Binance To Roll Out LINKUSD Quarterly Futures Contract

Malta-based cryptocurrency exchange, Binance has been taking a keen interest in altcoins. The exchange recently announced that it is all set to roll out LINKUSD quarterly 0925 Futures Contract. 

Chainlink [LINK] Adds New Feathers To Its Cap

Altcoins are having a ball since the beginning of July. While Bitcoin prolonged its struggle to breach 10K, lesser-known altcoins were seen beating the prominent ones. Altcoins like Litecoin [LTC] as well as Binance Coin [BNB] were pushed down the ladder as Chainlink [LINK] and Cardano [ADA] beat the former in terms of market cap and price change.

Chainlink [LINK] was touted as one of the best-performing assets of the recent altcoin rally. While other coins did exhibit significant changes in their price, LINK hit an all-time high of $8.74 on 15 July 2020. Looking at the price movement of this altcoin, several exchanges opened doors and extended their support for LINK. Malta-based cryptocurrency exchange, Binance took a step ahead and announced the launch of the LINKUSD quarterly 0925 Futures Contract.

The exchange shared the news with the community on Twitter. The tweet read,

#Binance Futures Will Launch #LINKUSD Quarterly 0925 (September 25th) Futures Contract With Up to 75x Leverage

— Binance (@binance) July 21, 2020

The exchange’s blog post further elaborated on the details pertaining to the announcement. Binance’s quarterly futures contract allows users to purchase or sell a crypto asset at a price that has already been set for a certain time period in the near future. The difference between quarterly futures contracts and other futures contracts like perpetual futures contracts is that the former will expire after a given point of time.

LINKUSD Quarterly 0925 futures contract is said to commence trading post 7:00 AM [UTC] from 22 July 2020. A leverage range of 1-75x would be available for users to choose from. Apart from LINKUSD, a quarterly 0925 futures contract of BTCUSD as well as ADAUSD can be found in the exchange.

Binance To Roll Out LINKUSD Quarterly Futures Contract 2
Source – Binance

The delivery date of LINKUSD quarterly 0925 futures contract is 25 September 2020.

Additionally, during the time of writing, LINK was trading at $7.42 with a 7.7 percent drop in its price over the last 24-hours. Despite its price slump, the altcoin has witnessed a 38.3 percent increase in the last 14 days.

Binance To Roll Out LINKUSD Quarterly Futures Contract 3
Source – CoinGecko

As the price of this altcoin caught the eye of many in the industry, the market cap of LINK witnessed a notable surge. The coin currently stands as the eighth largest cryptocurrency with a market cap of $2.84 billion.

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