Just a few days after Binance futures initiated Cardano, ADA / USDT perpetual contracts, the BTSE Stock Exchange in Malta added another feather to its achievement by incorporating Monero XMR / USDT Perpetual Contracts which brings the number of perpetual contracts provided by Binance Futures to a total of eleven (11).
In a weekend announcement, Binance Futures announced that perpetual contracts between XMR / USDT will be launched by 08:00 am (UTC) today, February 3, 2020. This fresh feature allows users to buy, sell or trade perpetual contracts of Monero / Tether up to 75 times.
In its announcement, Binance Futures also mentioned its crackdown on market volatility; this is intended to be done by setting a +/- 1% pricing limit on the market price in XMR within the first 15 minutes of the start of the trading session. This cap acts as a mitigating measure for issues that may arise from market fluctuations that affect cryptocurrencies.
Remember that earlier in the year, January 7 specifically; the Dubai-based BTSE Stock Exchange merged XRP / USDT Perpetual Contracts into its program while the XMR / USDT Perpetual Contracts launch plan was in progress since November 2019 after the BTSE announcement.
Monero Takes a Step Ahead
Whenever it regards legitimacy, cryptocurrencies are still being regarded with a tinge of caution; even king bitcoin that had been in existence in the last ten years isn’t an exception. This double-sided look makes it even more difficult for privacy-protecting cryptocurrencies like Monero and ZCash.
Globally, the stance against privacy-protecting coins like Monero and ZCash hasn’t been favorable. The fact that the anonymity of User ID and transaction details is maintained makes this privacy-protecting cryptocurrency to be at war with financial regulatory bodies.
In an enlightening twist of event, which was presented with the recent Hong Kong protests, many crypto users have seen the need for privacy-protecting coins more than ever before.
At the time of this report, XMR clinched 14th on listings of top cryptocurrencies by market cap given by the CoinMarketCap with an estimated total market cap of $1.3 billion.
Other perpetual contracts featured on Binance Futures are BTC/USDT, ETH/USDT, BCH/USDT, XRP/USDT, EOS/USDT, LTC/USDT, TRX/USDT, ETC/USDT, LINK/USDT, and XLM/USDT.
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