Binance Futures trading platform recently released a new update on its official blog, noting that the futures contract of its native token, BNB will be available for trading with 50X max leverage from early next week.
Announced on Feb 07, 2020, the new wing of the global crypto exchange Binance states that the BNB is the 17th digital assets on the future’s platform. The official announcement also revealed that the futures contract of BNB against USDT will be accessible for users at 8:00 am (UTC) on Feb 10, 2020.
Ever since Binance launched its platform in 2017, the exchange has been exciting its audience with new updates, features and expansion plans. However, the Futures platform has been in its bucket list since September 2019. Binance futures claimed that the growth in this spectrum has made Binance futures “as the preferred platform for traders to hedge position” and capture potential and profitable spots during “upward and downward market movement”.
In addition, as per Binance futures, they hit a peak of USD$3.46 billion daily trading volume on January 14, 2020. On the back of Binance futures’s 50x leverage on BNB/USDT trading, the trading value of BNB scores higher. Consequently, BNB is currently surging by 9.54 percent within the past 24Hrs. More so, at the time of reporting this, the token is ranked on the ninth-largest spot on the coinmarketcap, valuing $21.88 against USD.
Following the announcement, Aaron Gong, Director of Binance Futures elaborates that the exchange is now bringing Binance’s signature trading experience to all newly added pairs,”. He further went on to say that they received huge demand for BNB contracts and assure that they “will continue to grow the industry impact of Binance Futures trading platform.”
“We’ve introduced 16 altcoins to our platform as of today and have seen excellent growth in our altcoin trading volume, with some pairs quickly taking the number one spot in the futures market. “said Aaron Gong.
As part of the BTC Futures contract on Binance futures exchange, the platform offers 125x max leverage which it proudly states is the “highest among major crypto exchanges”.
