Binance Launches the Bitcoin Dominance Perpetual Contract, BTCDOM
Binance has launched its new Bitcoin Dominance perpetual settlement, BTCDOM The BTCDOM contract can have a maximum leverage of 25x and use Tether (USDT) as collateral BTCDOM is a cryptocurrency index evaluating Bitcoin to the top 20 virtual belongings on Binance by means of market cap, with the exception of stablecoins The BTCDOM index is uncapped which means it may possibly trade beyond the ZERO – ONE HUNDRED% vary of the common Bitcoin dominance Buying And Selling will begin on June 21st at 3:30 am UTC
the popular crypto alternate of Binance has announced that it’s going to be launching a new perpetual that tracks Bitcoin’s dominance within the crypto marketplace. The perpetual contract, known as Bitcoin Dominance (BTCDOM), is an index that measures the dominance efficiency of Bitcoin as opposed to the top twenty virtual assets on Binance. in phrases of marketplace capitalization. The index will exclude all stablecoins.
25x Max. Leverage, Tether (USDT) To Be Used as Collateral
The Bitcoin Dominance (BTCDOM) perpetual contract can have a maximum leverage of 25x and will use Tether (USDT) as collateral. Trading of the BTCDOM Perpetual contract will commence on the 21st of June at 3:30 am UTC.
Bitcoin Dominance (BTCDOM) is Uncapped
Unlike the frequently known Bitcoin Dominance with a range of 0 to ONE HUNDRED%, the BTCDOM index will probably be uncapped to make it stronger for derivatives buying and selling.
consistent with the team at Binance, the Bitcoin Dominance (BTCDOM) index will degree the call for for Bitcoin relative to the top 20 altcoins. While Bitcoin profits market proportion relative to the altcoins, BTCDOM will gain value. Conversely, when altcoins achieve market percentage relative to Bitcoin, BTCDOM will lose worth.
within the state of affairs the place Bitcoin and the top 20 cryptocurrencies both drop or upward push in value on the same fee, BTCDOM will remain the same.
Weekly Rebalancing of BTCDOM and Special Changes
The BTCDOM index will likely be calculated using the weighted reasonable costs of its materials and will probably be rebalanced weekly to capture the present market stipulations.
within the case the place one constituent of the index faces drastic market stipulations corresponding to a delisting or a drop in business quantity, Binance will carry out a unique adjustment via either except for the affected virtual asset or recalculating its weight within the index.