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.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Pointing beyond the Moon

The sensations are very positive from a technical point of view. There are several signs that we may be facing the expected bullish market after the Bitcoin halving.

More Bitcoin News

XRP/USD may return to $0.2000 before another bullish wave

Ripple’s XRP settled above $0.2000, which is a positive signal for the coin in the short run; however, the further upside momentum seems to be limited for now.

More Ripple News

Ethereum Chart Update: ETH/USD is fine as long as it stays above daily SMA50

Ethereum (ETH) has been moving inside a range limited by $230.00 on the downside and $240.00 on the upside since Sunday. The coin tested lows at $224/62; however, the sell-off attracted new short-term buyers that pushed the price back above $230.00.

More Ethereum News

ETC/USD recovers from the hardfork-induced sell-off

An essential hardfork Phoenix was activated on the Etehreum Classic blockchain at block 10,500,839. The fork happened on May 31, 2020, ten days earlier than it was previously expected.

More Ethereum Classic News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC/USD bulls fight for every inch of the ground on their way to $10,000

After a sharp sell-off at the beginning of the week, BTC/USD climbed back above $9,000 and made its way above another important resistance $9,300.

Read the weekly forecast

BTC

ETH

XRP