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06/19/2024

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XRP, Cardano, & 7 Other Communities Must Watch This Key Move By Binance

Bitcoin (BTC), Ethereum (ETH), BNB, Cardano (ADA), Chainlink (LINK), Bitcoin Cash (BCH), XRP, Polkadot (DOT) and Litecoin (LTC) future contract launch announced by crypto exchange Binance.

XRP, Cardano, & 7 Other Communities Must Watch This Key Move By Binance

XRP, Cardano, & 7 Other Communities Must Watch This Key Announcement By Binance

Highlights

  • Crypto exchange Binance to launch USD-M and COIN-M Quarterly 1227 Delivery Contracts on June 28.
  • Users can trade BTC, ETH, BNB, ADA, LINK, BCH, XRP, DOT and LTC futures after delivery of previous futures contracts.
  • XRP and ADA prices jumps as altcoins' prices jump higher in the last 24 hours.

Binance will list USD-M and COIN-M Quarterly 1227 Delivery Contracts, the world’s largest crypto exchange announced on Wednesday. Bitcoin (BTC), Ethereum (ETH), BNB, Cardano (ADA), Chainlink (LINK), Bitcoin Cash (BCH), XRP, Polkadot (DOT) and Litecoin (LTC) will be available for users after expiry and delivery of USD-M and COIN-M Quarterly 0628 Delivery Contracts on June 28.

Binance Announces BTC, ETH, BNB, XRP, ADA, DOT, LINK, BCH Futures

Crypto exchange Binance in an official announcement on June 19 said it will launch USD-M and COIN-M Quarterly 1227 Delivery Contracts on June 28.

The quarterly 1227 delivery contracts to become available for trading a few hours after USD-M and COIN-M Quarterly 0628 Delivery Contracts expire and settle at 08:00 on June 28, 2024. Notably, the tick size and max leverage for futures contracts remain unchanged.

USD-M BTC and ETH Quarterly 1227 delivery contracts will have a tick size of 0.1 and 0.01, respectively. It will be launched after the expiry of previous future contracts, with a maximum leverage of 50x.

Meanwhile, tick size and maximum leverage for COIN-M BTC, ETH, BNB, ADA, LINK, BCH, XRP, DOT and LTC Quarterly 1227 delivery contracts are as follows.

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Traders will get 50x maximum leverage on BTC and ETH futures, with tick size of 0.1 and 0.01, respectively. BTC, ETH, BNB, ADA, LINK, BCH, XRP, DOT and LTC will have a maximum leverage of 20x. BNB, BCH, LTC’s tick size of 0.01 and ADA and XRP of 0.0001. Whereas, LINK and DOT will have a tick size of 0.001.

Also Read: Binance’s Key Announcement For WIF, BONK, FLOKI, NOT, ZK And 6 Other Crypto

XRP and ADA Awaits Breakout

XRP and ADA’s price performance is weak as compared to other crypto such as BTC, ETH, and other altcoins. Both altcoins are at lower support levels.

ADA price rally in a year has reduced to just 50% as it fell to $0.36 recently. ADA is currently trading at near $0.40, the December low levels seen before the bull market. However, the price jumped 5% in the last 24 hours has raised hopes of a strong recovery in the coming weeks.

Meanwhile, XRP has dropped to a yearly low, giving up all gains. XRP price is currently trading at $0.493, below the key psychological support level. The 24-hour low and high are $0.4773 and $0.5078, respectively.

Futures trading data in the last 24 hours indicate mixed reactions from XRP and ADA traders. It is because of concerns surrounding major options expiry on June 28.

Also Read: Terra Luna Classic (LUNC) Burn Tax Change Proposal Officially Passed

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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