Will Binance Futures New Perpetual Contract Boost QUICK Price?

Highlights,Binance Futures, the derivatives arm of the global cryptocurrency exchange, has expanded its portfolio by launching a USD-margined QUICK perpetual contract with up to 75x leverage. The new offering, which went live today, is designed to enhance the trading experience by providing additional options for traders.,Binance Futures has introduced the QUICKUSDT Perpetual Contract, marking a significant expansion in its trading offerings. This new contract started trading on September 6, 2024, at 05:00 UTC. The contract operates 24/7, reflecting the continuous nature of the crypto market.,The contract is based on QuickSwap (QUICK), an established digital asset, with Tether (USDT) as the settlement asset. It features a tick size of 0.00001 and supports up to 75x leverage, allowing seasoned traders to amplify their trading strategies effectively. ,Additionally, the funding fee settlement occurs every four hours, ensuring active engagement and balance in the funding rates, which are capped at +2.00% and -2.00%.,Moreover, Binance Futures emphasizes the flexibility of its new QUICK perpetual contract by integrating Multi-Assets Mode. This feature allows traders to use multiple cryptocurrencies like BTC as collateral, providing enhanced trading flexibility. Such innovations are part of Binance’s commitment to adapt to user needs and market demands.,In addition, the platform announced that it may adjust contract specifications such as the funding fee, tick size, leverage limits, and margin requirements based on prevailing market conditions. These measures are crucial for maintaining a balanced and fair trading environment while accommodating varying levels of risk-reward ratio.,The introduction of the QUICK perpetual contract by Binance Futures might increase its liquidity and visibility in the crypto market. The high leverage option could attract a new wave of traders looking for high-risk, high-reward trading opportunities, potentially increasing the trading volume and the stability of QUICK price.,Moreover, the enhanced exposure through Binance Futures could also aid in broader acceptance and integration into the crypto ecosystem, supporting its long-term growth trajectory. As with all high-leverage financial instruments, traders are advised to approach with caution given the heightened risk profile.,Following the announcement, QuickSwap experienced a significant price surge to $0.04855, marking a 30% increase in the last 24 hours. This was accompanied by a remarkable 310.3% rise in trading volume, pushing the market cap to approximately $35,331,145.,More so, Binance crypto exchange on Wednesday announced new development in its push toward regulatory compliance. The exchange appointed top auditing firm Grant Thornton as its accounting and tax partner.,