Binance has announced the launch of the ETH/USDT futures contracts with a maximum leverage of 50x.
These are ETH futures contracts with USDT as collateral. BTC/USDT futures with 125x leverage were launched in October and with today’s announcement, the selection of cryptocurrency futures contracts for clients is being expanded.
Since then, a maximum daily trading volume of over 370,000 BTC (approximately $2.7 billion) has been reached, thanks in part to the maximum leverage among the major cryptocurrency exchanges for BTC futures.
This reveals that the crypto-derivatives market is able to attract a lot of interest, most likely especially with regard to professional traders.
Whereas the new futures on ETH are offered with leverage adjustable between 1 and 50, which can be traded as of now on the website, and soon on Android and iOS apps.
The BTC/USDT and ETH/USDT futures act as a complementary product to the corresponding exchange pairs already present on the exchange.
Binance CEO Changpeng CZ Zhao said:
“Binance Futures has proved to be one of the most desirable products in the market, allowing traders to hedge positions and manage risk. The platform remains stable despite high market volatility. In the first two months of its launch, Binance Futures has been breaking its own records in trading volumes, and has witnessed the growth of professional traders. Binance Futures is a relatively new product, so is the crypto derivatives industry. We are committed to driving product innovations and growing our industry”.
Futures Binance’s director, Aaron Gong, added:
“One of the reasons leading to the early success of Binance Futures is that we embody ‘The One Thing’ philosophy. In launching our first BTC contracts, our technology, product and business teams dedicated 100% of our efforts to ensuring the first pair would take off, instead of splitting resources to tackle too many things at the same time. Now, we would like to introduce our ETH/USDT pair. We will continue to devote ‘The One Thing’ philosophy in refining this product and work steadily to improve the trading experience to address the needs of all traders on Binance Futures”.