Why do some Meme coin names in futures contracts have a 1000 prefix?
This is how I understand it: contracts with a 1000 prefix simply use a different quotation unit. The percentage change and price per coin are the same, but the order quantity and price are calculated per 1,000 coins.
The 1000 prefix is used for these contracts because the price per coin is very low and has too many decimal places, making it inconvenient to quote prices and place orders.
$PEPE corresponds to the trading pair 1000PEPEUSDT in Binance USDⓈ-M futures. The current price is 0.0₅468.
This is how I understand it: contracts with a 1000 prefix simply use a different quotation unit. The percentage change and price per coin are the same, but the order quantity and price are calculated per 1,000 coins.
The 1000 prefix is used for these contracts because the price per coin is very low and has too many decimal places, making it inconvenient to quote prices and place orders.
$PEPE corresponds to the trading pair 1000PEPEUSDT in Binance USDⓈ-M futures. The current price is 0.0₅468.