Cryptocurrency exchange giant Binance has unveiled its plans to roll out the ORDI perpetual contract, as revealed in a recent announcement on Binance Futures. The ORDI contract is set to go live on February 22, 07:00 (UTC), providing traders with the opportunity to engage in leveraged trading with the ORDI token.
The ORDI perpetual contract, which will be margined in USDC, offers traders the potential to amplify their positions with leverage of up to 75x. Additionally, users can benefit from a 10% discount on trading fees for all USDC margined futures contract trades until April 03, 12:30 pm (UTC).
With the launch of the ORDI perpetual contract, Binance aims to enhance its futures trading offerings and cater to the growing demand for trading opportunities in the cryptocurrency market. The platform has set the maximum financing rate for the ORDIUSDC perpetual contract at +2.00% and -2.00%, with funding fee calculations occurring every four hours.
In response to the news, the Ordi token (ORDI) experienced a surge in both price and trading volumes. Over the past 24 hours, the ORDI token witnessed a 6% increase in price, while trading volumes soared by 13% to reach $159.46 million. Additionally, the market capitalization of the ORDI token spiked by 5.6% to $1.52 billion.
The Ordi token, based on the Ordinals protocol, is a BRC-20 token that operates on the Bitcoin (BTC) blockchain. Initially emerging as a meme coin, the project has evolved to become the primary token of the Ordinals protocol, showcasing significant growth and adoption within the cryptocurrency ecosystem.
