Binance, a leading cryptocurrency exchange, has made an exciting announcement for its users. The exchange revealed that it will be introducing a new token to its futures trading platform, thereby expanding the options available to crypto investors.
The token in question is the SANTOSUSDT Perpetual Contract for the Santos FC Fan Token (SANTOS). Traders will now have the opportunity to access up to 75x leverage on this contract, allowing them to speculate on the price movements of SANTOS without actually owning the token.
SANTOS, which was launched in collaboration with Binance Launchpool in 2021, represents Brazil’s Santos FC football club. Since the listing of the SANTOSUSDT Perpetual Contract, the token’s market performance has experienced an impressive surge. SANTOS has seen a price increase of over 100%, accompanied by a staggering trading volume increase of nearly 1,850%.
In order to diversify the trading options available on its platform, Binance recently expanded its futures line-up. The exchange added contracts for SAFE and Moodeng, each offering up to 75x leverage.
To read more about this topic, click on the following link:
Analysts are predicting diminishing returns for altcoins as the cryptocurrency market matures.