The largest cryptocurrency exchange in the world by trading volume, Binance, is considering adding futures contracts on its new “Binance Futures” platform with initial support for BTC/USDT contracts at a leverage of up to 20x.
The article was updated on 15 November, 2019 by Amicus.
2 July, 2019 | AtoZ Markets – “Binance will be launching a futures platform very soon. I don’t have the exact date yet. The simulation test version will be live in a few weeks,” the Founder and CEO of Binance, Changpeng Zhao, announced during a presentation at Asia Blockchain Summit in Taipei on Tuesday. The announcement drew the users’ and crypto community’s attention to start tweeting of Binance Future trading platform.
Binance 20x leverage
According to Pomp, the Co-founder & Partner at Morgan Creek Digital, “Binance will first support BTC/USDT trading pair with 20x leverage as seen in the screenshot shared by Binance. More trading pairs and leverage will be announced in the future after the launch. It plans to launch the test in about two weeks from now. The futures trading feature comes after the firm rolled out margin trading on the platform last month.”
Margin trading will roll out to all users first (around July 11 or so), then futures testnet will come about a week after that. Binance is currently in the process of rolling out its margin trading offering, joining several other crypto exchanges (Bitfinex, Poloniex, Huobi, Kraken) that support margin already.
Binance recently announced lowering the fees
In recent connected news, AtoZ Markets reported that it would be launching tokens on Binance Chain. That would link to the top cryptocurrencies. The Binance Bitcoin-pegged token announced at the time to be available for trading on crypto platforms. And it also proposed, including Binance DEX. Earlier the last month, the exchange reported to have lowered the fee structure after 2019 BNB price rally.
The step came due to the significant market valuation increase. BNB experienced that in the last three months. In there, the chain validators approved to lower the fee structure on Binance Chain by 50 percent. The change allegedly included: cancel, order expire, IOC, transfer, multi-send, issue asset, burn asset, freeze and unfreeze asset, mint asset, proposal, add the deposit, and list fees.
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