In a recent tweet, Binance shared that it has launched ETH/USDT contracts with up to 50x leverage on its Futures Testnet, enabling users to trade with significant margin without risking any real assets.
Up to 50x leverage ETHUSDT contracts are now LIVE on the #BinanceFutures testnet!
— Binance (@binance) November 23, 2019
In response to the launch, Binance CEO Changpeng “CZ” Zhao jokingly said, “Better get rekted on the testnet. Multiple contracts coming online soon for Binance futures.”
CZ’s joke echoes a previous statement he made in response to Binance increasing the maximum leverage that investors can use for its Bitcoin (BTC) futures contracts to 125x. At the time, CZ took to Twitter to warn users about the risks of trading on margin, suggesting new traders stay away from the functionality.
The addition of Ethereum contracts would mark the first high-leverage alternative to Bitcoin on Binance’s burgeoning futures platform
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Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.