Binance Futures has announced the launch of the ORDI perpetual contract, a new addition to its trading platform. The ORDI perpetual contract will be USDC-margined and will offer leverage of up to 75x. The financing rates for the contract will range between +2.00% and -2.00%, with funding fees being calculated every four hours. Traders will also be able to enjoy a 10% discount on trading fees for all USDC margined futures contract trades until April 03, 12:30 pm (UTC).
As a result of this news, the ORDI token has experienced significant growth, with a 6% increase in the last 24 hours. The token is currently being traded at $72.6, while its trading volumes have risen by 13% to $159.46 million. Market capitalization has also seen a boost, rising by 5.6% to $1.52 billion, according to CoinMarketCap.
The ORDI token is part of the Ordinals protocol, a framework that allows the creation and transfer of digital assets on the Bitcoin blockchain through the use of BRC-20 tokens. Initially introduced as a meme coin unrelated to the Ordinals protocol, the ORDI token has emerged as the leading token of the project.
Overall, the launch of the ORDI perpetual contract on Binance Futures is expected to generate further interest and trading activity for the ORDI token and increase its prominence within the crypto market.