Binance Bitcoin Futures Debuts with $170M Trading
Binance has launched a new futures platform, where speculators can bet on bitcoin price going down or up, after announcing it earlier this year. And service is already witnessing trading volumes worth hundreds of millions of dollars.
Looks like a strong start for Binance futures – $170mln trading in last 24h with max leverage 20x
— skew (@skew_markets)
Data analytics firm Skew tweeted a 24-hour trade report of bitcoin futures, showing Binance processing about $170 million worth of trades on the day of its debut. The figures almost matched the volumes recorded following Binance Futures beta launch. The Malta exchange noticed about $150 million worth of futurestransactions across the two test phases, which prompted it to go full-fledged on Friday, with a special gift attached.
“In order to show our appreciation for your continued support towards Binance Futures, all users will receive a 50% discount on trading fees when trading on Binance Futures for the first 3 months after the go-live date,” Binance in its blog post published Thursday.