The post Binance Launches KDAUSDT Futures for Investors appeared on BitcoinEthereumNews.com.

On September 18, 2024, Binance, a leading cryptocurrency exchange, will introduce the KDAUSDT perpetual futures contract to its trading platform, enabling trades with leverage up to 75 times. This new offering aims to provide investors with enhanced trading opportunities by allowing leveraged transactions between Kadena (KDA) and Tether (USDT). What Does KDAUSDT Mean for Traders? The introduction of the KDAUSDT futures contract broadens the range of trading instruments available on Binance, offering investors a chance to capitalize on Kadena’s market movements. The contract, which is USDⓈ-Margined, calculates profit and loss in USDT. A key feature of this contract is its 75x leverage capability, which can significantly magnify returns from minor price fluctuations, but it also involves considerable risk due to the potential for substantial losses. How Will Funding and Fees Impact Trading? The contract includes a funding fee that initially has a standard rate of +/- 2.00%. This fee is collected every four hours, impacting the overall trading strategy. Therefore, traders should consider these costs when planning their leveraged trades. Binance’s introduction of this contract signifies its continuous effort to diversify its offerings and cater to various investor needs. The announcement led to a notable increase in Kadena’s price, which surged over 27% to exceed $0.6419, according to CoinMarketCap. While this offers potential upside for investors, Binance advises caution. The elevated leverage can lead to amplified gains, but it also raises the stakes, making proper risk management crucial for traders. Therefore, investors are encouraged to remain vigilant and informed about market conditions. Key points to consider include: High leverage potential with a 75x option. Profits and losses calculated in USDT. Funding fee rate set at +/- 2.00%, collected every four hours. Increased price volatility in Kadena following the announcement. Binance’s launch of the KDAUSDT futures contract presents a promising opportunity…

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Filed under: News - @ September 18, 2024 2:26 pm