Binance Futures launches ETH contracts trading with upto 50x leverage
Malta-based cryptocurrency exchange, Binance, has announced that it would be launching ETH Futures contracts trading on the platform with up to 50x leverage. According to the press release shared with AMBCrypto, trading begins on 29 November, with USDT serving as collateral.
According to Binance, its fast matching engine will offer a stable and seamless trading experience, with a daily trading volume of more than 370,000 BTC ($2.7 million). Its Futures trading platform will also offer adjustable leverage between 1x and 50x using a slider on its mobile and web-based platforms, with app support coming soon.
CEO of Binance, Changpeng Zhao, welcomed the news and said that Binance Futures has remained stable, despite high market volatility, and has perpetually broken its own records in trading volume since its launch. He added,
“Binance Futures is a relatively new product, so is the crypto derivatives industry. We are committed to driving product innovations and growing our industry.”
Aaron Gong, Director of Binance Futures, commented that one of the reasons behind the platform’s success is that Binance is focused on one thing at a time, “instead of splitting resources to tackle too many things at the same time.” He said,
“We will continue to devote ‘The One Thing’ philosophy in refining this product and work steadily to improve the trading experience to address the needs of all traders on Binance Futures.”
Recently, Binance’s Research division had revealed that it took just 26 days for its perpetual contracts volume to exceed spot volume, peaking at a high of $2.3 billion on 26 October.