Binance Futures to List BRC-20 Token ORDI: Price Impact

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In Brief

  • Binance Futures to list USDC-margined ORDI Perpetual Contract on Feb 22, 2024, with up to 75x leverage.
  • ORDIUSDC contract allows trading ORDI’s volatility with USDC’s stability, featuring a balanced funding rate.
  • ORDI shows a bullish trend, with a potential 30% gain to $91.80, amid Binance’s leveraged tokens changes.

Binance Futures is set to introduce the USDC-margined ORDI Perpetual Contract. Scheduled for launch on February 22, 2024, at 07:00 (UTC), this addition aims to elevate the trading experience for ORDI enthusiasts.

Binance Futures will offer an impressive leverage of up to 75x, allowing traders to place high-risk, high-reward trades.

Traders Anticipate ORDI Breakout Amidst Binance Listing

Introducing the ORDIUSDC Perpetual Contract will enable traders to leverage the USDC’s stability against ORDI’s potential volatility and growth prospects. The contract features a tick size of 0.001 and a balanced funding rate capped between +2.00% and -2.00%.

Moreover, the new ORDI contract ensures fairness and stability in the market through its funding fee settlement, occurring every four hours. The option of maximum leverage at 75x indeed presents a lucrative yet high-risk opportunity for adept traders. Consequently, they can maximize their gains by strategically navigating market movements.

Read more: What Are BRC-20 Tokens? Everything You Need To Know

Amidst the announcement, the ORDI token is currently showcasing a bullish trend, evidenced by a cup with handle pattern on the daily chart. This pattern indicates the potential for significant price movement. The critical neckline of this pattern is at $72.33, which promises a bright outlook if ORDI can surpass it.

“If momentum persists, ORDI could aim for a 30% gain, targeting $91.80,” pseudonymous trader Elodie said.

Binance Futures to List BRC-20 Token ORDI: Price Impact
ORDI Price Performance. Source: TradingView

In a separate development, traders should also note Binance’s upcoming changes to leveraged tokens. Trading and subscription services for trading pairs such as BNBUP/USDT, BNBDOWN/USDT, ETHUP/USDT, ETHDOWN/USDT, BTCUP/USDT, and BTCDOWN/USDT will halt on February 28, 2024.

Read more: 13 Best Altcoins To Invest In February 2024

The platform will subsequently terminate redemption services and delist these leveraged tokens on April 3, 2024.

Best crypto platforms in Europe | February 2024

This article is sourced from the internet: Binance Futures to List BRC-20 Token ORDI: Price Impact

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