#$BTC

The "$BTC" you're seeing on Binance likely refers to the BTCUSDT perpetual futures contract. Here's a breakdown in under 150 words:

This is a derivative product that allows you to trade Bitcoin (BTC) against Tether (USDT) with no expiration date. Unlike traditional futures, you don't need to roll over the contract. Perpetual futures enable traders to speculate on Bitcoin's price movement, using leverage to potentially amplify gains (and losses). A key mechanism is the "funding rate," where either buyers or sellers periodically pay each other based on the contract price's difference from the spot market price, aiming to keep the perpetual contract price aligned with the underlying asset. It's a popular tool for both speculation and hedging in the cryptocurrency market.