Binance Futures On All Time High, Record $700 MM Trade Volume in 24 hrs

Binance futures
Binance futures

Binance Futures On All Time High, Record $700 MM Trade Volume in 24 hrs

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

Source- Skew Markets

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. 

Source- Twitter

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 have already reached No 2 spot in terms of 24-hour volume. 

Binance futures
Source: Twitter

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.

Source- Twitter

While Binance Futures climb at a fast pace, leading cryptocurrency derivatives exchange BitMEX only traded futures worth $948 Million, recording the lowest in months. 

Source- Skew Markets

 

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.

When will Binance Futures hit the 2nd spot? Let us know your views in the comments below!

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Binance Futures On All Time High, Records $700 M Trade Volume in 24 hrs
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Binance Futures On All Time High, Records $700 M Trade Volume in 24 hrs
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Leading cryptocurrency Exchange, Binance’s recently launched BTCUSDT Futures recorded a volume of $700 M on the 15th of October. 
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Author: Supriya Saxena

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.

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Supriya Saxena 195 Articles

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.

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