Binance, one of the globe’s leading cryptocurrency exchanges, continues to innovate and expand its offerings to enhance user experience and diversify trading options. In September 2024, Binance unveiled significant updates that present remarkable opportunities for both investors and traders. These developments include the launch of the RPLUSDT perpetual contract, support for the Enjin Coin network update, and the listing of a new Euro stablecoin, Eurite (EURI). Below, we delve into the specifics of these announcements.
A New Product from Binance Futures
Binance Futures has introduced an exciting new perpetual contract aimed at providing users with a broader range of trading options and enhancing their trading experiences on the platform. Launched on September 9, 2024, at 12:30 UTC, the RPLUSDT perpetual contract allows investors to trade the Rocket Pool (RPL) asset. This new contract enables traders to leverage up to 75x, offering high-profit potential for both short and long positions.
RPLUSDT Perpetual Contract Details:
- Trading Pair: RPLUSDT
- Start Date: September 9, 2024, 12:30 (UTC)
- Leverage: Maximum 75x
- Exchange Asset: USDT
- Trading Hours: 24/7
- Multi-Asset Mode: Supported
- Maximum Funding Rate: +2.00% / -2.00%
This contract permits traders to engage with leverage in the highly volatile Rocket Pool (RPL) asset. Funding fees are calculated every four hours to establish the rates necessary for traders to maintain their positions. For instance, on September 9, 2024, at 16:00 UTC, the funding rate was set at +2.00% / -2.00%. Coinciding with these developments, Rocket Pool’s price surged, reaching $12.29 with a daily increase of 30.29%.
Support for Enjin Coin (ENJ) Network Update
Binance remains vigilant regarding network updates for tokens listed on its platform to ensure optimal user experience. On September 9, 2024, Binance announced an update for the Enjin Coin (ENJ) network, expected to occur at block height 6,678,271 and anticipated to be completed around 13:00 UTC.
During this update process, deposits and withdrawals via the ENJ network will be temporarily halted. Binance will manage all technical aspects of the network update, allowing users to avoid any technical complexities. Once the network is confirmed to be stable post-update, deposits and withdrawals will resume. No further announcements will be made after the update is finalized.
Eurite (EURI) Stablecoin Listed on Binance
In another significant move, Binance has listed a new Euro stablecoin, Eurite (EURI), which became available for trading on August 28, 2024. EURI is particularly notable for users within the European Economic Area (EEA). Regulated by MiCA (Markets in Crypto-Assets Regulation), EURI is developed in accordance with the comprehensive regulations governing crypto asset markets in the European Union. These regulations ensure investor confidence, transparency, increased financial stability, and reduced legal risks.
Key Facts About Eurite (EURI):
- Issuer: Banking Circle S.A.
- Regulator: MiCA (Markets in Crypto-Assets Regulation)
- Transfer Fees: 0 commission on Euro transfers via SEPA (valid from September 5, 2024, to October 5, 2024)
