Binance Futures, one of the most liquid derivate markets in the crypto realm, announced plans to launch a USDⓈ-M BSV perpetual contract (BSVUSDT) as of October 20, 2023, at 12:30 (UTC).
According to reports, Binance delisted the BSV spot trading pair on April 15, 2019, and has no plans to restore it this time either. However, with the upcoming launch of BSVUSDT, the firm assured its users that the perpetual contract would offer up to 50x leverage.
More About The USDⓈ-M BSV Perpetual Contract
The underlying asset within the contract is BSV (Bitcoin Satoshi’s Vision), sometimes referred to as Bitcoin SV, whereas the settlement asset is USDT. Bitcoin SV is a blockchain curated in 2018 as a result of the hard fork from the Bitcoin Cash Blockchain. The Bitcoin Cash Blockchain itself grew as a hard fork of the original Bitcoin blockchain.
With a tick size of 0.01, the contract offers trade with minimal ease and efficiency. The bond will have a maximum capped funding rate of +2.00% / -2.00%, while the funding fee settlement frequency is set around every four hours. Users can trade on the offered bond 24×7, as stated by Binance, and leverage up to 50x more. The contract also supports Multi Assets Mode, facilitating users to indulge in a more varied trading experience.
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BSV Drifts Towards Portraying A Promising Future
The month of October saw notable traction revolving around Bitcoin SV. The cryptocurrency caught the eyes of many investors as it witnessed a substantial increase in its price. As of October 19, the coin reached around $43 after going through significant price fluctuations in the past few months.
The coin mostly traded in a consolidated range between $32 and $34 during the past few months. However, the coin now shows promising growth as of October 2023 and continues to rise.
Meanwhile, as of writing, Bitcoin SV is valued at $52.28, noting a surge of 27.68% over the last 24 hours on October 20, 2023, underscoring the prior monthly high of $43. The continuous rise in the price of Bitcoin SV has gravitated investors towards itself, displaying promising returns in the future.
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Read More: Binance Futures Plans To Launch M BSV Perpetual Contract