Binance futures defy the drab market trend to record $700 million in 24-hours
- Binance futures product rises to become the third most traded product after Huobi and BitMEX products.
- The newly launched Bakkt continues to record low volumes having traded only $81,000 on October 15.
Binance futures are the only winners in this lethargic market. The exchange’s relatively product has continued blasting new records since its launch. Report by Skew, a cryptocurrency data provider shows that demand for the Bitcoin future product on the Malt-based exchange is immense.
Skew’s data shows that the volume of Bitcoin futures on the exchange hit a record high on October 15. Over $700 million was exchange in just 24 hours.
While Binance is exceeding expectations with the futures product other futures platforms like CME Group and Bakkt continue to see dwindling volumes. Bakkt only managed to trade $81,000 in the same 24-hour period. BTC/USD futures product on Binance is now the third most traded product behinf Huobi and BitMEX products.
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
