Introduction:

Binance, the world's biggest cryptocurrency exchange, recently announced the introduction of new quarterly delivery contracts denominated in USD-M and COIN-M on Binance Futures. These contracts are designed to support leading cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), XRP, Cardano (ADA), and others. Alongside, Binance is extending its Futures Ultimate Challenge, including the Daily BTC Price Prediction and the Weekly Tesla Challenge, aiming to enhance liquidity and ensure efficient market operations.

Listing of BTC, ETH, ADA, XRP Futures Contracts:

In an official statement released on March 22, Binance disclosed the listing of USD-M and COIN-M Quarterly 0927 Delivery Contracts, available for trading from 08:00 UTC on March 29. These contracts, settled in USDT, offer a maximum leverage of 50x for BTCUSDT Quarterly 0927 and ETHUSDT Quarterly 0927 delivery contracts. Additionally, COIN-M delivery contracts, supporting various cryptocurrencies, provide leverage up to 50x for BTC and ETH, and 20x for other cryptocurrencies.

Restrictions and Settlement:

Binance has imposed restrictions, allowing users only to close positions or place Reduce Only orders within ten minutes before delivery, as outlined in the announcement. This measure aims to streamline the settlement process and ensure fair trading practices.

Binance BTC Price Prediction and Tesla Challenge Extension:

Responding to high demand from crypto investors, Binance Futures has extended the Futures Ultimate Challenge, commencing from 14:00 UTC on March 24 until April 21 at 13:59 UTC. Participants stand a chance to win 0.05 BTC token voucher by predicting the mark price of BTCUDT perpetual contract, and Golden Tickets for a weekly draw offering a Tesla Model Y. These promotions, especially zero-fee trading, contribute significantly to Binance's trading volumes.

Impact of Zero-Fee Trading:

Kaiko's analysis highlights Binance's heavy reliance on zero-fee trading, with its share reaching 40%, the highest since last March. Furthermore, FDUSD, the second-largest stablecoin by trade volume, exclusively trades on Binance, attracting a considerable user base due to zero-fee trading on FDUSD pairs.

Conclusion:

Binance's introduction of new futures contracts and the extension of its trading challenges underscore its commitment to enhancing liquidity and engaging its user base. With these initiatives, Binance aims to maintain its position as a leading cryptocurrency exchange, facilitating seamless trading experiences for its users.