- Binance welcomes Solana-based meme coin BOOK OF MEME (BOME).
- The alternate launched a USD margin perpetual contract with as much as 50x leverage towards BOME.
- Binance’s choice comes as BOME soars greater than 1,198.68% in seven days.
Binance, probably the most well-known crypto buying and selling platform, has introduced plans to record the fast-growing Solana-based meme coin BOOK OF MEME (BOME) amid the current explosive worth rise. Binance introduced the transfer through its official web site early in the present day, noting that BOME tokens will probably be welcomed on the Binance futures market.
Notably, Binance will launch a USD margin perpetual contract for the BOME token with as much as 50x leverage by 12:30 (UTC) in the present day. The announcement states that the transfer to welcome BOME is to “increase the record of buying and selling choices supplied on Binance Futures and enhance the buying and selling expertise for customers.”
In the meantime, Binance’s choice comes amidst BOME’s current rocket launch, which has seen its worth rise over 170.95% up to now 24 hours. On a 7-day time scale, BOME gained a whopping 1,198.68%, hitting the worth at $0.01183.
Particularly, the Binance BOMEUSDT contract is settled in USDT and encompasses a tick dimension of 0.000001 and a cap price of +2.00% / -2.00%. Funding price settlements happen each 4 hours. Moreover, with 24/7 buying and selling, merchants can benefit from as much as 50x leverage and assist multi-asset mode.
Moreover, Binance introduced that eligible USD margin futures liquidity suppliers will have the ability to obtain a 0.005% maker price rebate on trades on the BOMEUSDT perpetual contract for about 14-15 days.
In the meantime, Binance mentioned it might regulate the specs of the BOMEUSDT perpetual contract primarily based available on the market threat state of affairs. This is applicable to funding charges, tick dimension, most leverage, preliminary margin, and upkeep margin necessities.
Particularly, Binance customers can commerce BOMEUSDT perpetual contracts throughout a number of margin property with relevant haircuts. For instance, when multi-asset mode is energetic, a person can make the most of her BTC as margin when buying and selling her BOMEUSDT perpetual contract.
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