Important Binance Update for January 18th Concerning Dogecoin (DOGE)
TL;DR
- Binance is introducing a new USDC-margined DOGE perpetual contract with enhanced trading features.
- The exchange continues to adjust its offerings, with numerous changes implemented since the beginning of 2024.
The world’s leading cryptocurrency exchange – Binance – will expand the list of services on Binance Futures by launching the USDC-margined DOGE perpetual contract. The amendment will come into effect on January 18 and allow trading with up to 75x leverage.
The option will have the Multi-Assets Mode activated, enabling clients to use numerous cryptocurrencies, including Bitcoin (BTC), as a margin.
The company will also offer users a 10% promotional fee discount for all trades on USDC-margined futures contracts until April 3, 2024.
“Based on market risk conditions, Binance may adjust the specifications of the aforementioned futures contract(s) from time to time, which include the funding fee, tick size, maximum leverage, initial margin, and/or maintenance margin requirements,” the firm waned.
Additional support from a crypto behemoth like Binance may increase the liquidity and credibility of the involved digital asset, thus boosting investor confidence.
However, DOGE has experienced little-to-no volatility after the announcement, trading at approximately $0.08 (per CoinGecko’s data).
This is not the first such move by the exchange since the start of 2024. On January 4, it transferred Monero (XMR), Zcash (ZEC), and other cryptocurrencies to its Monitoring Tag list, where they will be subject to regular reviews.
A few days later, the company added SOL/USDC, ARB/FDUSD, and DOCK/USDT as cross-margin pairs and SOL/USDC, ARB/FDUSD, and OP/FDUSD as isolated margin pairs.
Most recently, it announced the removal of four spot trading pairs (DAR/BNB, DEXE/ETH, ID/BNB, and POLS/BTC), with changes coming into force from January 19.
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