By Tobi Loba
Binance, the largest cryptocurrency exchange by trading volume has some hours ago announced that Binance Futures will launch VeChain (VET) against Tether (USDT) Perpetual Contract.
The new development was passed across via the exchange’s official website and shared with its teeming followers and users on Twitter.
According to the exchange, trading will be opened for VET/USDT trading pair on 14th February 2020 at 08:00 AM (UTC). Binance added that users will be able to select between 1-50x leverage.
The Exchange shared this, “Binance Futures Will Launch VeChain VET/USDT Perpetual Contract. With Up to 50x Leverage.”
#Binance Futures Will Launch @vechainofficial $VET/USDT Perpetual Contract With Up to 50x Leveragehttps://t.co/Hj1kSFdAcV pic.twitter.com/eIckPMc5ex
— Binance (@binance) February 13, 2020
The exchange intensified that futures trading is highly risky due to the high volatility of cryptocurrencies in the market. There is a possibility for both great profits and significant losses.
Conclusively, Binance warned its users to trade responsibly, as the event of extreme price movement is liable to liquidate all margin balance in the users’ futures wallet.
ShareRing Integrates VeChain (VET)
A couple of days ago, the travel app ShareRing announced the integration of VeChain into its ecosystem. The integration has now given its customers the ability to purchase services like car rentals, hotels, tours, eVOA, insurance, and others on its platform.
The integration was seen as a welcoming development within the VeChain community, due to the exposure it will bring to the digital token VET, as new customers will be able to leverage its use cases.
VeChain shared this, “With the integration of VET within ShareRing’s ecosystem, VET tokens can be used to purchase services such as hotels, car rentals, tours, eVOA applications, insurance and more when the platform launches. Special thanks to CREAMethod for making the integration happen!”
With the integration of VET within @ShareRingGlobal 's ecosystem, $VET tokens can be used to purchase services such as hotels, car rentals, tours, eVOA applications, insurance and more when the platform launches. Special thanks to @CREAMethod for making the integration happen! https://t.co/8ReDEP9bZQ
— VeChain Foundation (@vechainofficial) February 4, 2020
VeChain presently occupies 30th position in the market. At the time of filing this report, VET is trading at $0.007830, with a 1.24% price increase in the last 24 hours.