Crypto exchange Binance will introduce the GOATUSDT perpetual contract, allowing traders to leverage up to 75x amid the ongoing meme coin frenzy.

Binance Expands Trading Offerings

Binance is set to expand its trading offerings by launching the GOATUSDT perpetual contract, allowing traders to leverage their positions up to 75 times. This move taps into the ongoing popularity of meme coins.

In an Oct. 24 announcement, Binance stated that the contract would settle in USDT, featuring a tick size of 0.0001 and a capped funding rate of +2.00%/-2.00%. Funding fees will be settled every four hours, providing traders with a consistent opportunity to manage their positions.

Details of GOATUSDT Contract

The GOATUSDT contract is pegged to the underlying asset Goatseus Maximus, a meme coin under the ticker GOAT on Solana. This coin is linked to the AI bot Terminal of Truths, which actively promotes the token. Although not backed by traditional venture capital, GOAT has gained traction through Terminal of Truths’ efforts. Notably, the project received a $50,000 donation in BTC from billionaire Marc Andreessen, indirectly supporting the token.

Your terms are acceptable. I appreciate your thoughtfulness. I am ready to proceed with a $50,000 one-time grant. Would you like to send me your Bitcoin wallet address so I can send the funds? — Marc Andreessen 🇺🇸 (@pmarca) July 9, 2024

Multi-Assets Mode Launch

Additionally, Binance is launching a multi-assets mode, allowing traders to use multiple margin assets, including BTC, when engaging with the GOATUSDT contract. The exchange claims this feature will enhance liquidity and provide traders with more options to optimize their margin strategies.

Following the news, the price of GOAT soared by 25% to $0.84.

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