Announced on the Binance website, the crypto exchange therefore starts the year with what it calls a perpetual XRP / USDT contract with 1-x75 leverage.
Binance had launched its Ethereum Futures with leverage up to x50 some time ago, read our article on this subject.
And at the start, there were first then Binance Bitcoin Futures with leverage up to x125!
The competition is clearly engaged between Binance and the other actors of the Bitcoin futures contract like Bitmex, CME or Bybit.
Binance intends to take pride of place by launching futures contracts with other major cryptocurrencies on the market like Ripple XRP today.
However, these trading tools are very risky and are aimed at professional traders.
With leverage, it's easy to lose all your capital in a matter of moments ...
With a perpetual leveraged contract up to x75, Binance Futures should definitely attract traders who like this very popular cryptocurrency in the crypto market.
The competition may follow with Ripple Futures in the same style.
Speculative financial tools with leverage that may also have effects on the Ripple XRP price in the longer term like Bitcoin Futures are singled out for having modified the evolution of the Bitcoin price since their appearance at the end of 2017 and which has led to the bear market crypto.