Binance launches GOATUSDT contract with up to 75x leverage amid meme coin craze

Binance is set to launch the GOATUSDT perpetual contract, allowing traders to leverage up to 75x, capitalizing on the current meme coin craze.

In an announcement on October 24, Binance revealed that the GOATUSDT perpetual contract would settle in USDT and feature a tick size of 0.0001, with a capped funding rate of +2.00%/-2.00%. The funding fees will be settled every four hours, giving traders frequent opportunities to adjust their positions.

The GOATUSDT contract is linked to Goatseus Maximus (GOAT), a meme coin on the Solana blockchain associated with the AI-driven “Terminal of Truths.” The AI bot actively promotes the GOAT token, which, despite lacking traditional venture capital backing, has gained notable attention. The token’s promotion received a boost through a $50,000 BTC donation from billionaire Marc Andreessen, indirectly supporting its rise.

In addition, Binance is introducing a multi-assets mode for the GOATUSDT perpetual contract, enabling traders to use a range of margin assets, including Bitcoin (BTC). This new feature is designed to enhance liquidity and offer traders greater flexibility in optimizing their margin strategies.

Following the announcement, the price of the GOAT token surged by 25%, reaching $0.84.