Malta-based cryptocurrency exchange, Binance, has been testing out multiple new high-leverage contracts for its Futures platform. It’s in the news again after on 19 December, the platform officially announced the roll-out its Ethereum (ETH) Futures contracts with up to 75 times leverage.
The announcement read,
“We are excited to announce that the maximum leverage of the ETH/USDT perpetual contract has now been increased to 75x.”
ETH/USDT contracts with up to 75x leverage enable users to trade with a significant margin without risking any real assets. The ETH Futures are traded against the US dollar-pegged stablecoin Tether (USDT).
Binance Futures has thus proved to be one of the most desirable products in the market, allowing traders to hedge positions and manage risk.
Binance Futures’ trading volumes have been growing recently. At the time of writing, Binance’s ETH/USDT Future trading has seen an average of $113.65 million in volume. Despite the growth, however, Binance is still behind BitMEX as it offers up to 100x leverage on a few of its products. Several other platforms including ByBit and Stormgain also offer up to 100x leverage.
Other crypto-exchange platforms like Huobi DM and OKEx have not been able to take over Binace Futures.
Binance launched BTC and ETH Futures trading just three months ago and hit a daily trading volume of over $ 3 billion. CME Bitcoin Futures and Bakkt Bitcoin Futures are the other major players in the industry. Bakkt Bitcoin Futures was recently in the news for having set a new ATH with $5o million traded in one day.
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