New Listing from Binance: Launching Futures for Altcoin Today!
The world's largest cryptocurrency exchange, Binance, announced that it has added a new altcoin to its futures trading platform.
According to Binance's announcement on Friday, May 23, the exchange will open trading for SOON (SOON) with a maximum leverage of 50x for Tether (USDT) margin perpetual futures contracts.
The SOONUSDT contract will start trading at 11:30 AM Turkey Time (TRT). The SOON project offers the SOON Stack solution, a high-performance SVM rollup infrastructure that brings the transaction speed and user experience of Solana (SOL) everywhere.
Binance stated that the funding rates will initially be between -%2.00 and +%2.00 and will be updated every 4 hours. However, it emphasized that depending on market conditions, there may be changes in funding rates, maximum leverage ratios, and trading limits.
Binance also announced that these futures contracts support the Multi-Assets Mode feature. With this feature, users will be able to trade with different collateral assets like Bitcoin in the contracts.
Binance indicated that the conversion of the SOONUSDT contract to a standard perpetual futures contract will occur with the listing of the relevant asset on the spot market and that a separate announcement will not be made for this conversion. It was also highlighted that during the pre-market trading period, the instant price will be updated every second based on the average of the last 10 seconds of trading prices.
