Big news from Binance, the crypto exchange everyone’s talking about! They’ve just dropped an announcement that’s got investors buzzing: they’re diving into the Bitcoin staking protocol, Babylon (BABY). Just this past Saturday, April 5th, Binance let everyone know they’re gearing up to launch BABYUSDT perpetual contract trading – and soon! If you’re looking to jump into this fresh opportunity, here are the important details you need to know.

Binance Announces Futures Listing For Babylon

Get ready traders! Binance has officially announced that their ‘Futures’ section is expanding its offerings to include a BABYUSDT perpetual contract. Starting today, 13:30 UTC, Binance’s massive community of users can start trading this new contract with leverage up to 5x.

Let’s talk specifics. The funding rate for BABYUSDT is capped at +2.00% / -2.00%. For those new to Babylon, it’s a protocol built around Bitcoin staking, allowing you to stake your BTC and earn rewards in return.

Why Did Binance Add BABYUSDT?

Binance themselves explained their reasoning in the announcement: they’re all about giving users more trading options on their platform. This crypto giant is clearly focused on solidifying its global position by tapping into exciting new markets across the crypto sphere.

What’s More?

Here’s something important to note: Binance will be using the ‘Mark Price’ method during the pre-market futures trading for BABYUSDT. This perpetual contract is starting out as a pre-market offering, meaning the price is strategically calculated. If you’re curious to understand more about ‘Mark Price’, Binance has provided a link to the official announcement – definitely worth checking out!

Binance clarified that “Pre-market perpetual futures contracts will become standard perpetual futures contracts once a stable index price is achievable from the spot market.” They also reassured users that they will announce when pre-market trading will end separately, so no one is caught off guard.

In short, this added market support from one of the biggest crypto exchanges for the Bitcoin staking protocol, Babylon, is a significant development and it’s got the crypto community paying close attention.

Recent Listings On Binance Gain Traction

It’s also worth mentioning some other interesting additions recently on Binance. CoinGape reported just recently that Binance listed Broccoli, TUT, and four more cryptocurrencies, and they are now supporting trading for these as well.

On another note, it’s interesting that Binance has still held off on listing Pi Network, even though it’s become quite popular. Crypto watchers are always keeping a close eye on Binance’s new listings, trying to spot those emerging market opportunities early.

Looking ahead, other new and upcoming listings on Binance include Hyperliquid, Mantle, and Kaspa, among a growing list of others.

Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.