Binance Futures to List BRC-20 Token ORDI: Price Impact

8 months ago 9

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Binance Futures is set to introduce the USDC-margined ORDI Perpetual Contract. Scheduled for launch on February 22, 2024, at 07:00 (UTC), this addition aims to elevate the trading experience for ORDI enthusiasts.

Binance Futures will offer an impressive leverage of up to 75x, allowing traders to place high-risk, high-reward trades.

Traders Anticipate ORDI Breakout Amidst Binance Listing

Introducing the ORDIUSDC Perpetual Contract will enable traders to leverage the USDC’s stability against ORDI’s potential volatility and growth prospects. The contract features a tick size of 0.001 and a balanced funding rate capped between +2.00% and -2.00%.

Moreover, the new ORDI contract ensures fairness and stability in the market through its funding fee settlement, occurring every four hours. The option of maximum leverage at 75x indeed presents a lucrative yet high-risk opportunity for adept traders. Consequently, they can maximize their gains by strategically navigating market movements.

Amidst the announcement, the ORDI token is currently showcasing a bullish trend, evidenced by a cup with handle pattern on the daily chart. This pattern indicates the potential for significant price movement. The critical neckline of this pattern is at $72.33, which promises a bright outlook if ORDI can surpass it.

“If momentum persists, ORDI could aim for a 30% gain, targeting $91.80,” pseudonymous trader Elodie said.

In a separate development, traders should also note Binance’s upcoming changes to leveraged tokens. Trading and subscription services for trading pairs such as BNBUP/USDT, BNBDOWN/USDT, ETHUP/USDT, ETHDOWN/USDT, BTCUP/USDT, and BTCDOWN/USDT will halt on February 28, 2024.

The platform will subsequently terminate redemption services and delist these leveraged tokens on April 3, 2024.