- Binance is welcoming the Solana-based meme coin BOOK OF MEME (BOME).
- The change launched a USD margin perpetual contract with as much as 50x leverage for BOME.
- Binance’s resolution comes amid BOME hovering by over 1,198.68% in seven days.
Probably the most distinguished crypto buying and selling platform, Binance, has introduced plans to record the fast-growing Solana-based meme coin BOOK OF MEME (BOME) amid latest explosive rallies. Binance communicated this transfer by way of its official web site early in the present day, noting the BOME token shall be welcomed within the Binance Futures Market.
Specifically, Binance will launch a USD margin perpetual contract for the BOME token in the present day by 12:30 (UTC), with as much as 50x leverage. The announcement famous that the transfer to welcome BOME was “to develop the record of buying and selling selections provided on Binance Futures and improve customers’ buying and selling expertise.”
In the meantime, Binance’s resolution comes amid BOME’s latest rocket launch, which noticed its value rise by over 170.95% within the final 24 hours. On a seven-day scale, BOME has surged by a staggering 1,198.68%, placing its value at $0.01183.
Notably, the Binance BOMEUSDT contract will settle with USDT, that includes a tick measurement of 0.000001 and a capped funding charge of +2.00% / -2.00%. Funding price settlements will happen each 4 hours. Moreover, with buying and selling accessible 24/7, merchants can leverage as much as 50x, supporting multi-assets mode.
Moreover, Binance introduced that eligible USD-margined futures liquidity suppliers can obtain 0.005% maker price rebates for trades on the BOMEUSDT Perpetual Contract for about 14 to fifteen days.
In the meantime, Binance said it might modify the specs of the BOMEUSDT Perpetual Contract based mostly on market threat situations. This is applicable to the funding price, tick measurement, most leverage, preliminary margin, and/or upkeep margin necessities.
Notably, Binance customers can commerce the BOMEUSDT Perpetual Contract throughout a number of margin property with relevant haircuts. As an illustration, when the Multi-Property Mode is lively, customers can make the most of BTC as a margin when buying and selling the BOMEUSDT Perpetual Contract.
Disclaimer: The knowledge offered on this article is for informational and academic functions solely. The article doesn’t represent monetary recommendation or recommendation of any form. Coin Version isn’t chargeable for any losses incurred on account of the utilization of content material, merchandise, or companies talked about. Readers are suggested to train warning earlier than taking any motion associated to the corporate.