XRP, ADA and Those 21 Communities Should Follow Binance’s Announcements!

Binance, the leading global cryptocurrency exchange, announced in its official announcement dated June 19 that it will launch USD-M and COIN-M Futures contracts on June 28. These new contracts will be processed within a few hours of the expiration and delivery of existing USD-M and COIN-M Futures contracts. Here are the details…

Binance changes contract rates with various altcoins

Global cryptocurrency exchange Binance announced exciting developments on June 19. Adding new quarterly futures contracts and lending options, Binance is also delisting some spot transaction pairs for reasons such as lack of liquidity. These developments mean new opportunities for investors and farewell for some assets.

• USD-M BTC and ETH: The minimum price change (tick size) of these contracts will be 0.1 and 0.01 respectively. The maximum leverage ratio was determined as 50x for both.
• COIN-M BTC, ETH, BNB, ADA, LINK, BCH, XRP, DOT and LTC:The minimum price change and maximum leverage ratios in these contracts are as follows:
  • BTC and ETH: 50x leverage, 0.1 and 0.01 tick size
  • BNB, BCH, LTC: 20x leverage, 0.01 tick size
  • ADA and XRP: 20x leverage, 0.0001 tick size
  • LINK and DOT: 20x leverage, 0.001 tick size

What are the expectations for XRP and ADA?

XRP and ADA prices are performing poorly compared to Bitcoin (BTC), Ethereum (ETH) and other altcoins. Both cryptocurrencies are currently trading at low reinforcement levels.

• ADA nearly halved its one-year rise and recently fell to $0.36. It’s currently trading around $0.40, almost at the pre-bull market lows in December. But a 5% jump in the last 24 hours has raised hopes of a strong recovery in the coming weeks.
• XRP, on the other hand, fell to its annual lowest level and lost all its gains. XRP, currently trading at $0.493, is below the critical spiritual support level. The lowest and highest levels of the last 24 hours were $0.4773 and $0.5078, respectively.

NOTE, there is also an announcement for cryptos like OMNI

Futures data over the last 24 hours shows that XRP and ADA investors gave mixed reactions due to the big option expiration date on June 28. Binance has added new cryptocurrencies to its flexible interest Binance Lending and VIP Lending services. The newly added cryptocurrencies are:

• Flexible Interest Binance Lending:BounceBit (BB), ConstitutionDAO (PEOPLE), IO.NET (IO), Notcoin (NOT), Omni Network (OMNI), Starknet Token (STRK), Wormhole (W) and zkSync (ZK)
• VIP Lending:BounceBit (BB), IO.NET (IO), Omni Network (OMNI) and zkSync (ZK)

Binance periodically reviews all listed spot trading pairs to protect users and ensure a high-quality trading market. It may delete selected spot process pairs due to factors such as low liquidity and process volume. According to the latest reviews, Binance will delete and halt the following spot trading pairs as of 06:00 UTC on June 21, 2024:

• BETA/BTC
• SEI/TUSD
• TIA/TUSD