Binance Lists SYN/USDT Perpetual Futures with 50x Leverage

IconCryptoNewsTerminal Staff16 Aug, 2024

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Binance Lists SYN/USDT Perpetual Futures with 50x Leverage

Binance, the world's leading cryptocurrency exchange, has announced the listing of SYN/USDT perpetual futures on its platform. The new futures contract will be available for trading on August 16 at 21:30 (KST). SYN is the native token of Synthetix, a decentralized synthetic asset issuance protocol. The token is used to collateralize the issuance of synthetic assets on the platform. The SYN/USDT perpetual futures contract will allow traders to speculate on the price of SYN with up to 50x leverage. This will provide traders with the opportunity to amplify their returns, but it also comes with increased risk. The listing of SYN/USDT perpetual futures on Binance is a sign of the growing interest in synthetic assets. These assets offer traders a way to gain exposure to a wide range of underlying assets, such as stocks, commodities, and fiat currencies, without having to purchase the underlying asset itself. Traders who are interested in trading SYN/USDT perpetual futures should be aware of the risks involved. The crypto market is volatile, and the price of SYN can fluctuate rapidly. Traders should only trade with capital that they can afford to lose.

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