Binance Rolls Out Ethereum Futures Platform After Record-Breaking Bitcoin Volume
Malta-based Binance, a leading cryptocurrency exchange, is introducing Ethereum (ETH) futures contracts with up to 50 times leverage, allowing traders to bet for or against the future price of Ether.
The ETH futures contracts will be tradable against stablecoin Tether (USDT).
According to the announcement, the exchange is offering a 50% trading fee discount on all Binance futures contracts until December 13, 2019.
Binance says trading on the BTC/USDT and ETH/USDT perpetual contracts is similar to the existing BTC/USDT and ETH/USDT trading pairs on the spot market. Both are “priced and settled in the same manner.”
The team adds,
“Binance allows for highly leveraged trading using a sophisticated risk engine and liquidation model. This number will change depending on the size of the position – the larger the position, the lower the leverage allowed.”
On October 15, 2019, Binance set a new all-time record for its BTC/USDT futures by trading more than $700 million worth of contracts.
Binance’s futures trading volumes have been increasing steadily. The exchange’s current daily BTC futures trading volume stands at 185,835 Bitcoin worth $1.4 billion, which is about 40% greater than Binance’s total spot trading volume.
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