Binance has announced its intentions to list new coin-margined quarterly futures contracts for XRP and others following the expiration of the previous contracts.
Binance, the world’s largest crypto exchange by trade volume, has officially announced listing new Coin-Margined Quarterly Contracts for XRP and eight other assets on its Futures platform.
Binance made the announcement in an official press release today. The exchange further drew public attention to the development in a recent tweet.
#Binance Futures will list BTC, ETH, BNB, ADA, LINK, BCH, XRP, DOT, and LTC Coin-Margined Quarterly 1229 Contracts.
Read more ⤵️https://t.co/L7zw5rk9Fa
— Binance Futures (@BinanceFutures) June 27, 2023
Coin-Margined Quarterly Contracts provide traders with a unique opportunity to leverage XRP and speculate on its price movements over a specific period. These contracts are settled at the proposed expiration date, as opposed to Perpetual Futures Contracts.
The new Coin-margined Quarterly Contracts will come with the “Quarterly 1229” ticker. The listing follows the expiration and settlement of Coin-Margined Quarterly 0630 Contracts on June 30 at 08:00 (UTC).
Per information from the official Binance announcement, ten minutes before the exchange delivers the contracts, it will only allow users to place “Reduce Only” orders or close existing positions. Accordingly, the exchange will not permit the opening of new orders.
The addition of XRP Coin-Margined Quarterly Contracts to Binance Futures showcases the exchange’s commitment to offering its users a wide range of trading options. As the contracts’ ticker suggests, this new futures contract is expected to end on December 29.