Binance, the world's leading cryptocurrency exchange, launched its first futures contract with a quarterly expiration date. The contract is now available on its derivatives trading interface: Binance Futures.
Binance officially launched your first cryptocurrency futures contract that has a pre-set expiration date. It is a quarterly BTC / USD futures contract that traders can contract with leverage of up to 125x.
The new contract is now available on the exchange derivatives trading platform, Binance Futures, but the launch in the mobile version will come "at a later date."
“The contract is settled in the BTC asset denominated and will expire on the last Friday of the corresponding three-month period. The BTCUSD quarterly futures contract is labeled "BTCUSD Quarterly 0925", indicating that the expiration date is set for 2020/09/25 8:00 AM UTC. "
In addition, users will receive a 30-day discount on the manufacturer's fee and pay 0.020% on the buyer's fees when negotiating this contract from June 11 to July 10.
The main difference of the new contract with the perpetual ones already available in Binance Futures is the pre-established expiration date.
Constantly growing Bitcoin derivatives
At this point, it's clear that the bitcoin derivatives market has been in the spotlight as more and more exchanges offer a variety of products in the field. According to him monthly business report From Binance Futures, on its platform alone, volume has been growing for four consecutive months.
In May alone, the exchange registered a volume of $ 137 billion, which is 37% more than in April. However, trading volumes declined after halving as Bitcoin's price was consolidating in a relatively narrow range.
At the same time, the open interest it increased after halving, suggesting, at the time, that market participants expected more volatility to enter.
Still, Bitcoin worked very well after halving.. Its price increased from around $ 8,850 to where it is currently trading at $ 9,357, registering gains of approximately 5.7%.