Binance Futures Will Launch USDⓈ-M XVG Perpetual Contract With Up to 20x Leverage

Binance, the world’s largest cryptocurrency exchange by trading volume, shared a new announcement. Binance adds Verge (XVG), the most bullish product of recent days, to the futures market.

Verge (XVG) managed to experience a 500 percent increase in the last 20 days. These increases of XVG caught the attention of cryptocurrency investors. After Binance announced that it was adding XVG to futures, XVG was seen to be bullish again. XVG gained more than 10 percent with the announcement. Binance shared the following information in the announcement it shared on the subject:

Binance Futures will launch the USDⓈ-M XVG perpetual contract at 2023-07-05 12:00 (UTC), with up to 20x leverage.

On the other hand, the fact that XVG has increased by 6 times in the last 20 days may cause it to face heavy short positions with the opening of the futures.