Binance Announced Early Listing for a New Altcoin

The world's largest cryptocurrency exchange Binance has made a new development that has caught the attention of investors. The futures pre-market listing for the altcoin Monad (MON) is set to take place on Friday, October 10, sparking excitement among investors. According to Binance, a margin perpetual futures contract denominated in Tether (USDT) will begin for MON with a maximum leverage of 5x.

Monad stands out as a high-performance, Ethereum-compatible Layer 1 blockchain network, with a total supply set at 100,000,000,000 MON. The MONUSDT contract will begin trading on October 10 at 10:15 TLS.

During the pre-market period, Binance will use the average of the transaction prices from the last 10 seconds for the price calculation (Mark Price). If fewer than 21 transactions occur during this period, the price index will be determined based on the average price of the last 20 transactions. The pre-market trading contract will convert into a standard perpetual futures contract once Monad begins trading in spot markets. During this process, open positions and orders will be preserved, and no interruptions in trading features will occur.

The funding rates are initially set at +0.005% and will be updated every four hours. Once the pre-market process concludes, the funding rate will continue to be traded in the range of -2.00% to +2.00%. Binance also emphasizes that it may make changes to funding rates, maximum leverage, and margin requirements depending on market conditions.

Additionally, Binance announced that this futures contract supports the Multi-Assets Mode feature. With this feature, users will be able to trade using different collateral assets such as Bitcoin (BTC). In light of these developments, investors should closely monitor the performance of the Monad altcoin and market movements.