Horizen Gets Listed on Binance Futures and Binance Loans
On December 10, 2020, the Horizen team announced the listing of its ZEN token on Binance Futures and Binance Loans. Consequently, traders can now purchase ZEN/USDT perpetual contracts on the exchange. According to the announcement, users will be able to choose between 1-50x leverage. The contract is a USDT-margined futures contract.
Meanwhile, the digital asset has also become available as a borrowable asset on Binance Loans. The token is available in limited amounts, as reported in the announcement.
Crypto futures trading is becoming more popular, with Bitcoin and Ethereum leading the market. In futures trading, an individual can profit from market movements by going long or short on a futures contract.
When a trader expects the price of an asset to rise in value, he goes long by buying a futures contract. Conversely, betting on negative price actions in the future by selling a futures contract is the same as going short.
Unlike spot markets where traders only make a profit when the value of an asset rises, future contracts allow traders to profit from asset rise or falls.