06/12/19 06:14 UTC-5

Binance BTC futures trading volumes double in 24 hours

Today, daily tradingTrading
– is an economic term that means the process of independent trade, independent analysis of the market and the conclusion of trade transactions.Details
volumes have grown from $980 million to $2.2 billion. The reason is the return of volatilityVolatility
– is a financial term that means a statistical indicator of price change. In the cryptocurrency world, it is used by traders as an indicator for managing financial risks. That is, it is a measure of trade risk and as a financial analytical tool for gambling. Details
to the Bitcoin markets, according to the exchange report.


BTC futures reached $920 million in November

Since the launch of the BTC derivatives market for Binance futures in mid-September, daily trading volume has been steadily increasing. Remaining most of the first month at $400 million a day, trading volume rose to $820 million in mid-October, before breaking the $1 billion barrier on October 25.

During November, the offer of Binance derivatives continued to grow. Yesterday, the company said in a report that the trading volume for individual contracts on BTC in November “was higher than the total volume for all pairs on Binance.com”. Representatives of the exchange emphasized that the average daily volume in the BTC futures market amounted to $920 million in November.

Yesterday's Binance report showed that another key indicator for assessing trading activity by derivatives – open interest – the total amount of all traders with active long or short trading positions – increased by 95% in November, cryptocurrency news reports. 

Interesting in the section: Whale games: who manages the cryptocurrency market

  • Analysts mean that the BTC rate was manipulated by whales – major market players. So, on October 3, Bloomberg published an article in which he accused Tether of manipulating the course of the main cryptocurrency.

See also: "Kraken Exchange adds support for Swiss francs"

#Binance #cryptocurrencyexchanges #BTCfutures #trading

Editor: Daria Mukhina