Phemex and Binance Announce New TURBO Contract Listings

Twitter icon  •  Published 1 month ago  •  Nikolas Sargeant

Phemex and Binance have both announced they will start new trading contracts that focus on the rising Turbo (TURBO) token.

Phemex and Binance have both announced they will start new trading contracts that focus on the rising Turbo (TURBO) token. Both platforms will offer the contract with up to 50x leverage.

Turbo (TURBO) is a cryptocurrency designed to integrate artificial intelligence (AI), creativity, and community. It operates as a decentralized community driven by creative initiatives and governed by AI.

Phemex’s New Turbo Contract

Phemex announced they added the TURBO token to their platform. This move is part of their plan to offer more trading choices and meet the increasing need for different cryptocurrency assets. Phemex, a top crypto exchange famous for its strong trading system and focus on users, said that this new listing will give traders more chances to take part in the quickly changing cryptocurrency world.

The Turbo token, famous for its quick price changes and big trading amounts, matches nicely with Phemex's goal to provide lively and different trading tools. By adding TURBO to their platform, Phemex hopes to bring in both beginner and experienced traders who want to take advantage of the ups and downs in prices and possibly make good profits from this token.

Binance’s TURBOUSDT Perpetual Contract

At the same time, Binance has said they will start a new USDT-margined TURBO perpetual contract. This will begin on May 30, 2024, at 15:30 UTC. With this new contract, traders can use leverage up to 50 times their investment. It gives big chances for those who want to increase their possible profits in the TURBO market.

Binance, famous for having many trading choices and good liquidity, made this contract to suit traders who want high-risk and high-reward chances. The TURBOUSDT perpetual contract will be open all the time, with a tick size of 0.000001 and a maximum funding rate of +/- 2.00%, settled every four hours. This frequent settlement ensures that funding rates remain manageable and reflective of market conditions.


Next article SparkDEX’s AMM & Perps Protocol to Launch on Flare


Nikolas Sargeant

Nik is a content and public relations specialist with an ever-growing interest in Crypto. He has been published on several leading Crypto and blockchain based news sites. He is currently based in Spain, but hails from the Pacific Northwest in the US.