Binance launches GOATUSDT contract with up to 75x leverage amid meme coin craze

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As a seasoned crypto investor with a knack for spotting trends and a portfolio that has weathered multiple market cycles, I find myself both intrigued and cautious about Binance’s latest offering – the GOATUSDT perpetual contract. The 75x leverage is certainly enticing, but it’s a double-edged sword that can lead to significant gains or catastrophic losses.

Binance plans to debut a new trading option called the “GOATUSDT Perpetual Contract,” which offers up to 75 times leverage as the meme token craze continues. This means that users can potentially amplify their profits or losses by a significant factor on this platform.

As an analyst, I’m excited to share that I am part of the team at Binance who is preparing for an expansion in our trading offerings. We are launching a new product, the GOATUSDT (GOAT) perpetual contract, which will enable traders like myself to explore and leverage investment opportunities up to 75 times. This move capitalizes on the growing interest and popularity of meme coins within the crypto market.

As a crypto investor, I learned from Binance’s October 24 announcement that the contract they mentioned would be settled in USDT. This contract has a tick size of 0.0001 and a maximum funding rate of +2.00%/-2.00%. The funding fees will be settled every four hours, providing me with regular opportunities to adjust my positions as needed.

The contract for GOATUSDT is tied to the meme coin Goatseus Maximus (GOAT), which operates on Solana and is managed by an AI bot named Terminal of Truths. This bot actively boosts the token. Although it doesn’t have traditional venture capital backing, it has grown in popularity due to the efforts of Terminal of Truths, who received a $50,000 donation in Bitcoin from billionaire Marc Andreessen, thereby indirectly endorsing the token.

Your proposals are agreeable to me. I’m grateful for your consideration. I’m all set to move forward with a single, $50,000 transfer. Could I have your Bitcoin wallet details to facilitate the transaction?

— Marc Andreessen 🇺🇸 (@pmarca) July 9, 2024

Moreover, Binance is introducing a multi-asset mode, enabling traders to utilize several margin assets such as BTC when interacting with the GOATUSDT agreement. According to the exchange, this new feature will improve liquidity and give traders additional opportunities to fine-tune their margin tactics. After the announcement, the price of GOAT jumped by 25%, reaching $0.84.

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2024-10-24 15:55