Binance Set to Launch CFX 1-20 Times U Standard Perpetual Contract

02/20/2023 06:02 • Tech Trends • 81 views

According to the official announcement, Binance will launch the CFX 1-20 times U standard perpetual contract at 22:30 on February 20.

Binance will launch CFX 1-20 times U-standard perpetual contract

Analysis based on this information:

Binance, one of the world’s leading cryptocurrency exchanges, has announced that it will launch CFX 1-20 times U standard perpetual contract on the evening of February 20. The new contract, which will be introduced at precisely 22:30 (UTC), has been designed to help traders access high leverage with ease dealing with crypto-assets, particularly the Conflux network’s native cryptocurrency – CFX.

The perpetual contract operates as a product in the Binance Futures market. It is a type of futures contract that does not have an expiration date, unlike traditional futures contracts. Instead, it operates continuously until the trader decides to close their position. The contract is settled in Tether (USDT) and funded on a linear basis. Unlike traditional futures contracts that require currency conversion, the perpetual contract is denominated in USDT, enabling simple and quick trading between currencies.

The CFX 1-20 times U standard perpetual contract is a leveraged product that boosts the trader’s investment. It enables traders to amplify their returns even on price movements of smaller fluctuations. The contract allows traders to take advantage of the bull market, where price increases can often be sudden and substantial. With the ability to access 20 times their account’s worth, traders can have a high leverage position that amplifies their profits.

Binance’s announcement comes as Conflux, a public blockchain network, has been gaining momentum in the crypto community. CFX, the native currency of Conflux, has enjoyed positive market attention for its efficient consensus mechanism and low transaction costs. Binance’s partnership with Conflux, which involves joint research and the launch of new products, such as the CFX 1-20 times U standard perpetual contract, indicates that the exchange is optimistic about the future prospects of the network.

In conclusion, Binance’s launch of the CFX 1-20 times U standard perpetual contract indicates a more significant push towards high leverage products in the crypto market. It aims to provide traders with a simple, cheap, and seamless way of profiting from the rising prices of cryptocurrencies. Additionally, the product’s foundation on the Conflux network shows Binance’s interest in developing new partnerships and building infrastructure in the decentralized realm.

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/02/20/binance-set-to-launch-cfx-1-20-times-u-standard-perpetual-contract/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Binance Set to Launch CFX 1-20 Times U Standard Perpetual Contract

Binance will laun…

Binance will launch CFX 1-20 times U-standard perpetual contract

Recommended articles