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Binance Futures launches Monero (XMR/USDT) perpetual contract

Jude Lopez

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Binance, one of the world’s largest cryptocurrency exchanges, added Monero [XMR] to its Futures market. Binance Futures announced the launch of XMR/USDT perpetual contract today. This update comes just weeks after the exchange announced that Stellar Lumens [XLM] paired with USDT perpetual contracts would be supported on Binance Futures.

In the announcement, the company stated that the XMR/USDT perpetual contracts will begin trading on 3 Feb 2020 from 08:00 AM (UTC) and users will be able to select the leverage they want ranging from a minimum of 1x up to a maximum of 75x.

Binance also said, “To prevent market manipulation, Binance will implement a pricing limit of ±1% on the mark price within the first 15 minutes after trading starts.” This measure was also implemented when the XLM/USDT perpetual contracts began to trade.

The pricing limit cap is in place is to act as a counterforce to deter sudden surges in price that were seen when other popular cryptocurrencies were listed on the exchange.

As of now, according to market analytics firm CoinGecko, Binance Futures also offers trading support for popular cryptocurrencies such as Bitcoin [BTC], Ethereum [ETH], Bitcoin Cash [BCH], Ethereum Classic [ETC], XRP, Litecoin [LTC], EOS, LINK, TRX, XLM, and ADA. With the addition of XMR, Binance Futures now support almost all major cryptocurrencies in the market.

Jude Gerald Lopez is a full time News Editor at AMBCrypto covering the US and Indian market. He is a post-graduate in English literature with around 4 years of teaching experience in Indian literature.