Binance will go online at 1: 00 today for USDC 1-30 times U standard perpetual contract trading

According to the official news on March 13, Binance will launch the USDC 1-30 times U-standard perpetual contract at 1:00 on March 13, 2023 Beijing time.

Interpretation of this information:

The announcement made by Binance on 13th March mentions the launch of a USDC 1-30 times U-standard perpetual contract that will go live at 1:00 pm on the said day. It indicates that Binance, one of the world’s most prominent cryptocurrency exchanges, is taking a significant step forward to expand its offerings in the crypto derivatives market.

A perpetual contract is a type of futures contract that has no expiry date or settlement date. It allows traders to hold a position indefinitely until the trader decides to close the position. This type of contract is particularly appealing to traders who want to avoid the hassle of frequently rolling over futures contracts. Additionally, by using USDC 1-30 times U-standard, Binance ensures that its customers will be able to make payments or receive payments without any additional hassles.

Binance has been investing plenty of resources in building up its derivatives platform since it launched its first futures contract in September 2019. By launching the perpetual contract, Binance is attempting to capture an even larger market share in the growing derivatives market. By creating a platform that is responsive to the varied needs of the traders, the exchange hopes to maintain its competitive edge in the market.

The USDC stablecoin has been gaining a lot of momentum, with more and more platforms incorporating it into their offerings. USDC is backed by the US dollar, and its value is stable and predictable. By integrating USDC, Binance is giving traders exposure to both the cryptocurrency and the stability of the US dollar. This will particularly appeal to traders who want the benefits of the cryptocurrency market without its volatility.

In summary, Binance’s announcement of launching the USDC 1-30 times U-standard perpetual contract is a significant step forward as Binance continues its aggressive expansion of its derivatives market offerings. This move to incorporate a stablecoin like USDC signals its intent to appeal to a broader set of traders who are looking for stability in the cryptocurrency market.