Binance is launching pre-market futures for Meteora.

The world's largest cryptocurrency exchange Binance announced that it will carry out a pre-market listing for the altcoin Meteora (MET) in futures trading. As of October 23, 2023, at 17:00, Binance will launch Tether (USDT) margin perpetual futures trading with a maximum 5x leverage on the METUSDT contract.

Meteora draws attention as a platform aimed at increasing the liquidity efficiency of decentralized finance (DeFi) protocols. The total supply of the token has been set at 100,000,000 MET. Binance announced that price fluctuations will be capped at ±%1 every second for price calculations during the pre-market period, and open positions and orders will be protected during this process.

When sufficient data is generated in spot markets, it is expected that the price index will gradually transition to a standard mark price calculation. Additionally, it was emphasized that after the pre-market trading ends, the funding rates will start to operate according to the standard perpetual futures contract rules. With this development, the maximum and minimum funding rates will be set at +%2.00 / -%2.00.

Binance noted that the new futures contract supports the Multi-Assets Mode feature, thus allowing users to trade with different collateral assets such as Bitcoin (BTC). This situation offers more flexibility and opportunities for investors.

It is important for investors to closely follow the developments regarding Meteora (MET). Observing price fluctuations and trading volume, especially during the pre-market trading, will be a significant factor influencing investment decisions. There are important details to be considered for those who will invest according to the procedures and limits set by Binance during this process.