Binance Adds New Altcoin to Platform: Kadena Soars!

Binance, a leading name in the crypto market, continues to expand its trading options for users. On September 18, 2024, Binance Futures will introduce the KDAUSDT Perpetual Contract, offering an exciting new opportunity for investors. This contract, based on Kadena (KDA), stands out by offering leverage up to 75x, making it attractive for both seasoned traders and newcomers. In this article, we provide all the essential details about this new offering.

What is Kadena (KDA)?

Kadena is a blockchain platform that prioritizes scalability and security. Offering fast and low-cost solutions suitable for developers and businesses, Kadena has become an appealing choice, particularly for companies requiring high transaction volumes. With its innovative approach to blockchain technology, Kadena has been gaining attention in the crypto space due to its growing user base and expanding applications.

Binance Launches Perpetual Contract for Kadena

Binance Futures is moving forward with broader investment options by launching the KDAUSDT Perpetual Contract on September 18, 2024, at 13:30 UTC. This perpetual contract is based on Kadena (KDA) and is traded against USDT, offering up to 75x leverage. With this leverage, investors can trade with the equivalent of $75 USDT while only committing $1 USDT. Here are the key features of the KDAUSDT Perpetual Contract:

• Trading Asset: Kadena (KDA)
• Settlement Asset: USDT
• Minimum Trading Unit: 0.0001
• Maximum Leverage: 75x
• Funding Rate: +2.00% / -2.00% (every 4 hours)
• Trading Hours: 24/7
• Multi-Asset Mode: Supported

This contract offers investors the opportunity to take advantage of market volatility and earn significant returns. However, it’s important to note the risks of using high leverage. Funding fees are collected every four hours, with an initial maximum rate of +2.00% / -2.00%.

Kadena’s Price Surge

Binance Futures’ Multi-Asset Mode allows traders to utilize different margin assets for the KDAUSDT perpetual contract. For instance, when this mode is activated, traders can use other assets like BTC as margin. This flexibility offers a key advantage for users looking to diversify their portfolios. Following the announcement of the KDAUSDT Perpetual Contract, Kadena’s price experienced a sharp increase. According to market data, Kadena surged by 37.6% in just one minute, reaching $0.64. This sudden price movement demonstrates the rising interest in Kadena and the positive market impact of Binance’s new contract.

This price increase is directly linked to the upcoming launch of Binance’s KDAUSDT perpetual contract. As the contract goes live, Kadena could see further momentum. High-leverage trading has the potential to increase market volatility, leading to rapid price changes. Therefore, it is crucial for investors to manage their risks carefully and keep a close eye on market conditions.