While WLD is targeting a potential recovery to $4, its recent performance has been volatile, down 4% over the past 24 hours. Key Notes Binance announces the launch of the WLDUSD COIN-M perpetual contract with up to 20x leverage. The product will be available for trading on October 2, 2024 at approximately 10:00 UTC. Binance said the new futures contract features a 0.75% funding rate cap and eight-hour regular settlements. Binance, the world’s largest cryptocurrency exchange, has expanded its futures market with the addition of Worldcoin WLD $2.06 perpetual contracts, allowing traders to benefit from leverage of up to 20x their investment. Starting Wednesday, October 2, traders will be able to access WLD/USDT perpetual futures contracts on the Binance platform at approximately 10:00 UTC, allowing users to speculate on the future price movements of the digital asset without having to hold the underlying asset. The contract offers leverage from 1x to 20x, catering to conservative and risk-averse traders looking for potential returns in a volatile market. Binance Expands Trading Options for Users With this addition, Binance continues to strengthen its position as a global leader, offering a wide range of products to its 200 million user base.The exchange has been steadily expanding its futures offerings to include a variety of digital assets, in response to the growing demand from traders looking to increase their exposure to the cryptocurrency market. Binance revealed that the WLDUSD COIN-M perpetual contract will have a tick size of 0.0001. To manage the risks associated with leveraged trading, the exchange has introduced several precautionary measures. One of these precautionary measures is a 0.75% cap on the financing rate, which limits the cost of holding a position. Additionally, financing fees will be settled every eight hours, giving traders regular updates on their positions and helping them make informed decisions. The exchange also stated that it may change the trading volume, along with other parameters such as financing fees, margin requirements, and leverage settings, in response to market shifts. “Based on market risk conditions, Binance may adjust the specifications of the above-mentioned futures contract(s) from time to time, including financing fees, tick size, maximum leverage, initial margin, and/or maintenance margin requirements,” the company said. WLD price could hit $4 this year Despite the precautionary measures, Binance announced that the WLDUSD COIN-M perpetual contract will not come with multi-asset support.Meanwhile, the launch of the WLDUSD COIN-M perpetual contract comes at a time when the underlying digital asset is looking to recover following a broader industry trend following several weeks of market turmoil. According to reports, WLD is likely to trade around $4 in the near future. The token posted a weekly gain of 27% on Friday. However, this prediction may seem far-fetched as its daily performance has been neutral over the past 24 hours. WLD has lost nearly 4% of its value at the time of writing, and is currently trading around $2.07.
