Take a fresh look at your lifestyle.

Binance has announced the launch of perpetual futures for Bitcoin

0


Binance announced the launch of perpetual futures contracts for bitcoin with up to 125x leverage.

These are perpetual margined bitcoin futures and complement the range of derivatives available on Binance Futures with the aim of offering users greater diversification.

He first perpetual futures contract launched by the exchange almost a year ago it was denominated in USDT, and today it has the highest trading volume, with an average monthly market share of 37%.

The new perpetual contract, in bitcoin, is the second futures line of the platform which will marginalize itself and set a price using a cryptocurrency.

There are now quarterly and perpetual COIN margin futures contracts, also leveraged up to 125x, along with those with USDT margin.

Additionally, Binance Futures allows users to offset their margin for these two product lines.

The Vice President of Binance Futures, Aaron Gong, said:

“We are the only exchange that offers users flexible control of their margin balance, either by distributing it across all their open positions or by setting individual limits for each position they own (cross or isolated margin modes), as well as the ability to change your margin modes at any time. Our users can also choose to keep one direction (ie long or short) or both directions at the same time for coverage.

The founder and CEO of Binance, Changpeng Zhao, commented:

“As Binance Futures approaches its one year anniversary, we are encouraged by the response of our users to our platform and products. Shortly after hitting an all-time high of $ 13 billion in daily futures volume last month, we crossed the $ 1 billion mark in open interest last week. Our growth has been constant regardless of market conditions, and that is testament to our users' trust in us. We will continue to restore their trust by building the most innovative and user-centric products in the ecosystem. "

What are futures contracts

COIN futures contracts, or "reverse" margin contracts, are popular in the cryptocurrency industry because for users who are short, even if the price increases, the margin still increases.

Also, they are less likely to hit the closing price and can hold their trading position for longer.

This is achieved by setting the cryptocurrency as the primary currency of the contract, USD or USDT as the secondary currency, allowing cryptocurrencies to be viewed as commodities. Hence the definition of these contracts as "reverse margin".



Leave A Reply

Your email address will not be published.