Binance Futures is set to launch FETUSDT perpetual contracts with leverage up to 20X on January 17, 2023. The contract specifications, including maximum leverage and initial margin, may be adjusted by Binance as market risks evolve. Traders will have the option to trade FETUSDT Perpetual Contracts using multiple margin assets through Multi-Asset Mode, with BUSD being one of the accepted margins. This move comes at a time when interest in AI-related cryptocurrencies is on the rise, driven by the buzz surrounding the AI platform ChatGPT.
The token AGIX from SingularityNET has seen impressive growth, with a 198.15% increase in the past week and a 220.42% increase in the last 30 days. Fetch(FET) has also experienced significant gains, surging by 82.17% in the past seven days and 147.73% in the past month. FET is the native token of Fetch.AI, an AI lab dedicated to building an open, permissionless, decentralized machine learning network. The top 59 AI coins, with a combined market cap of $1.18 billion, have collectively witnessed a 52.09% increase in the last week.
The recent surge in AI-related cryptocurrencies has led some traders to speculate that Binance may soon introduce an AI index in futures trading. This speculation is fueled by the upcoming launch of FETUSDT perpetual contracts by Binance Futures and the overall positive performance of AI coins in the market. The AI index could potentially provide traders with a broad exposure to various AI-related tokens, allowing them to diversify their portfolios and capitalize on the growing interest in artificial intelligence technologies.
Binance Futures’ decision to launch FETUSDT perpetual contracts comes at a time when the AI market is experiencing heightened attention and investment. With the impressive growth of AI-related cryptocurrencies like AGIX and FET, traders are increasingly looking for ways to leverage these market trends. By offering FETUSDT perpetual contracts with up to 20X leverage and the option to trade across multiple margin assets, Binance is catering to the growing demand for AI-related trading opportunities.
As the AI market continues to evolve and attract more investors, the launch of an AI index in futures by Binance could further boost interest in AI-related cryptocurrencies. The potential introduction of an AI index would provide traders with a convenient way to gain exposure to a diversified portfolio of AI tokens, further expanding their trading options on Binance Futures. With the positive performance of AI coins in recent weeks, the launch of an AI index could be a strategic move by Binance to capitalize on the growing popularity of artificial intelligence technologies in the cryptocurrency market.
Discussion about this post