Binance’s Bitcoin Futures platform is seen to have made incredible gains within the first few days of its launching. In fact, the platform has outperformed the Binance.com spot market in terms of BTC trading volume within the last 24 hours.
Binance Futures’ Volume Exceeds Binance Spot Trading
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. On October 3rd, Binance took to their official Twitter handle to reveal this rather impressive performance from their new establishment, Binance’s futures markets.
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.
Binance Spot Trading Lost 20% In 24 Hours
Binance spot trading was seen to have lost considerably within the last 24 hours according to figures derived from CoinMarketCap. As suggested, this may be a result of BTC struggling with the bearish markets and traders trying to predict the future price movements, thereby shifting attention towards futures trading.
Within the last 24 hours, Binance.com’s trading volume sank, losing about 22% in the process. This brought the 24-hour trading volume to lows of around $624.9 million, brining the exchange to down to the 14th rank in terms of daily traded volume.
Binance Futures 200,000 USDT Giveaway
According to an official announcement on the 23rd of September, Binance Futures was giving up to 20 USDT. As a welcome bonus to all, Binance’s new futures trading platform Binance Futures launched a 200,000 USDT giveaway. Users Transferred 10 USDT to their futures account to get 10 USDT for free, then got another 10 USD when they transferred 500 USDT.
Also, the platform has introduced new features, such as visual depth in one screen, fullscreen K-line, drawing tool in TradingView, and 24h volume display.