Binance Introduces New Quarterly Contracts and Ultimate Challenge for Binance Futures Users

On Friday, the world’s largest crypto exchange, Binance, announced that it will list new quarterly contracts USD-M and COIN-M on Binance Futures, with delivery on 0927. These contracts will exclusively support major cryptocurrencies, including Bitcoin (BTC) , Ethereum (ETH), BNB, XRP, Cardano (ADA), Chainlink (LINK) and others.

The crypto exchange has also decided to expand the Futures Ultimate Challenge, which consists of the Daily BTC Price Prediction and the Weekly Tesla Challenge for Binance Futures users. This initiative is part of Binance’s strategy to maintain liquidity on the crypto exchange and ensure smooth functioning of the market.

New futures contracts for BTC, ETH, ADA, XRP

In an official announcement on March 22, Binance unveiled the addition of USD-M and COIN-M Quarter 0927 Supply Contracts. Users can trade these contracts starting March 29 at 08:00 UTC.

The BTCUSDT Quarter 0927 and ETHUSDT Quarter 0927 delivery contracts will be settled in USDT. Binance offers a maximum leverage of 50x on both futures delivery contracts.

Meanwhile, COIN-M delivery contracts support BTC, ETH, BNB, ADA, LINK, BCH, XRP, DOT & LTC. The maximum leverage for BTC and ETH is 50x, and for other cryptocurrencies it is 20x.

“Users may only close their positions or place Reduce Only orders and are not allowed to open new positions ten minutes before delivery,” the announcement said.

Binance BTC price prediction and Tesla challenge

Due to the enormous interest among crypto investors, Binance Futures is extending the Futures Ultimate Challenge. The Daily BTC Price Prediction and the Weekly Tesla Challenge will start at 14:00 UTC on March 24 and end on April 21 at 13:59 UTC.

Binance is offering a 0.05 BTC token voucher for predicting the market price of the BTCUDT standing contract. In addition, users will receive Golden Tickets and have a chance to win a Tesla Model Y every week until the end of the promotional period. The exchange attracts significant trading volumes with such promotions, mainly due to zero-fee trading.

Data from Kaiko shows that the exchange is heavily dependent on trading without fees. The share of zero-fee trading volume recently reached 40%, the highest level since March last year.

Moreover, FDUSD is the second largest stablecoin by trading volume on crypto exchanges and is only traded on Binance. Fee-free trading on FDUSD pairs has mainly brought a large number of users to Binance.