Binance Futures has introduced a new trading option, listing the SAFEUSDT perpetual contract on October 25, 2024, at 12:30 (UTC). The contract allows users to trade Safe (SAFE) against USDT with leverage of up to 75x.
This listing is part of Binance’s broader effort to provide users with a wider range of trading instruments, catering to the growing interest in Safe and other emerging tokens.
The SAFEUSDT perpetual contract operates 24/7 and includes a funding rate that is capped at +2.00%/-2.00%, with settlements occurring every four hours. Traders also have access to Binance’s Multi-Assets Mode, which allows them to use different margin assets, including Bitcoin (BTC), when trading this contract.
Following the announcement, the price of Safe saw a 10% increase within minutes, building on its 85% gain over the past week. Traders have been closely monitoring the Safe token as it continues to gain attention within the decentralized finance (DeFi) space. The Safe ecosystem has been recognized for its role as a smart account platform, securing over $100B in assets and supporting more than 200 projects.
Trader Profits $140K in Minutes After Binance Listing
Following the listing of another token on Binance Futures, a trader reportedly made $140,000 within 20 minutes by swiftly executing a trade on Binance’s platform. The trader used 1,300 SOL to buy 2.77 million MOODENG tokens and then quickly sold them, turning a rapid profit of 809 SOL.
This trading strategy, based on reacting immediately to Binance’s new listings, highlights the potential rewards but also underscores the inherent risk in such high-stakes futures trading. A similar strategy earned the trader $17,000 the day before with the listing of the GOAT perpetual contract.
While these rapid gains demonstrate the opportunities in futures trading, they also reveal the significant risks, particularly when using high leverage. Large profits or losses can occur in a matter of minutes, and traders need to carefully evaluate their risk tolerance before engaging in these markets.
What Is Safe (SAFE)?
Safe (SAFE) is the native token of the Safe ecosystem, a platform known for being the largest smart account ecosystem on the Ethereum Virtual Machine (EVM). Safe provides infrastructure for decentralized applications (dApps) and decentralized finance (DeFi) projects, offering a secure and flexible environment for users and developers.
