Today, Binance has announced the launch of perpetual futures on the BNB/USDT pair with a maximum leverage of 50x. This option will be available starting next Monday, February 10th, 2020.
According to the press release, the launch of this type of contracts on BNB will allow token holders to trade in an increasingly flexible manner, while also increasing the use cases of the platform’s native token.
In particular, these perpetual futures will be launched on Binance Futures, the division of the exchange that deals with this type of contracts. Recently, among other things, the platform set a new trading volume record, reaching $3.46 billion in one day on January 14th, 2020.
Since its launch in September 2019, Binance Futures has continued to announce the support of a growing number of contracts and with this new launch in February 2020, there will be 17 different cryptocurrencies available for perpetual futures.
Hence, now there will be 17 pairs of perpetual futures contracts, namely BTC/USDT, ETH/USDT, BCH/USDT, XMR/USDT, DASH/USDT and BNB/USDT.
Aaron Gong, Director of Binance Futures, explained:
“After the success of our initial BTC contract, we have focused on bringing Binance’s signature trading experience to all newly added pairs. 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. The BNB contract has been a highly-demanded product and will continue to grow the industry impact of Binance Futures trading platform.”