Digital Currency
Add as a preferred source on GoogleThe futures product uses Tether (USDT) for settlement and permits leverage up to 10x. A contract does not give its holder ownership of Alibaba shares.
A $100.99 reading for Binance’s BABAUSDT perpetual futures contract on Oct. 28 reflects the value of a derivative tied to Alibaba’s U.S.-listed ADR, not the share price itself.
The futures contract and the ADR have separate prices. Tether (USDT) is used for settlement, and the contract remains available all day, every day, with leverage capped at 10x. Holding it does not give traders ownership of Alibaba shares.
EconoTimes has previously covered Binance’s Alibaba-linked futures product.
Ether traded at $2,310.63, down 2.10% over 24 hours, as of 02:21 UTC Oct. 26.
The entry dates the close to 10:15 a.m. ET (14:15 UTC) Oct. 24 and lists $80,419 as the liquidation price.
JPMorgan analyst Alex Yao retained an Overweight rating in his Oct. 12 revision. Binance's separate BABAB token is unavailable to U.S. persons.
