Coin An will go online with ID 1-20 times the U standard perpetual contract

On March 23rd, according to an official announcement, Coin On announced that it would launch the ID1-20 times U-standard perpetual contract at 22:30 Beijing time on March 24th, 2023.

Interpretation of this information:

The announcement by Coin On on the launch of the ID1-20 times U-standard perpetual contract signals the company’s drive to enhance its offerings and stay competitive within the cryptocurrency market. The perpetual contract is designed to offer users the ability to trade the price differential between ID1 and U coins, allowing them to benefit from market volatility.

The ID1 coin is a stablecoin that is backed by the Chinese yuan, making it immune to price fluctuations that characterize other cryptocurrencies. By contrast, the U coin is a more volatile cryptocurrency, with its price determined by market forces. By offering its users the ability to trade the price differential between these two coins, Coin On is providing a unique opportunity for market participants to profit from market fluctuations.

The launch of the ID1-20 times U-standard perpetual contract comes at a time when the cryptocurrency market is experiencing significant growth, with more investors and participants joining the market daily. In addition to offering users the ability to trade perpetual contracts, Coin On is also looking to expand its offering of cryptocurrency trading pairs, ensuring that users have access to a wide range of assets.

In summary, the announcement by Coin On on the launch of the ID1-20 times U-standard perpetual contract has important implications for the cryptocurrency market. It shows that the company is focused on expanding its offerings and remaining competitive in the market. The contract presents a unique opportunity for users to benefit from market volatility, as it allows them to trade the price differential between two coins with different characteristics.