Binance, the world’s leading cryptocurrency exchange, has made important updates that will affect Bitcoin and altcoin projects with several announcements. These developments include new trading opportunities and network upgrades, adding new vitality to the crypto landscape. Here are the details…
Binance launches perpetual futures contracts for ARK
Binance Futures has once again shown its weight in expanding its offerings by introducing the USDⓈ-M ARK perpetual futures contract. This contract, which will be launched on September 19, 2023 at 17:30, will allow investors to use up to 10x leverage, offering an attractive opportunity for both experienced and crypto trading beginners. Additionally, by adopting Multi-Asset Mode, traders can use various margin assets when trading the ARKUSDT perpetual futures contract.
Binance announces binary investment products
In another exciting move, Binance has launched a new suite of Binary Trading products with updated Target Prices and Settlement Dates. These products appeal to users who want to “Sell High” or “Buy Low” on a variety of popular cryptocurrencies. Binary investment products offer a variety of options for investors:
- Sell high: For users who want to accumulate high rewards on crypto assets or aim to sell the Deposit Currency at a higher price in the future.
- Buy low: Specially designed for users who want to accumulate rewards on their stablecoin holdings or purchase a cryptocurrency at a lower price in the future.
The subscription format for these products is on a first come, first served basis. Users can explore a wide range of Target Prices and Settlement Dates with options including leading cryptocurrencies such as ETH, BTC, BNB and more. The altcoins mentioned in this announcement include BNB, SOL, MATIC, ADA, DOT, BCH, AVAX, FTM, ALGO, NEAR, ATOM, XRP, DOGE and LTC.
Upgrade support for altcoin ZEN
Binance isn’t just expanding its trading offerings. It also actively participates in the development of blockchain networks. Binance will support the Horizen (ZEN) network upgrade, which is planned to occur in two phases. The first phase is planned for September 19, 2023 at 22:00 and will include a height of 1,422,426 blocks. During this phase, deposits and withdrawals of tokens on the Horizen network will be temporarily suspended starting from September 19, 2023 at 21:00. The second phase will take place at a block height of 1,426,200 and will start on September 26, 2023, at 13:00. Similar to the first phase, token deposits and withdrawals will be temporarily suspended starting September 26, 2023, at 12:00 p.m.
Altcoin price movements follow Binance’s announcements
As is often the case in the cryptocurrency market, Binance’s announcements sparked immediate reactions. In response to the news that Binance supports the Horizen network upgrade, the price of ZEN experienced a 3% increase. At the time of writing, ZEN is trading at $7.64, showing the impact of Binance’s involvement in the crypto space. Similarly, the announcement of the ARK perpetual contract by Binance resulted in increased interest in ARK, with its price increasing by 21% after the announcement. Currently, ARK is trading at $0.619, indicating the enthusiasm surrounding this new trading opportunity.
