Binance Futures Listing 75 X Leverage XRP Did Well Litecoin Slow Suspicion Around Price Action CZ ClarifiesJanuary 9, 2020
Binance recently announced that they are listing XRP on their Futures Trading Platform. Binance, the Malta-based cryptocurrency exchange, announced that they are listing Litecoin in their Futures Trading Platform and that the trading will commence from January 09, 2020.
Binance Perpetual Contracts 75x Leverage
The price of XRP improved after the announcement from Binance about the asset listing in the Futures Trading Platform; however, the same is not the case with Litecoin. Of note, this is a perpetual contract. Binance had provided perpetual listing for “Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), EOS (EOS), and Ripple (XRP)” and LTC is the sixth in the list for perpetual contracts. Bitcoin provides 75X Leverage on the contracts.
For criticisms like insider trading going on in Binance, Changpeng Zhao, the CEO of Binance, denied the assumptions. He further clarified that the contracts were added to the API much ahead of time in a way visible to all. However, the difference in the price improvement of XRP versus LTC just a few hours before the announcement does not seem to favor the CZ statement. The trends suggest the widespread assumption of insider trading.
Binance Futures – No suspicious Price Action
CZ stated: “FUD. 1 Contracts are added to the API ahead of time, anyone can see it. 2 These are top 10 cryptos traded on many exchanges, with high liquidity. Addressing this once and for all, @Binance Futures will add most of the top 20 cryptos soon.
The CEO knew that similar assumptions are to germinate in the future on further listings. Therefore, he gave a wholesome clarification stating that Binance Futures will add the top 20 cryptos soon. This means he wishes to establish that the same will be the reply to questions on future rallies for newly listed asset types.
The CEO well knew that the suspicions are going to be never-ending. He wished to put an end to such comments, therefore giving a generic declaration for more listings. The statement by the CEO implies an affirmative understanding means critics will continue to criticize, and the CEO will refer back to his clarification of “top 20 cryptos soon” over and over again in the future.
Also, he opined that suspicious price actions are not happening for the first time. Suspicions are quite familiar with cryptocurrencies, which are in the top 10 lists. The price action varies as the top cryptos get traded in top cryptocurrency exchanges.
However, the little action for Litecoin and the smaller spike in price action indicates there has been no strange pump. The suspicion of the pump for XRP continues.