by John Smith 700 million dollars of Bitcoin Futures traded in one day on Binance!
Record hit for Binance and its Bitcoin Futures Bitcoin BTC, the billion dollar in Bitcoin Futures is not far.
Binance, which has recently arrived on this market dominated by Bitmex and has therefore taken part of this market to compete on these Bitcoin BTC futures contracts.
Skew, a company specialized in crypto data analysis, published these numbers in a message on Twitter:
Binance just had a record volume day for its newly launched BTCUSDT futures product : $700mln+ traded on the 15th pic.twitter.com/w0MX0csBEt
— skew (@skew_markets) October 16, 2019
This record of $700 million in Bitcoin BTC derivatives traded in one day on Binance would have been reached on October 15, 2019.
The CEO of Binance, Changpeng Zhao must be smiling, Binance launched in September with two test platforms (Futures A and Futures B).
Binance Bitcoin Futures platform is just behind BitFlyer, Huobi and BitMEX which is headed by the famous Arthur Hayes who recently predicted a Bitcoin BTC back to $20,000 in the short term.
Binance is already above Deribit and Bybit who are also trying to do business in Bitcoin Futures trading.
Binance explains its success by highlighting its reputation, liquidity on its Bitcoin Futures platform but also its low trading fees and a high-performance technology compared to the competition precisely.
In particular, Binance acquired Jex, a company specializing in derivatives trading.
With this growth in trading volume of its Bitcoin Futures, Binance may consider catching up with Bitmex, the leader in this business.
This is certainly the goal set by Binance CEO Changpeng Zhao.
Binance who was caught copying the Bitmex documentation!
Binance is active cryptocurrency business activitiess beyond Bitcoin Futures with the recent launch of its staking platform but also its Binance lending platform.
We will soon know if Binance will manage to dethrone Bitmex from its leading position in Bitcoin Futures trading.
