ETH/USDT contracts with up to 50x leverage is now available on Binance Futures
Binance, the leading cryptocurrency exchange by trading volume and user, gave the green light for ETH futures with up to 50x leverage on the Binance Futures trading platform. This means you can now bet for or against ethereum prices in futures on Binance Futures.
Trading Platform Launches ETH/USDT Contracts with 50x Max Leverage#Binance Futures traders can trade $ETH with an adjustable leverage between 1 and 50 on desktop and mobile web, with Android and iOS support available very soon.https://t.co/njgnQutHIy
— Binance (@binance) November 29, 2019
Ethereum futures are traded against stablecoin Tether (USDT). This marks a major step forward when Binance Futures strengthens its position to serve the community better by offering more options and building new functions.
Binance’s futures trading volume has increased recently thanks to the support of a fast matching tool. The current daily trading volume of Bitcoin futures reached 177,342 BTC ($ 1.3 billion), 40% higher than the spot volume when you trade coins in real-time on the exchange main transaction. Bitcoin futures trading volume has reached ATH of more than 370,000 BTC (about 2.7 billion USD at that time) in recent market growth.
On October 18, Binance Futures announced an increase in margin leverage of up to 125X, applied to BTC / USDT contracts. With their ETH contracts, Binance Futures traders can trade ETH with adjustable leverage ranging from 1 to 50 on desktop and mobile web, with Android and iOS supports.
At the time of writing, the 24-hour trading volume of ETH / USDT futures reached 195072 ETH (nearly $ 30 million).
Leverage refers to how much time a trader takes before the trade automatically liquidates. With leverage of 50x, if the price of ETH moves by only two percent of the price that traders have a bet, the transaction will be liquidated. Trading leverage is risky in the cryptocurrency market, where prices can fluctuate wildly for a few minutes.
About Binance Futures trading platform
In early September, the Binance exchange officially launched the Binance Futures trading platform with a 50% discount on transaction fees for the first 3 months after its official launch.
Binance Futures is a futures contract platform that allows you to place orders based on speculations on the price of a currency, without having to own cryptocurrency, for a specified period of time. In other words, Binance Futures are agreements that bind traders to buy or sell future assets for a specific price and date.
“In the first two months of launch, Binance Futures broke its own record of trading volume and saw an increase in professional traders,” said Changpeng Zhao, CEO of Binance.
This saw Binance intensify competition with platforms like Hong Kong-based Bitfinex exchange (which has implemented 100-times leverage trading for Bitcoin and Ethereum derivatives compared to Tether in September) and Bitcoin futures exchange BitMEX.
- What Is Binance? How To Register On Binance?
- Binance’s CEO Changpeng Zhao: Blockchain Will Be Bigger Than The Internet