Binance Launches Ethereum Classic Futures

Leading cryptocurrency exchange Binance has added trading of Ethereum Classic (ETC) futures contracts.

According toA Binance blog post says a new derivative product will be launched on January 16 at 8:00 AM (UTC). Users will be able to trade futures products with leverage up to 75x.

Since September last year, the exchange offersfutures contracts for Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), XRP, EOS, Litecoin (LTC) and TRON (TRX). All offers are traded against Tether (USDT).

According to specification, maximum volumeof the contract is 1,000,000. The initial margin rate and the service margin rate will be 1.3% and 0.65%. Elimination of an ETC perpetual contract will be 0.5%.

The perpetual futures contracts themselves on the Binance platform are similar to trading pairs on the spot market – they are assessed and calculated in the same way.

Today Ethereum Classic is one of the top fivethe best coins in the growing altcoin market. Over the past 24 hours, its price has increased by almost 30%. The supply of futures contracts on ETC may be one of the factors that will stimulate further growth of Ethereum Classic.