Binance launches Ethereum Futures with 50x leverage.
The CEO of Binance, Changpeng Zhao, has steadily expanded its ecosystem and portfolio of products in recent months. The new product announced by Binance last Friday will be Ethereum (ETH) futures contracts. After the Bitcoin futures, these will be the second futures contracts offered by the Malta-based exchange.
The announcement comes as no surprise, as binance cryptocurrency exchange
already included the Ethereum futures contracts in its test network about a week ago. They will be tradable against the stablecoin Tether (USDT) with up to 50x leverage. The Ethereum (ETH) futures contracts will therefore not have as much leverage as the BTC futures, which can be traded with up to 125x leverage.
For ETH contracts, Binance users can choose a leverage between 1 and 50 on the desktop version of the exchange and in the Binance app, whereby Android and iOS support will soon be available. Changpeng Zhao stated in the official press release:binance cryptocurrency exchange
Futures has proved to be one of the most desirable products in the market, سکه بایننس ارزش خرید دارد allowing traders to hedge positions and manage risk. The platform remains stable despite high market volatility.
In the first two months of its launch, защо binance ни забрани Binance Futures broke its own trading volume records and experienced the growth of professional traders.
Binance strengthens its position on the futures market.
Furthermore, Binance announced that the exchange will offer a 50 percent discount on all Binance futures contracts until 13 December 2019. In addition, Zhao announced today, December 01, a USD 500 giveaway for all ETH Futures traders. For this, users only need to share a screenshot of their ETH futures position.
In addition, Binance explained that trading the unlimited contracts BTC/USDT and ETH/USDT will be similar to the existing trading pairs BTC/USDT and ETH/USDT on the spot market. Both are “valued and settled in the same way”. In addition, the Binance team wrote in the press release that it offers a rapidly adaptable engine that makes Binance futures a stable and seamless trading experience:
Its sophisticated risk engine, smart liquidation model and insurance funds provide traders with extra protection for highly leveraged trading, making it one of the most competitive products in the global crypto derivatives market, offering the highest leverage among major binance ismertető Ausztrália crypto exchanges for BTC contracts at 125x.
In mid-October, Binance set a new record for its BTC/USDT futures with more than $700 million worth of Bitcoin futures traded. The exchange’s current daily BTC future trading volume at the time of writing was approximately $1.416 billion, about 40 percent higher than Binance’s spot trading volume.
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Jake Simmons has been a crypto enthusiast since 2016, and since hearing about Bitcoin and blockchain technology, he's been involved with the subject every day. Beyond cryptocurrencies, Jake studied computer science and worked for 2 years for a startup in the blockchain sector. At CNF he is responsible for technical issues. His goal is to make the world aware of cryptocurrencies in a simple and understandable way.