As of today, the futures trading platform of Binance, Binance Futures launched a perpetual contract for Vechain (VET) as we are about to read in the Vechain news.
Binance info described VeChain as:
“With the concept of ‘Live for Collaboration’, the VeChain project began in 2015 and is built to be the public blockchain platform supporting blockchain-based business applications offering real economic and social value. As a leading global enterprise-level public blockchain platform, the VeChainThor Blockchain provides a comprehensive governance structure, a robust economic model, and advanced IoT integration, which can build a trust-free and distributed business ecosystem platform to enable transparent information flow, efficient collaboration and high-speed value transfer.”
Binance futures launched a new product and according to the official announcement, the project aims to prevent market manipulation so the platform will implement a pricing limit of +- 1% on the marked price in the first 30 minutes after the trading session starts. As with the previous BAT/USDT perpetual contract that was announced, the VeChain perpetual contract on Binance Futures is similar to the trading pairs on the spot market since they are ‘’price and settled in the same manner’’ as per the VeChain news reports.
Binance Futures will also be able to choose between 1x and 50x leverage and some of the main specifications of the contract include a quote asset that is USDT, base asset that will be VET, a settlement asset that will be USDT, one contract unit will be 1 VET, the tick size will be 0.00001and the minimum contract quantity 0.1. Also, the maximum contract quantity will be 10 million and the base maintenance margin rate will reach 1.00 percent while the liquidation fee will reach 0.5%.
The other 20 perpetual contracts aside from Vechain that are offered by Binance Futures include, ETH/USDT, BCH/USDT, XMR/USDT, Dash/USDT, ZEC/USDT, LTC/USD, BTC/USDT, LINK/USDT, XL/USDT, ATOM/USDT and many more.
The VeChain (VET) cryptocurrency is one of the rare trendsetters in the altcoin news and rumors with not many stories or developments behind it. However, all of this has changed this last quarter of 2019 and we can see that in the wave of updates, a new VeChain price prediction was established by a couple of analysts.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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