Today Binance, the global Blockchain company behind the world’s largest crypto exchange, announced that Binance Futures has transacted with an annual volume of $ 1 billion to date.
User satisfaction comes first
For those who don’t remember, Binance Futures launched a year ago, in September 2019, and has quickly managed to become a market leader.
“The story of Binance becoming the world’s largest crypto exchange through our trading volume in spot trading in our first year is something that many of us strive for. We are grateful that our crypto futures exchange has also been well received by our users »said Changpeng Zhao, CEO of Binance.
He also added: “We applied what had worked for us in spot futures trading. In this way, we ensure platform stability, product innovation, excellent user-friendly interface, and user support. We will continue to provide the community with the most engaging experience. “
In this way, the CEO of Binance emphasizes that the core of its ecosystem remains the user.
Exponential growth in Binance Futures volume
Accordingly, the press release stated that the futures platform experienced a 74% month-on-month increase in August. This according to the data provided by third parties such as CryptoCompare.
He also assured that Binance has the highest daily trading volume of Bitcoin futures according to CoinGecko and CoinMarketCap.
In this sense, Aaron Gong, vice president of Binance Futures, asserted that, from Binance, they take very seriously that the user comes first. This with the aim of creating a “solid base to support the growth of the community”.
He also added that they invested in “An unprecedented matching engine that has been tested over and over again, and we focus on developing a first product to make sure we get it right”.
Now, “We have 90 products in four lines to meet user demand for greater diversification.” That’s how “Binance Futures offers a wide range of products.”
Among some of them is a wide range of altcoins products; including coin-margin and USDT-margin futures, as well as options and their innovative leveraged Binance tokens.
A very interesting piece of information offered by Gong is that altcoins account for about 40% of Binance Futures volume.
In this way, market research showed that during Q1 2020 and Q2 2020, $ 2 billion in volume was exceeded. This happened after an increase during the second quarter of 165% year-on-year compared to 2019.
These findings indicate a significant acceleration in global crypto derivatives trading, the press release noted.
We remind you, in celebration of its anniversary, Binance Futures is hosting a trading tournament. And believe it or not, the tournament has a prize pool of up to $ 1,600,000 in BNB tokens.