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While WLD aims for a potential recovery to $4, its recent performance remains volatile, with a 4% drop in the last 24 hours.
Key Notes
Binance announces the launch of WLDUSD COIN-M perpetual contract with up to up to 20x leverage.The product will be available for trading on October 2, 2024 at approximately 10:00 UTC.Binance said the new futures contracts features a 0.75% funding rate cap and regular eight-hour settlements.Binance, the world’s largest crypto exchange, has expanded its futures market with the addition of Worldcoin WLD $2.08 24h volatility: -2.4% Market cap: $992.57 M Vol. 24h: $538.86 M perpetual contracts, allowing traders to leverage up to 20 times their investment.
Starting from Wednesday, October 2, traders can access the WLD/USDT perpetual futures on the Binance platform at approximately 10:00 UTC, enabling users to speculate on the future price movements of the digital asset without the need to hold the underlying asset. The contract offers leverage from 1x to 20x, catering to both conservative and high-risk traders looking for potential returns in a volatile market.
Binance Expands Trading Options for Users
With this addition, Binance continues to strengthen its position as a global leader, offering a wide range of products to its 200 million user base. The exchange has been steadily expanding its futures offerings to include a diverse array of digital assets, in response to a growing demand from traders seeking to maximize their exposure to the crypto market.
Binance disclosed that the WLDUSD COIN-M perpetual contract will have a tick size of 0.0001. To manage the risks associated with leveraged trading, the exchange has introduced several precautionary measures. One of these safeguards is a funding rate cap of 0.75%, which limits the cost of holding a position.
Additionally, the funding fees will be settled every eight hours, giving traders regular updates on their positions and helping them make well-informed decisions.
The exchange also mentioned that it might change tick size, along with other parameters such as funding fees, margin requirements, and leverage settings in response to shifts in the market.
“Based on market risk conditions, Binance may adjust the specifications of the aforementioned futures contract(s) from time to time, which include the funding fee, tick size, maximum leverage, initial margin, and/or maintenance margin requirements,” the company said.
WLD Could Hit $4 This Year
Despite the precautionary measures, Binance announced that the WLDUSD COIN-M perpetual contract will not be coming with multi-asset support.
Meanwhile, the launch of the WLDUSD COIN-M perpetual contract comes at a time when the underlying digital asset is eyeing recovery following a broader trend in the industry after many weeks of market turbulence. According to reports, WLD may likely trade around $4 in the near future. The token has recorded a weekly gain of 27% on Friday.
However, this prediction may seem far-fetched as its daily performance has been on the fence in the last 24 hours. WLD has shedded nearly 4% of its value at the time of writing, currently trading around $2.07.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
