using leverage.
When Can You Start Trading ZKJ USDT and SKYAI USDT?
Mark your calendars for Monday, May 13, 2024. The listings will happen sequentially:
- The ZKJ/USDT perpetual contract goes live at 09:30 UTC.
- The SKYAI/USDT perpetual contract follows shortly after at 09:45 UTC.
This staggered release gives traders a brief window between the two launches.
Understanding the Leverage on These New Contracts
Leverage is a powerful tool in perpetual contract trading, allowing you to control a large position with a relatively small amount of capital. However, it also significantly increases risk. Binance is offering different maximum leverage levels for these new contracts:
- ZKJ/USDT: Up to 25x leverage
- SKYAI/USDT: Up to 50x leverage
The higher leverage offered on SKYAI/USDT means potentially larger gains, but also a much higher risk of liquidation if the market moves against your position. It’s crucial to understand the mechanics and risks associated with trading perpetual contracts, especially when using high leverage.
Why Are New Perpetual Contracts Significant for Crypto Trading?
The addition of new perpetual contracts like ZKJ USDT and SKYAI USDT is important for several reasons:
- Increased Trading Opportunities: Traders gain exposure to new assets without needing to hold the underlying tokens directly.
- Liquidity: Listings on a major exchange like Binance typically bring increased liquidity to the listed assets.
- Price Discovery: Perpetual contracts contribute to the overall price discovery process for ZKJ and SKYAI.
- Hedging & Speculation: These contracts offer tools for both speculating on future price movements and potentially hedging existing spot positions.
While the potential for profit with leverage is appealing, it’s vital to approach these instruments with caution. Leverage magnifies both gains and losses. New traders should start with low leverage or practice on demo accounts before committing significant capital.
Key Takeaways Before Trading
- Binance lists ZKJ/USDT and SKYAI/USDT perpetual contracts on May 13.
- ZKJ/USDT starts at 09:30 UTC with up to 25x leverage.
- SKYAI/USDT starts at 09:45 UTC with up to 50x leverage.
- Perpetual contracts involve significant risk, especially with high leverage.
- Ensure you understand the contract specifications and funding rates before trading.
The introduction of ZKJ USDT and SKYAI USDT perpetual contracts on Binance adds more options for traders navigating the dynamic crypto market. As always, conduct your own research and consider your risk tolerance before engaging in leveraged trading.
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