April 23, 2024

At Binance, a record increase in bitcoin futures trading volume

At Binance, a record increase in bitcoin futures trading volume

The Binance futures platform was launched just a month ago, but the results are already impressive: within 24 hours yesterdaytrading volume exceeded $ 700 million, setting a new record.

Binance Futures set a personal record

According to data provided by Skew analystsMarkets, October 15, BTC / USD futures trading volumes exceeded $ 700 million, or about 84,000 BTC. Moreover, the growth in recent days is really impressive: on October 14, volumes amounted to about $ 500 million, and a day earlier they did not reach even $ 400 million.

As a result, Binance Futures reached thirda place among the platforms providing access to trade in bitcoin futures. Now it is overtaken only by BitMEX and Huobi. It is noteworthy that on October 14, the volume of trading in BitMEX futures came close to $ 3 billion, so Binance has yet to reach for leadership.

How are the “serious” players in the market doing?Bitcoin futures? CME and Bakkt cannot boast of such results: on CME the number of open positions is 2.847 BTC, and we are not talking about daily volume. Everything on Bakkt is very sad — Volumes for today are 17 BTC.

What does the growth in the volume of trading in BTC futures indicate?

Binance's success in the futures market cameBitcoin fall. During the day, the first cryptocurrency lost 2%, dropping from $8,340 to $8,155. At the same time, the daily volume of BTC is at a fairly neutral level — $15 billion


A sharp surge in trading volumes oftenindicates that the bulls are preparing for a new surge in quotes. Considering that volumes on Binance Futures have been skyrocketing for the past 5 days, this behavior could be a signal of an upcoming rally. However, it is impossible to say unequivocally about this &#8212; other sites are experiencing significant drawdowns, and the trading volumes of the cryptocurrency itself do not show outstanding results.

It is possible that trading growth on Binance Futures&#8212; this is just a side effect of the development of a young platform, or maybe the whales decided to concentrate their forces there. If Bitcoin does rally in the coming days, Binance's futures platform will truly establish itself as a tool for serious players.