Binance, one of the leading cryptocurrency exchanges, has announced the forthcoming listing of the ORDI perpetual contract on its Futures platform. Scheduled to debut on February 22, 07:00 (UTC), the ORDI perpetual contract will be USDC-margined, offering traders up to 75x leverage. This strategic move by Binance aims to expand its offerings and cater to the growing demand for diverse trading options within the cryptocurrency market.
ORDI token sees surge following Binance announcement
The ORDIUSDC perpetual contract will have a maximum financing rate of +2.00% and -2.00% at launch, with funding fee calculations occurring every four hours. Additionally, users trading USDC-margined futures contracts will be entitled to a 10% discount on trading fees until April 03, 12:30 pm (UTC). These features enhance the appeal of the ORDI perpetual contract, providing traders with competitive advantages and incentives to engage with the platform.
In response to the announcement, the Ordi token (ORDI) experienced a significant uptick, rising by 6% over the past 24 hours. Currently trading at $72.6, ORDI’s trading volumes surged by 13% to $159.46 million, while its market capitalization increased by 5.6% to $1.52 billion, according to data from CoinMarketCap. This positive market response underscores the growing interest in ORDI and reflects investors’ confidence in its potential as a trading asset.
Background and evolution
The ORDI token operates within the framework of the Ordinals protocol, which facilitates the creation and transfer of digital assets on the Bitcoin (BTC) blockchain through the BRC-20 standard. Initially emerging as a meme coin unaffiliated with the Ordinals protocol developers, ORDI has evolved into the primary token of the protocol and emerged as the largest among other BRC-20 tokens. This evolution highlights the resilience and adaptability of ORDI, cementing its position as a prominent player within the cryptocurrency ecosystem.
Binance’s decision to introduce the ORDI perpetual contract reflects its commitment to innovation and meeting the evolving needs of traders. With features such as USDC margins and competitive trading fees, the ORDI perpetual contract offers users enhanced flexibility and opportunities to capitalize on market movements.
The positive market response underscores the growing demand for diverse trading options and reaffirms ORDI’s status as a valuable asset within the cryptocurrency landscape. As the launch date approaches, anticipation mounts for the debut of the ORDI perpetual contract on Binance Futures, heralding a new chapter in cryptocurrency derivatives trading.
