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Binance, a big cryptocurrency platform, shared some news about altcoins. They’re removing leveraged tokens linked to Cardano (ADA) and introducing options for Dogecoin (DOGE). The ADA tokens are being delisted, and the DOGE options will start.
Binance Announces ADA and DOGE Updates:
Today, Binance, the world’s biggest crypto exchange, shared important news. It has removed ADAUP and ADADOWN leveraged tokens linked to Cardano (ADA) from its trading pairs. This change will happen on August 16th, 03:00 UTC. Users can trade these tokens for other tokens before the delisting.
Additionally, Binance will introduce ‘DOGEUSDT Weekly Options‘ for Dogecoin (DOGE) on August 10th, 08:00 UTC. These are European style options contracts that will be available every Thursday. As of now, ADA is still trading at $0.2983.”
Binance Futures Launches Perpetual Contract for BNT Token Updates:
Binance Futures, a major cryptocurrency trading platform, has just launched an ongoing contract for Bancor Network’s native token, BNT. This new contract, known as BNTUSDT perpetual contract, will be available from August 10, 2023, offering traders the opportunity to use leverage up to 20x.
Bancor Network is a decentralized platform that lets people swap tokens without intermediaries, and its token, BNT, serves to stake in liquidity pools and earn fees from token swaps. A special feature of BNT is ‘non-permanent loss protection,’ compensating those who provide liquidity for the value they might miss out on when tokens are in a pool.
This perpetual contract, quoted and settled in USDT (a widely used stablecoin), doesn’t have an expiration date like traditional futures. It also maintains a price close to the actual asset’s value, thanks to its funding mechanism.
It’s essential to read the contract details before trading, as Binance Futures can adjust the terms based on market conditions and risks. The contract operates under Binance’s Terms of Use and Binance Futures Service Agreement.”
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.