Binance Futures On All Time High, Record $700 MM Trade Volume in 24 hrs
October 16th, 2019
Leading cryptocurrency Exchange, Binance’s recently launched BTCUSDT Futures recorded a volume of $700 M on the 15th of October.
Binance Futures Records 3rd Highest Volume In Crypto Futures
Binance Futures further recorded its first 24 hr 100K BTC day on the 15th. On the 11th of October, Binance Futures recorded a new high trading volume- 16k BTC in an hour. Then, the volume recorded was the 4th highest in the crypto futures industry.
Interestingly, in a span of 5 days, Binance Futures managed to climb up the 3rd highest position. A tweet by AG Binance mentioned how Binance Futures are on a bull run and soon will reach the 2nd highest volume and the 1st position at the end of 2019.
Launched on the 2nd of September, Binance Futures have performed exceptionally well. Recently, the 24-hour trading volume of Binance’s futures markets was seen to have crossed 30,500 BTC. Denominated in USDT, the equivalent of this would come to over $250 MM. Further, the figures were also said to have exceeded those of Binance spot trading which recorded a relatively lower 24-hour trading volume of 219,868,241 million denominated in USDT.
While Binance Futures climb at a fast pace, leading cryptocurrency derivatives exchange BitMEX only traded futures worth $948 Million, recording the lowest in months.
First BNB ETP Launched
In another development, Binance and Amun AG – global leader in the issuance of cryptocurrency Exchange-Traded Products (ETP), have partnered together to launch a BNB ETP on the regulated segment of the SIX Swiss Exchange.
The product is designed to make the top- 10 cryptos accessible to audiences. Interestingly, this is the worlds’ first crypto-based product that can be purchased using a brokerage or a bank. The product has been issued on the Amun Onyx Platform. As a matter of fact, the new BNB ETP took about a month’s work to be created. Per the announcement, each new product will track 1.09890110 BNB and will trade at a starting price of approximately $20 – depending on market conditions.