Binance Futures has once again recorded a new high trading volume. It has recorded a trading volume of 16K BTC in an hour. Interestingly, Binance Futures is not even a month old. As a matter of fact, the volume recorded is the 4th highest in the crypto futures industry.
Binance Futures on An All-Time High
Per a recent tweet by Binance AG, Binance Futures recently recorded a trading volume of 16k BTC in an hour. Also, the platform has the lowest taker fees coupled with the best matching engine and 0 ADLs.
Also, 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.
A Look At The State of “Futures”
Per a recent tweet by CME, despite the decline in Bitcoin prices, customer interest in CME Bitcoin futures remained strong during Q3 with daily Open Interest (OI) of over 4.6K contracts, up 61% vs Q3 2018.
Also, on the 9th of October, the trading volume of Bitcoin (BTC) futures on the Intercontinental Exchange’s (ICE) Bakkt platform reportedly soared to 224 contracts on Oct. 9, recording an increase of 796%.
Will the US Markets Soon see Ether Futures?
Yesterday, Commodity Futures Trading Commission (CFTC) Chairman Heath Tarbert in All Markets Summit by Yahoo Finance hinted on Ether Futures trading in the US markets in the near future.
Tarbert in the summit also said that CFTC had always been clear on Bitcoin and the fact that it is a commodity. He further mentioned that per his view as the Chairman of the CFTC, Ether is a commodity, thus, resonating with SEC’s previous ruling that Bitcoin and Ether are not securities. Furthermore, he said that CFTC is working in close cooperation with the SEC to provide clarity on these issues.
Will Binance Futures overtake the top players in the crypto industry? Let us know what you think in the comments down below.
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Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.