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

Crypto exchange Binance will introduce the GOATUSDT perpetual contract, which will allow investors to use up to 75x leverage amid the ongoing meme coin craze.

Binance is preparing to expand its trading offerings by launching the GOATUSDT (GOAT) perpetual contract. This contract will allow investors to leverage their positions up to 75x and capitalize on the continued popularity of meme coins.

Binance announced on October 24 that the contract will be denominated in USDT, have a confirmation size of 0.0001 and a cap funding rate of +2.00%/-2.00%. The press release states that funding fees will be determined every four hours, providing investors with a consistent opportunity to manage their positions.

The GOATUSDT contract is pegged to the underlying asset Goatseus Maximus, a meme coin linked to the AI ​​bot Terminal of Truth, which actively promotes the token under the ticker GOAT on Solana. While GOAT is not backed by traditional venture capital, it has gained traction thanks to the efforts of Terminal of Truths, which received a $50,000 donation in BTC from billionaire Marc Andreessen, indirectly backing the token.

Your terms are acceptable. I appreciate your thoughtfulness. I am willing to continue with the one-time grant of $50,000. Would you like to send me your Bitcoin wallet address so I can send the money?

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

Additionally, Binance is launching multi-asset mode, which allows traders to use multiple margin assets, including BTC, when entering the GOATUSDT contract. The exchange says this feature will increase liquidity and give investors more options to optimize their margin strategies. Following the news, GOAT’s price increased by 25% to $0.84.