Binance Futures has announced the launch of a new USELESSUSDT perpetual contract, offering up to 50x leverage and no expiry date. This listing expanded trading choices for users, causing a significant price surge of 6% in USELESS immediately following the announcement. While there were no noticeable effects on other major assets, this increase suggests growing market interest and activity around the new contract.
The launch of the USELESSUSDT perpetual contract was communicated through Binance channels. No further comments or actions from Binance leadership have been made.
Binance emphasizes its commitment to structured price discovery and liquidity management, aiming to maintain stable trading activities during this expanded list expansion. The move reflects a similar strategy used with volatile altcoins in the past.
This listing follows historical patterns of increased activity around new trading contracts, as seen with other altcoin introductions, indicating Binance’s consistent influence on derivatives trading. Binance also reminds users about potential risks associated with high leverage, encouraging them to use stop-loss orders to mitigate any potential adverse effects.