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

Published October 16, 2019 | Updated October 16, 2019

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!

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
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.
Supriya Saxena 216 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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