Binance has announced the launch of the USD-Margined GOATUSDT Perpetual Contract, scheduled to go live today, October 24, 2024, at 13:30 (UTC). This new trading option will offer users the ability to leverage their positions by 75x, marking a significant opportunity for traders and investors looking to maximize their potential returns.
Just In: Binance announced that it will launch GOATUSDT perpetual contract with up to 75x leverage at 21:30 UTC+8 on October 24, 2024. Goatseus Maximus is an AI-based memecoin. https://t.co/dMmhifIwtQ
Binance Announcement of the Listing (Source: X Post)
The GOATUSDT contract is based on Goatseus Maximus, an innovative AI-driven memecoin that has captured the attention of the crypto community. To participate in trading GOATUSDT, users will need to meet a minimum order size of 0.01 contracts and can hold a maximum position limit of 1000 contracts per user. The initial margin requirement is set at 1.33%, allowing traders to enter positions with relatively low capital outlay.
What makes GOATUSDT unique?
This perpetual contract stands out in the market due to its unique combination of features. Unlike many traditional memecoins, which often lack staunch backing or utility, GOATUSDT is associated with Goatseus Maximus, an AI-driven concept proposed by a semi-autonomous Twitter account called Terminal of Truths. This integration of artificial intelligence adds a layer of innovation and engagement that is uncommon in the memecoin space.
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Key aspects that make the contract unique are its high leverage capacity, perpetual nature, funding rate mechanism and market accessibility. Overall, the GOATUSDT perpetual contract leverages the popularity of memecoins but also incorporates advanced trading features that appeal to both casual and professional traders in the market.
Introduction on Other Exchanges
The introduction of GOATUSDT follows a trend among major exchanges, with platforms like OKX and Bybit also announcing similar contracts today, but with lower leverage options. OKX’s version will go live at 17:00 UTC, while Bytbit offers a contract with up to 12.5x leverage.
Memecoins have become insanely popular in the crypto market these days and they are often driven by community engagements along with social media trends. Goatseus Maximus aims to capitalize on this phenomenon by leveraging AI technology to enhance user interaction and trading experience. As Binance continues to expand its offerings, this launch reflects the growing demand for innovative trading products within the crypto space.
